The American-based transport company, Uber, has presented the Indian riders with the ease of making transactions through the UPI Payments service, an expected privilege that has gone live from July 19.
The Unified Payments Interface (UPI) launched by the National Payment Corporation of India (NPCI) and regulated by the Reserve Bank of India (RBI), came into force on 11 April 2016, and has embarked milestones by integrating with various top-notch companies, out of which the taxi-service, Uber, is the most recent development.
In India, Uber has entitled its passengers to make the payments for the fare via UPI through devices which support it, by an application named as BHIM (Bharat Interface for Money).
Although the arch-rival of this taxi firm, Ola, had linked the UPI payment system in April 2017, Uber waited for the appropriate time to sanction the same to its beneficiaries.
Setting up the UPI (BHIM app) service for sending/receiving money in Uber rides is quite simple and handy.
On the Uber app, the Indian clienteles would behold the UPI as a new option in the Payment section, when the commuter heads to the ‘Add Payment Method’ step during the online mobile payment.
After selection of UPI as the payment mode, the app proceeds to link the existing UPI ID (Virtual Payment Address) of the contributor with the Uber, following which authentication at Re. 1 is charged by the Uber that is consequently reimbursed after the verification process of the payment address.
The donor would then be notified by an SMS from the UPI app to authenticate and confirm the payment procedure. On confirmation, the Uber app in the smartphone reflects the UPI as a payment mode for Indian enthusiastic travellers.
Uber is hosting their Virtual Payment Address (VPA) with the Axis Bank, and therefore the uber@axisbank as the merchant ID is revealed to the payer during the payment confirmation step.
Uber services in India, have been indulging in Digital Payments from the start, with the Paytm integration and Airtel Money proceedings, ahead of its integration with the UPI services.