wordpress blog stats
Connect with us

Hi, what are you looking for?

, , , ,

Uber customers can now pay for taxi rides via Paytm Wallet


Online cab service Uber has exclusively partnered Paytm to enable users make use of Paytm’s prepaid wallet to pay for their tax rides.

This follows reports from September this year which had suggested that Uber was in talks with Paytm and PayU to integrate a digital wallet with its payment process. Following this tie-up, users can now either make use of Paytm wallet or an International credit card to make payments.


This tie-up was necessitated after Reserve Bank of India (RBI) issued a directive that Card Not Present (CNP) transactions for purchases of goods and services in India had to be processed through Indian banks and payments needed to be made in Rupees in August this year.

This directive was issued to stop the sidestepping of credit card norms by Uber which was earlier circumventing the RBI’s mandated 2-factor authentication by routing their transactions through foreign payment gateways. Uber’s competitor Meru Cabs had asked Reserve Bank Of India (RBI) to extend its recurring billing guidelines to foreign players like Uber in July this year, thereby creating a level playing field among domestic and International players.

It’s also worth noting that Uber primarily acts as a taxi aggregator and doesn’t own these taxis. Hence, a closed wallet cannot be used for making these third party transactions. It would need a semi-closed prepaid wallet license or at least a tie-up with a company which has the same license. Paytm had secured prepaid wallet license from RBI in August last year.

Advertisement. Scroll to continue reading.

Uber Paytm

How it works? Users can head over to the payment section on Uber’s mobile app, open a new wallet by tapping on “Add a prepaid wallet” button and recharge their wallet by using their credit card, debit card or net banking account. Existing Paytm wallet users can link their wallet to their Uber account.

Following this, the taxi fare is automatically deducted from the customer’s wallet after ride completion and a receipt is emailed to them. In case the consumer doesn’t have enough balance, an Uber spokesperson told TechCrunch that the account goes into negative balance and they subsequently prompt users to top up the wallet after the ride.

Wallets from other Taxi services

Interestingly, its worth noting that Uber’s competitors Olacabs, Meru Cabs and TaxiForSure have also launched similar prepaid wallets over the last month or so. While Meru Cabs had partnered Citrus Pay to offer this service, there is currently no information on whom Olacabs and TaxiForSure have partnered to offer this wallet service.

Related Reading

– Meru Cabs asks RBI to extend recurring payment rules to foreign players like Uber
– Meru Cabs: usage of foreign payment gateways violated RBI guidelines, FEMA rules
– New RBI restrictions may impact your international online purchases
– On RBI’s online billing guidelines: What about the small merchants?

Advertisement. Scroll to continue reading.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.


When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ