Uber and PayPal Extend Business Partnership

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SAN JOSE <&sol;span>and <span class&equals;"xn-location">SAN FRANCISCO<&sol;span><&sol;span><&sol;strong> &&num;8212&semi; PayPal Holdings and Uber Technologies have announced an extension of their multi-year relationship&period; The deal cements PayPal&&num;8217&semi;s role as a key partner in Uber&&num;8217&semi;s continued growth in markets all over the world&period;<&sol;p>&NewLine;<p>As part of the agreement&comma; PayPal and Uber will continue to build upon their relationship for global card processing powered by PayPal Braintree&period; In addition to conventional card processing&comma; Uber will leverage the PayPal Braintree platform to expand its use of domestic debit network routing in several markets&comma; including in the U&period;S&period; Uber will also leverage PayPal value-added services including PayPal Payouts and several others that support in creating seamless&comma; high-performance payments experiences for Uber&&num;8217&semi;s customers&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Payments are central to Uber&&num;8217&semi;s magical experience&period; When a spender opens their app&comma; they expect it to work seamlessly from anywhere worldwide&comma; and drivers and couriers increasingly want to be paid instantly&comma;&&num;8221&semi; said <span class&equals;"xn-person">Karl Hebert<&sol;span>&comma; Vice President of Payments&comma; Risk&comma; and Identity at Uber&period; &&num;8220&semi;It&&num;8217&semi;s a very complex marketplace&period; As such&comma; we need partners that can match our speed&comma; growth&comma; and high bar for performance and solve hard problems like domestic debit routing at scale in multiple markets without missing a beat&period; Our partnership with PayPal has seen us grow to a massive scale&comma; working together to tackle many payments challenges side by side&period; Our extended partnership sets us up to work strategically to support Uber&&num;8217&semi;s next phase of exceptional growth&period; PayPal was the clear partner to take this ride with&period;&&num;8221&semi;<&sol;p>&NewLine;<p>In addition to the expanded use of payment processing and alternative debit network routing included in the new agreement&comma; Uber will also&colon;<&sol;p>&NewLine;<ul >&NewLine;<li>Extend its use of payouts with the PayPal Hyperwallet solution&comma; so drivers and couriers will have the option to access their funds instantly through PayPal and Venmo&period;<&sol;li>&NewLine;<li>Launch combined incentives including UberOne in a broad Consumer Rewards program to provide Uber customers with savings when they pay with the PayPal wallet or Venmo at checkout&period;<&sol;li>&NewLine;<li>Leverage the PayPal Chargehound solution to understand how automation can help resolve chargebacks and more quickly produce immediate cost savings&period;<&sol;li>&NewLine;<li>Partner with PayPal on advanced authorization optimizations&comma; while using Network Tokens&comma; Smart Retries&comma; and Account Updater services for further authorization-rate optimization and a more seamless consumer experience&period;<&sol;li>&NewLine;<&sol;ul>&NewLine;<p>&&num;8220&semi;PayPal and Uber&&num;8217&semi;s robust partnership over the years began with Uber&&num;8217&semi;s integration of PayPal within their wallet – a payment method that provides a level of security for their customers and is a key competitive differentiator in many markets&comma;&&num;8221&semi; said <span class&equals;"xn-person">Kurt Campisano<&sol;span>&comma; Senior Vice President of Global and Strategic Accounts at PayPal&period; &&num;8220&semi;With PayPal as a checkout option&comma; the extension of processing services and the addition of our payout and dispute resolution tools&comma; Uber is pulling on all of the levers they need to deliver a superior experience for their drivers and riders and to propel them into the future of mobility&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Uber and PayPal have worked together since 2012 to make payments seamless and secure for both riders and drivers&period; Throughout this time&comma; Uber&&num;8217&semi;s use of PayPal&&num;8217&semi;s vast portfolio of products and services has been a key contributor to driving high authorization rates and more successful transactions&period;<&sol;p>&NewLine;<p>The PayPal Braintree platform has been a focal point of the relationship&comma; processing Uber&&num;8217&semi;s payments in nearly 200 countries and 50 currencies&comma; enabling Uber to scale globally with limited complexity&period;<&sol;p>&NewLine;