Uber has partnered with UATP to integrate Uber Wallet
Sep 30, 2021
Uber for Business collaborated with UATP to enable corporate travelers to benefit from UATP’s integration with the Uber wallet.
Universal Air Travel Plan, Inc. or UATP is a privately owned global payment network of the world’s airlines and accepted by thousands of merchants for travel and hotel payment.
Shares in Uber Technologies ( NYSE:UBER ), the transportation network company that offers hitchhiking, food and package delivery, and mail and freight services, increased 22% last year. (Check the UBER chart traded on NYSE in real time on ADVFN)
Under the terms of the strategic partnership, the UATP will be integrated into Uber Wallet. Consequently, travelers will be able to make use of UATP accounts for Uber travel, as well as place orders through Uber Eats.
In addition, UATP customers will have access to Uber’s on-demand network and will benefit from the travel and meal information provided on the statements.
Uber will benefit from having an additional source of global travelers to use Uber, while UATP will benefit from expanding network volumes.
Susan Anderson, global head of Uber for Business, commented: “For companies around the world, the way work gets done looks different these days. However, the fundamental goals have remained the same – to continue to build great products while discovering new ways to not only meet customer demand, but also delight and keep them happy.”
She added, “We look forward to working with the UATP to help provide a frictionless journey for the customer from the booking process to payment and reconciliation, while creating an intuitive way for companies to improve their operations.”
Needham analyst Bernie McTernan reiterated a buy rating on Uber Technologies with a target price of $77 (73% upside potential).
McTernan predicted the company will make a profit of $0.61 per share in the third quarter of 2021.
Overall, Wall Street is bullish on equities and has a strong buy consensus rating based on 23  Buys and 2 Holds. Uber’s average target price of $68.75 implies a potential upside of about 54.4% from current levels.
Uber is also traded on B3 via the ticker ( BOV:U1BE34 ). The ADVFN monitor quotes the assets traded on B3 and other exchanges as well as cryptocurrencies and real estate funds.
To view this article, click here.