Good news for Uber riders! The cab aggregator firm has launched United Payments Interface (UPI)-based payments system on its app in India.
UPI allows users to make payments directly from the bank account, instead of relying on cash, digital wallet or their debit card information.
The feature will be available for both iOS and Android users.
Uber will also join hands with Axis Bank and HDFC Bank to introduce this facility.
The government of India had rolled out a UPI-based app called Bharat Interface for Money (BHIM) last year, which is integrated with UPI.
— Ravi Shankar Prasad (@rsprasad) August 23, 2017
Minister for electronics and IT, Ravi Shankar Prasad who was present for the launch said, “Integration of Uber app with UPI-BHIM will boost the digital economy of India.”
The minister said that India’s digital economy will worth $1trillion in the next five years. Urging bankers to build momentum for seamless low-cost payment with affordable technology, he said, “India’s digital payments economy has the potential to be bigger than $500 billion.”
“UPI integration will bring millions of riders and driver partners into the digital payments ecosystem,” the company said in a statement, adding that this move will help move towards more cashless transactions.