Uber Technology Inc. in association with National Payments Corporation of India has started rolling out the UPI integration for Uber cab services in India. It allows users to pay for their rides using the bank-to-bank payment platform. Unified Payments Interface (UPI) is a payment system launched by NPCI and regulated by the RBI which facilitates the instant fund transfer between two bank accounts on the Mobile Platform.
The payment through UPI is quite simple; users have to tap on ‘Add Payment Method’ where they will see a new UPI payment option in the Payment tab, and further they execute ride payment through it. Before UPI, the customer pays for their ride through different payment channel like cash, debit card, credit card, Android Pay and PayPal.
According to the previous report, it has been speculated that the Global companies like Amazon and WhatsApp are also working on UPI integrations for their platform. Furthermore, on Monday, NPCI has announced that the Unified Payments Interface (UPI), has crossed the 10-million-transaction mark in June 2017 and the last three months UPI transactions had grown successfully from 7.2 million to 9.36 million to 10.35 million in April, May and June 2017, respectively.
Commenting on the UPI integration, Uber spokesperson said:
“We are currently evaluating the possibilities around a comprehensive UPI integration and continuing to engage with the relevant stakeholders. As a first step, we are pleased to be offering our riders the option to use their existing UPI IDs to pay for their Uber rides.”