Sberbank, Uber ride-hailing app consider co-designing payment technology

By Andrei Skvarsky.

Sberbank, Russia’s largest lender, and ride-hailing app service Uber have signed a memorandum of understanding to explore ways of co-developing payment technology.

A statement from Sberbank credited the lender with possessing some of the world’s most advanced and secure mobile payment technologies.

Uber sees “innovative business programmes” carried out by Sberbank as “effective means” of simplifying formalities for starting a business as a self-employed driver, the statement said.

It said Sberbank, on the other hand, would be able to offer various car loan opportunities to drivers working for Uber, which is a company headquartered in San Francisco and operating across the world.

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