RBI mandated 2-step verification for cashless payments last October, due to which cab service provider Uber got into a bit of fix since it allows automatic deduction of transaction amount from a user’s credit card after a ride gets over. To solve this payment issue in India, Uber has made partnership with Indian mobile commerce platform Paytm, to allow customers to pay for all their rides through Paytm wallet.
Uber will integrate Paytm’s digital wallet into its payment system enabling customers to pay through credit card, debit card or net banking.
The Paytm wallet option is currently available on Android and iOS. When a user links their debit card or bank account via Paytm wallet card to their Uber account then they will be able to charge their wallet by using multiple payment options.
Uber’s Indian competitors Ola, TaxiforSure and Meru were a step ahead this time, following on Uber’s cashless payment model, they launched their respective wallets earlier this year.