{"id":599466,"date":"2023-08-14T00:00:00","date_gmt":"2023-08-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/14\/hsbc-and-uber-accelerating-financial-inclusion\/"},"modified":"2023-08-14T00:00:00","modified_gmt":"2023-08-14T00:00:00","slug":"hsbc-and-uber-accelerating-financial-inclusion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/14\/hsbc-and-uber-accelerating-financial-inclusion\/","title":{"rendered":"HSBC and Uber \u2014 accelerating financial inclusion"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In support of the Egyptian government\u2019s financial inclusion programme, <strong> HSBC has worked with <\/strong><strong> Uber to deliver payment solutions that allow direct payments for driver earnings <\/strong> from riders into e-wallets and provide on-demand cashouts for Uber\u2019s driver partners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">According to the World Bank, <strong> two-thirds of Egypt\u2019s citizens do not have a transaction bank account <\/strong>, because of minimum deposits and balance thresholds. For the driver partners using the ride-hailing platform Uber, this presented a particular challenge. Uber needed to develop a direct payment solution for the substantial number of drivers (more than 700k have driven using the app since launch in Egypt.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">With many drivers not possessing bank accounts, <strong> Uber sought an innovative technology-driven payment solution that would deliver two core objectives <\/strong>: enable financial inclusion for all drivers who use the platform (banked and unbanked); and deliver a quick and smooth channel for drivers to be able to access their earnings from riders faster (with 20k Automated Clearing House (ACH) transactions being made every week.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Historically, Uber would collect non-cash payments from users of the Uber apps and then make disbursements to bank accounts, whether in the name of driver partners directly or through third parties such as fleet partners who would subsequently make payments to individual drivers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">However, this meant higher costs to individual drivers, thus reducing their earnings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Working with international banking partner HSBC, Uber ultimately decided to go for ACH-to-bank account and ACH-to-e-wallet digital solutions to achieve their goals. <\/strong> Since wallets can be created through banks and telecom operators in Egypt, this provides the perfect solution for drivers to be able to directly access their earnings from the transportation services they provide to riders using the Uber app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The solution was implemented over multiple phases. In the first domestic ACH phase, automated payments were introduced via ACH-to-bank to transfer earnings to drivers who held bank accounts \u2014 while this initial phase still supported the existing process whereby Uber paid fleet connectors, who in turn paid unbanked drivers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In the second ACH-to-e-wallet phase, payments for unbanked drivers were introduced via ACH-to-e-wallet through an innovative and resilient payment infrastructure \u2014 with disbursement of payments to digital wallets being made weekly, and with the goal set to encourage all unbanked drivers to obtain a digital wallet or provide their e-wallet details so that they can have direct access to their earnings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The third phase was Uber\u2019s launch of Flexpay \u2014 payments made on demand triggered by eligible drivers on Uber\u2019s app, where drivers are able to access their earnings more frequently than their weekly payouts. HSBC supported Uber through the frequent payouts within the day before the daily cut off time, empowering unbanked drivers on the Uber platform with convenient and fast access to their earnings through HSBC\u2019s payment solution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> By drawing on HSBC\u2019s deep digital expertise and wide global network, we have developed an innovative and resilient payment infrastructure for drivers using the Uber app <\/strong>, enabling quick and secure disbursements of payments from riders to drivers on their platform. This will facilitate easy and fast e-payments, which will help Uber automate their cash management processes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Todd Wilcox (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/todd-wilcox-32a1b24\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) is HSBC Egypt\u2019s deputy chairman and chief executive officer. HSBC\u2019s column in Enterprise appears every second Monday. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>In support of the Egyptian government\u2019s financial inclusion programme, HSBC has worked with Uber to deliver payment solutions that allow direct payments for driver earnings from riders into e-wallets and provide on-demand cashouts for Uber\u2019s driver partners. According to the World Bank, two-thirds of Egypt\u2019s citizens do not have a transaction bank account , because [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":599467,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7351],"tags":[2284,72,290,490,441],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-message-from-hsbc","tag-a-message-from-hsbc","tag-enterpriseam","tag-financial-inclusion","tag-hsbc","tag-uber","wpautop","entry"],"acf":{"mongo_id":"821b1aed-3f89-4ede-bd78-d25c161936ab","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/629.jpg","photo_position":"above","homepage_title":"","full_issue_title":"HSBC and Uber \u2014 accelerating financial inclusion","related_issue":[599457],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.c70af167-2c12-4011-8946-713e9c902797.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>HSBC and Uber \u2014 accelerating financial inclusion - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/14\/hsbc-and-uber-accelerating-financial-inclusion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSBC and Uber \u2014 accelerating financial inclusion\" \/>\n<meta property=\"og:description\" content=\"In support of the Egyptian government\u2019s financial inclusion programme, HSBC has worked with Uber to deliver payment solutions that allow direct payments for driver earnings from riders into e-wallets and provide on-demand cashouts for Uber\u2019s driver partners. 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For a very large number of widows, for whom the loss of a spouse also means the loss of the home\u2019s main income, bereavement is compounded by financial uncertainty.This is the reality for\u2026","rel":"","context":"In &quot;A MESSAGE FROM HSBC&quot;","block_context":{"text":"A MESSAGE FROM HSBC","link":"https:\/\/enterpriseam.com\/egypt\/category\/a-message-from-hsbc\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/143.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583110,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/08\/hsbc-rolls-out-mobile-wallet-payment-solution-for-uber-egypt-drivers-the-2030-world-cup-host-list-is-looking-crowded\/","url_meta":{"origin":599466,"position":3},"title":"HSBC rolls out mobile wallet payment solution for Uber Egypt drivers + The 2030 World Cup host list is looking crowded","author":"enterpriseam admin","date":"8 February 2023","format":false,"excerpt":"Uber riders in Egypt will stop struggling with drivers\u2019 hatred for credit payments: Our friends at HSBC have teamed up with Uber Egypt to roll out \u201con-demand cashouts\u201d for Uber drivers, according to a statement (pdf). The digital solution, named Flexpay, allows drivers outside the banking system to access their\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2021\/12\/woman-car-packages-1600px.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":673671,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/16\/hsbc-egypt-named-best-cash-management-provider-by-euromoney\/","url_meta":{"origin":599466,"position":4},"title":"HSBC Egypt named Best Cash-management Provider by Euromoney","author":"enterpriseam admin","date":"16 October 2025","format":false,"excerpt":"The bank ranked first overall and across all sub-categories in the 2025 survey","rel":"","context":"In &quot;Kudos&quot;","block_context":{"text":"Kudos","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/kudos\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/783.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":685440,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/23\/hsbc-says-its-committed-to-commercial-investment-banking-in-egypt-amid-reports-its-inching-closer-to-exiting-retail-franchise\/","url_meta":{"origin":599466,"position":5},"title":"HSBC says it\u2019s committed to commercial, investment banking in Egypt amid reports it\u2019s inching closer to exiting retail franchise","author":"enterpriseam admin","date":"23 February 2026","format":false,"excerpt":"\u201cHSBC is very committed to Egypt as a strategic market in which we are squarely focused on the needs of our corporate and investment banking clients,\u201d HSBC Egypt CEO Todd Wilcox told EnterpriseAM","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=599466"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599466\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599467"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599466"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599466"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}