Uber-Venmo partnership to give Venmo users added convenience in paying and splitting fares, Uber Eats orders
Uber and Venmo have partnered to add the Venmo digital wallet app as a payment method on the Uber Eats and the Uber ride-sharing service apps. Venom, a digital wallet service owned by PayPal, Inc., announced today that the Venmo payment method will be available in the coming weeks, and that riders will be able to more seamlessly split payments when paying for Uber Eats or Uber. Uber is a frequently-mentioned experience on Venmo, for which friends are paying each other back, and have mentioned Uber over six-million times in such payments.
“With so many of our riders and eaters already turning to Venmo as a way to pay a friend back for that last ride or meal, we’re proud to have built a seamless, easy-to-use connection between our apps (through the Uber-Venmo partnership),” said Marco Mahrus, head of Payment Partnerships, in a statement.
Uber riders will be able to pay with a Venmo balance, linked bank account, credit card or debit card so they can easily split the cost with friends and family in the Venmo app. Furthermore, the connectivity between the apps is a major convenience to frequent app users, particularly Gens Y and Z, and it allows the riding experience to be shared with a branded emoji that is specific to the Uber-Venmo partnership, the first of its kind.
The Uber-Venmo partnership is a positive news for the Uber ride-sharing service, which saw much controversy in 2017 as a result of sexual misconduct allegations. This month, Uber saw a top Human Resources director resign amid allegations of improper handling of racial discrimination complaints.
As Uber looks to shake-off the negative publicity, the added payment convenience via this new collaboration is a step in the right direction, and it will further bolster the competitive positioning of its Uber Eats third-party restaurant delivery service.
Under its new chief executive, CEO Dara Khosrowshahi, its financial performance has improved, notes Recode. Revenue is up year-over-year in the 2018 first quarter period, and its loss was nearly cut in half from the same prior-year period, when factoring out one-time profit gains from Uber’s merger with international competitors Yandex in Russia and Grab in Southeast Asia.
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