Ride-hailing Uber on Tuesday said it “has set up Uber Money team in Hyderabad, strengthening its fintech presence in India”. Uber Money will works on financial products and technologies with the aim to help Uber riders and drivers.The team will comprise more than 100 technology professionals responsible for global financial products and technology innovations at its Hyderabad Tech Center, making it the first such centre in the Asia-Pacific region.
It will also see upcoming new global features and improvements, including real-time earnings, updated debit accounts and cards for Uber drivers along with Uber Wallet and refreshed Uber credit card for Uber riders.
With deep knowledge of the front-end, full-stack, mobile, machine learning, and data engineering, the Uber Money team will focus on implementing new payment methods, enabling and building financial compliance tools, leveraging smart routing technologies for payment gateways, and applying Uber Artificial Intelligence models for intelligent risk decisions.
Uber Money in India would be based on National Payments Corp. of India’s (NPCI) real-time payment system Unified Payments Interface (UPI). UPI recently crossed 100 million users, making it one of the fastest adoptions of any payments system anywhere in the world and is thus a right fit for Uber’s plans.
Naga Kasu, engineering director and Hyderabad site lead, Uber, said, “The Uber Hyderabad Tech Centre has the best in class fintech talent specializing in risk, payments, financial reporting and analytics platform engineering. Besides engineering, we are investing in growing and scaling data science, analytics, and product management organizations to transform Hyderabad into a full spectrum tech site for Uber.”
Started in 2014, the Hyderabad Engineering Centre builds software products and platforms, focusing on providing a seamless experience to Uber’s global community. The centre’s cutting-edge innovations and ability to generate high business impact have resulted in greater investments, increased hiring, and more responsibility for the site.