Business

Softbank is encouraging integration between Uber and Banco Inter in Brazil

Following Softbank's international strategy, this could be the first partnership among companies where the Japanese group has participation in Brazil

Uber and Banco Inter
  • Uber is looking for a partner to create a financial system that allows users and drivers to make basic financial transactions inside the app
  • Softbank, that bought 14% of Banco’s Inter capital, is supporting that its bank could be the chosen one to develop this project
  • This is the first partnership among companies from Softbank’s portfolio that is supported by the Japanese group

It seems that Softbank is really committed to open new business opportunities in Latin America. The Japanese fund that is one of Uber‘s investors in the US is supporting that the company chooses Banco Inter, another company from Softbank’s portfolio, as a partner in Brazil, according to the Brazilian media outlet Estadão.  

If all goes according to Softbank‘s plans, both companies could join forces to create a whole new system that allows Uber to offer all the basic bank services, such as to receive the rides’ payments automatically in a bank account for drivers, for instance. 

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With the integration, Uber aims to also have fewer credit card costs when a passenger chooses to pay using Inter’s bank account, something that would benefit the ride-hailing company, since these taxes for cheaper rides are one of Uber’s problems, according to Estadão

READ ALSO: With a new agreement, Softbank has now 14% of Banco Inter’s capital

Internationally known for supporting the partnerships among companies on its portfolio, this is the first time that Softbank applies this strategy in Brazil – a country where the Japanese group has already set its eyes on, hence the investments made in QuintoAndar and Creditas, to name a few.