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Uber applies for e-money licence

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.

In a statement issued to Sky News, an Uber spokesperson confirmed: “We have submitted an application for an e-money licence 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 licence will enable us to support the continued innovation and growth of our business in Europe by streamlining our payment processes.”

The application to the Netherlands’ central bank comes months after Dara Khosrowshahi took the helm following the departure of founder Travis Kalanick.

Uber is in the middle of a battle to regain its licence to operate in London, with an appeal hearing scheduled in June.

 

Source : news.sky.com

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