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Uber pitches for an additional 45-day extension to comply with RBI online payments rules

Online cab service Uber, which recently exclusively integrated Paytm’s prepaid wallet with its service, has pitched for a 45-day extension of the deadline to comply with the Reserve Bank of India’s online payments rules. Last month, RBI had extended the deadline by which Uber had to comply with its two-factor authentication rules, from the 31st of October to the 30th of November. Now Uber has said that an additional 45-day extension would provide its existing riders sufficient time to switch over to the Paytm wallet powered payment system. The company has said that this additional grace period will ensure that consumers aren’t disadvantaged & will protect Uber’s partner-drivers from sudden drop in volume of business. In August this year, RBI had mandated that businesses that route online billing internationally, for goods and services purchased online using Indian cards, need to include a…

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