The shared trip application Uber has announced a partnership with the digital payment giant PayPal, and the future Uber passengers will be able to pay the money through the latter mobile payment service Venmo.
Uber will launch an app as part of a partnership agreement, PayPal said Thursday.
Nomura Instinet analyst Dan Dave (Dan Dolev) said earlier this week that the application download of Cash App is about to exceed Venmo in the next few weeks. However, with the cooperation with Uber, the leader in the field of shared travel, Venmo is expected to regain its users.
Before that, PayPal had reached a cooperative agreement with the takeout services GrubHub, Seamless and many online retailers to support their users' disclosure on the payment of.PayPal through the Venmo.
It is worth mentioning that, in addition to Uber's own sharing trip service will bring a huge transaction traffic for Venmo, the contribution of the takeout service Uber Eats is not to be underestimated.
The financial times had previously reported that the Uber's takeout business, UberEats, contributed 10% to the company's revenue of $1 billion 100 million in the fourth quarter of 2017. According to this calculation, the gross sales volume of the business may exceed $3 billion a year. In comparison, the US takeaway company valued at $4 billion 100 million is only 800 million dollars in GrubHub.
Up to now, Uber has launched UberEats services in more than 200 cities. And since this year, Uber has been increasing its investment in food distribution, and plans to launch the service in new countries, including Ireland, Egypt, Romania, Kenya and Ukraine, and will open 40 and 35 new cities in the UK and France respectively. The company hopes to take a bigger share of the market in Europe, the Middle East and Africa with a value of $28 billion in the food distribution market.