Uber Launches Wallet-Based Payment System In India To Comply With New Regulations
Uber has introduced a wallet-style payment system in India in response to recent regulationsthat require all online transactions to pass through domestic payment systems.
The new payment method now allows customers to essentially pay with their debit card or net banking account, in addition to a credit card as before. Cash payments are still not supported. Customers charge a pre-paid wallet, which is then used to pay for Uber rides. Payments are thus deducted from the wallet, rather than directly from a debit or credit card.
An Uber spokesperson confirmed to TechCrunch that in the event that a customer has insufficient funds to pay their tab, the account goes into a negative balance and subsequently prompts them to top up and return their wallet to credit after the ride.
The new system — which is powered by India-based payment platform Paytm — is effective immediately in the country, although international credit cards can still be used.
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by Atul Singh
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