Uber is a convenient way to ride. The app-based service is a pioneer in rideshare and has been embraced as a preferred way to ride globally. Riders place their ride request via the app and then the rider is matched to a driver. Uber passengers get a fare estimate before even starting a ride. This helps them decide if to go on with the ride or cancel the ride request. This fare estimate is shown to the rider before completing the ride request process on the Uber app. Passengers pay for the rides via the credit or debit cards tied to their Uber accounts.
Some markets like Nigeria and India allow passengers pay for rides using cash. In addition to these payment options, riders can pay for rides using their PayPal accounts and now, payment can be effected using Venmo. Uber and Venmo entered a partnership to facilitate payment for Uber rides with Venmo.
Venmo is a free digital wallet that lets you transfer money to others via a mobile app. This mobile payment service is owned by PayPal and both parties of the payment transaction have to be resident in the U.S.
Uber and Venmo Partnership
In July 2018, Uber announced it will be partnering with Venmo to allow users add Venmo as a payment method for Uber rides and UberEATS. In a press release, Uber stated that in 2017 “more than six million payments on Venmo mentioned “Uber” in their description”. It is only strategic that Uber will pursue a beneficial partnership with Venmo to simplify payment via the mobile money service. To facilitate payments via Venmo, Uber provided an option where Venmo can be added as a payment method on the Uber app.
Users can pay solo or split costs with other parties. However, you will be prompted to visit the Venmo app to split the cost effectively. You will also find custom Uber and UberEATS emojis in the Venmo app to add some fun in the description field.
Having multiple payment methods for Uber payments is a good way to make the service more flexible and convenient for users. This Uber and Venmo partnership is a win-win for all parties involved. Uber stands to earn more if riders have multiple ways of paying for the service; Venmo profits from transaction fees and users have flexible means of effecting payment after using Uber’s services.
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