Cairo, Egypt: Uber and HSBC announced today the launch of Flexpay, a new digital payments solution that enables on-demand cashouts into mobile wallets, empowering unbanked drivers on the Uber platform with convenient and fast access to 100% of their earnings through HSBCnet’s payment solution. 

Uber and HSBC’s partnership to launch Flexpay is part of their mission to continuously find innovative solutions to use tech to cater for local needs. And as part of Uber’s long term commitment to the drivers, enabling Flexpay will save almost 5% of drivers earnings by providing them with a direct and cost effective way to receive these earnings and increase their liquidity. 

“We are working towards providing more financially inclusive solutions for drivers on the platform, to support them during these challenging economic times, and to accelerate financial inclusion, in line with the “Financial Inclusion Strategy for 22-25” announced by the Central Bank of Egypt, and Egypt’s vision 2030.” said Anabel Diaz, Uber Vice President and Regional General Manager for the Mobility Business in Europe, Middle East and Africa.

“Egypt is one of Uber's fastest growing markets in the world, and this growth drives us to innovate and provide a convenient experience to drivers on the platform, which is why we proudly launched Flexpay to mobile wallets as another global-first from Egypt,” added Diaz.

Commenting on the launch, Todd Wilcox, Deputy Chairman and Chief Executive Officer, HSBC Egypt said, “By drawing on HSBC’s deep digital expertise and wide global network, we have developed an innovative and resilient payment infrastructure for Uber, enabling quick and secure disbursement of payments to drivers on their platform. This will facilitate easy and fast e-payments, which will help Uber automate their cash management processes.” 

“We’re putting the global power of HSBC in every customer’s pocket with simpler, smarter and more secure digital banking” added Todd.

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About Uber

Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? Billions of trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

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