Tuesday, 27 March 2018

Uber Technologies seeks Dutch payments licence in drive to diversify

Uber Technologies has submitted an application for a European payments processing licence as it seeks to accelerate its diversification into a broad range of consumer-facing services.
Sky News has learnt that Uber has applied to the Dutch central bank for an e-money licence that will enable it to streamline its payment processes across businesses such as its core ride-hailing app and its fast-growing UberEats food delivery venture.
Sources said the attempt to become classified as an electronic money institution was being handled by a new subsidiary called Uber Payments BV.

The company, which is reeling from the death of pedestrian caused by one of its self-driving vehicles in the US state of Arizona, is hunting a non-executive director to serve on the board of the new unit.

The supervisory board, which will consist of two members, will operate in accordance with Dutch company law, insiders said on Tuesday.

In a statement issued to Sky News, an Uber spokesperson confirmed: "We have submitted an application for an e-money license in the Netherlands, where Uber's international headquarters is based.

"We are constantly expanding the range of products we offer and improving the experience for those who use our apps. The way we handle payments is an important part of that.

"An e-money license will enable us to support the continued innovation and growth of our business in Europe by streamlining our payment processes."

BBC        News.