NEW DELHI : Ride-hailing company Uber India on Tuesday said it has set up a 100-member Uber Money team in Hyderabad to strengthen its fintech business in India.

In October, Uber had announced the launch of Uber Money, an in-house team working on financial products and technologies that aim to support its riders and drivers.

The Hyderabad team will comprise more than 100 technology professionals and contribute to Uber’s global financial and technology innovations, working from the Hyderabad Tech Center, making it the first such centre in the Asia-Pacific region, the company said in a statement.

The team will work on enabling new global features and improvements, including real-time earnings, updated debit accounts and cards for Uber drivers along with Uber Wallet and an Uber credit card for Uber riders.

Uber says the digital wallet will allow drivers to “easily track their earning and spending history, manage and move their money, and discover new Uber financial products all in one place," and will be part of the Uber driver app.

Started in 2014, the Hyderabad Engineering Centre builds software products and platforms, focusing on providing a seamless experience to Uber’s global community.

The team has expertise in front-end, full-stack, mobile development, machine learning, and data engineering, and will focus on implementing new payment methods, enabling and building financial compliance tools, leveraging smart routing technologies for payment gateways, and applying artificial intelligence models for intelligent risk decisions related to fake user accounts and profiles.

Naga Kasu, engineering director and Hyderabad site lead, Uber, said, “The Uber Hyderabad Tech Centre has the best in class fintech talent specialising in risk, payments, financial reporting and analytics platform engineering. Besides engineering, we are investing in growing and scaling data science, analytics, and product management organizations to transform Hyderabad into a full spectrum tech site for Uber."

Besides Hyderabad, Uber Money teams are located in San Francisco, Palo Alto, New York, and Amsterdam.

According to experts, Uber has lost critical time in India market and has significantly delayed its financial services here.

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