Uber plans digital wallet in India

23-Feb-2016 #India-US,#Technology & Innovation Source: India Inc
American taxi aggregator Uber is planning on introducing a digital wallet of its own, which will be added to other payment options. The closed wallet, to allow payments only for rides hailed on Uber, will mark a departure from Uber's worldwide practice of accepting payments on credit cards. This will extend options available to Indian commuters, who can currently pay by card, with cash or through Paytm and Airtel Money digital wallets. Uber had to start working with wallet services providers after the Reserve Bank of India in August 2014 ruled that a two-step authentication for credit card payments was necessary for foreign companies like Uber. Besides digital wallets, Uber has introduced options to pay for rides using cash in India. It recently reintroduced the option to pay using credit cards, and currently also lets commuters opt to pay for their rides using their debit cards. It also partnered with Airtel to let users pay via Airtel money.
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