Uber Might Launch Its Own Mobile Payment Wallet In India

San Francisco-based online taxi-hailing company, Uber, is planning to come up with its own mobile payment wallet in the country.

According to sources, the company also seeks to apply to RBI for the licence soon.

Uber’s plan to opt for its own mobile wallet is in line with its aim have India as its second biggest market after US. It recently expanded its services to four new Indian cities, totalling it to 22 cities.

Presently, Uber users use Paytm wallet to pay for their trips. Recently, Uber also tied up with Airtel Money to facilitate payments through Airtel’s wallet.

According to the current rules, RBI does not give permission for marketplaces to offer closed wallets on their respective platforms, but a semi-closed wallets can offer digital payment of cash to several merchants on a marketplace.

Uber connects drivers to consumers using its technology and a semi-closed wallet would ensure that Uber is abiding by the law of the land.

Apart from Uber, cab booking service Ola is also planning to apply for a mobile wallet licence.

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