Uber, a taxi aggregator service provide has launched the interrogation of UPI (Unified Payment Interface) for easier payment through their Android based application.
UPI payment is another interface on Uber which is addition to Cash, Credit Card, Debit Card, PayTm. This services is currently available to Android users only. iOS user need to wait for some time for using this services.
Why UPI payment is better than PayTm ?
No need to store the amount in PayTm digital eWallet, UPI application helps user to pay the amount of their ride directly from the account.The best part is, UPI doesn’t require PayTm type minimum balance concept of Rs 350 to book a cab. Currently, in order to book a cab on Uber through PaTm eWallet, one must be having Rs 350 in their wallet. UPI payments need to be authenticated with every transaction where as Paytm has to authenticate only when reloading the wallet through a card transaction.
Earlier many online portal already has introduced the UPI payment through their apps. Few of them are Trucaller, Ola. Facebook’s WhatsApp is also working on a UPI-based money transferring feature for its users in India.
Even search engine giant Google has completed testing of its UPI payment service and is awaiting approval from the Reserve Bank of India to launch.
NPCI contributed to 3.5 billion digital transactions of the total 9.2 billion digital payments recorded last year. NPCI is targeting to contribute about 11 billion digital transactions this year on the back of UPI by year ended 2018.