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PIF-backed Uber collaborates with e-commerce firm Rakuten on Japan food delivery payments

The PIF has invested $3.5 billion in Uber (Shutterstock)
The PIF has invested $3.5 billion in Uber (Shutterstock)
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18 Apr 2022 09:04:48 GMT9
18 Apr 2022 09:04:48 GMT9

Arab News 

RIYADH: Backed by the Saudi Public Investment Fund, American transport company Uber Technologies Inc. will collaborate with Japanese electronic commerce company Rakuten Group Inc. on food delivery payments in Japan, Bloomberg reported.

While the payment services are expected to be integrated into Uber Eats towards the end of April, the transport firm intends to implement it for its mobility app as well in the near future.

This comes as Uber is trying to expand its footprint in international markets, by making its services more accessible.

Under the new collaboration, Rakuten account holders will be able to log in without having a pre-existing Uber account. 

It will also enable them to receive, as well as spend, their Rakuten points, or Rakuten Pay credit. 

While Uber Eats currently operates in over 6,000 cities dispersed worldwide, it covered as much as 47 Japanese prefectures as of last year.

In addition, Uber has over 15,000 restaurant partners and 100,000 delivery partners in Japan; yet it still wishes to further expand with implementing Rakuten services.

The PIF has invested $3.5 billion in Uber, giving it a 3.75 percent stake in the firm.

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