Uber planning its own wallet?

TakeAways

• Uber might roll up with its own payment wallet
• 2-factor authentication imposed by RBI might be tiring for its riders
• Expansion to more cities in India is under consideration.

Global App-based taxi service providers Uber is keeping its options open of having its own payment wallet in India despite its collaboration with local digital payment wallet Paytm. The rumors started when Uber expressed their discomfort with the RBI’s(Reserve Bank of India)  decision of having a 2-factor authentication process. Uber considering the move as the process might turn out to be cumbersome for its riders.

“We recently announced our partnership with Paytm and I think part of Uber’s success and strategy is to work with local companies. From my perspective, I like to have local partnerships to make the service available to our customers, we are happy to continue with that. I am not going to say that (dropping the idea of having own wallet). We always got our options open.”

-Eric Alexander, head of business, Uber Asia, said when asked about the proposal of having its own payment wallet.
The American multinational online transportation provider Uber is seriously considering its expansion in India as a major market. Uber is having its service in 66 countries and 449 cities worldwide and is in mood of expanding its service from 27 to 50 cities across India. Currently Uber App supports debit/credit card, Paytm wallet and Airtel Money payment option in India. Uber consider its service in India in critical point as many counterparts like ‘Ola’ is turning out successfully and surge-pricing issues arise.

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Credits: Times of India