Uber, Amazon, and Google are working on a Unified Payment Interface (UPI). According to the latest report of ET and National Payment Corporation of India, Uber is expected to launch its UPI service via BHIM app integration. This UPI from Uber is going to be released by this month. As Uber’s competitor OLA cabs already made the UPI integration in April this year, Uber is looking forward to integrating their UPI soon. Uber said that the company is opening a new payment option for riders to pay cab drivers instead of paying in cash.
“Since around 60 percent of the cab drivers still get paid in cash by the customers, UPI payments will help the Uber drivers to make their payment to Uber using the UPI integration”, said NPCI CEO AP Hota.
Amazon is also working on the launch of UPI and is currently working with some for the banks and is currently under testing. The company is going to implement the new UPI in the pay button, so there won’t be a dedicated app for this. Google is also working on its dedicated UPI and has almost completed the testing for the integration and is currently waiting for RBI’s approval to launch in India. It is said that the company will launch the service in the next two to three months
Google is going to name this app differently as it will be an India-focussed app and is working along with a bank in India to launch their UPI service, according to AP Hota. As more private and bank companies are adopting the new payment system, the UPI’s monthly transactions crossed 1 crore. WhatsApp is already in talks with SBI and NPCI for that.