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SAN FRANCISCO - Uber Eats (NYSE:UBER), a prominent player in the ground transportation industry with a market capitalization of $193 billion, announced Wednesday the expansion of its SNAP EBT payment program with the addition of Wegmans, Gopuff and Family Dollar to its roster of participating merchants. According to InvestingPro analysis, the company maintains a "GREAT" financial health score, positioning it well for continued expansion initiatives.
The food delivery platform now enables eligible customers to use Supplemental Nutrition Assistance Program (SNAP) benefits to purchase groceries from over 40 retailers through its app, with payments processed by Forage, a payments technology company.
"We believe that everyone deserves the convenience of delivery, and with this growing list of merchant partners we can continue to provide access to the fresh food that families and individuals need," said Hashim Amin, Head of Grocery and Retail Delivery at Uber, North America, in a press release statement.
The expanded program includes major national chains such as 7-Eleven, Albertson’s, CVS, Hy-Vee, Meijer, Safeway, Walgreens, and now Wegmans, alongside regional grocers and convenience stores.
To improve accessibility, Uber Eats has added a SNAP icon in its app to help users identify participating retailers. The company is also offering incentives including zero delivery fees on the first three SNAP-eligible orders for EBT cardholders and a limited-time free trial of its Uber One membership program.
The initiative aims to address food accessibility barriers, particularly for individuals without reliable transportation options. According to the company, the service now encompasses tens of thousands of stores nationwide where SNAP benefits can be used for delivery orders.
Uber Eats indicated it plans to continue adding retailers to the program in the coming months, including merchants new to the platform.
In other recent news, Uber Technologies, Inc. has announced a multi-year strategic partnership with Baidu, Inc. to integrate autonomous vehicles into its platform in international markets. This collaboration will initially target regions like Asia and the Middle East, enhancing Uber’s ride-sharing options with Baidu’s Apollo Go self-driving vehicles. Additionally, Uber will serve as the official rideshare and on-demand delivery partner for the LA28 Olympic and Paralympic Games, providing comprehensive transportation and delivery services. In analyst updates, Needham has raised its price target for Uber to $109, citing pricing strength and healthy demand indicators. Evercore ISI has reiterated its Outperform rating on Uber, highlighting favorable driver supply conditions and promising results from Uber’s partnership with Waymo in Austin. Meanwhile, Citizens JMP has maintained its Market Perform rating, noting Uber’s strong execution of its autonomous vehicle strategy. The firm believes Uber’s hybrid network of autonomous and human-driven vehicles will reduce ride-sharing costs and expand its market. These developments reflect Uber’s ongoing strategic initiatives and partnerships in the evolving mobility landscape.
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