Uber Restarts Credit Card Payments In India; Partners With Zaakpay

At its inception, Uber started by accepting credit card payments which was later stopped due to issues raised by the Reserve Bank Of India. For accepting local card payments, it has now tied up with Gurgaon-based digital  payment gateway firm Zaakpay. The new solution is in keeping with the RBI’s two-factor guidelines and requires a one-time password to be keyed in to make the payment.

Zaakpay was earlier working with Uber’s rival Ola cabs.

User will require to enter their card’s CVV and a one-time password received on their phone to pay for the cab ride. This move comes after several users complained about loading a Paytm wallet in order to avail an Uber ride, hindering the seamless payments experience.

Last year, India radio taxi operators had filed a complaint with the RBI alleging foreign exchange violations who was routing payments to Netherlands-based Uber BV and the company partnered with Paytm Wallet.

The taxi aggregator is also testing a cash-based payments model in Hyderabad to compete with Ola which offers its users the option to pay via cash along with digital payments.

Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.