Uber Keeps Pace With Lyft, Makes Deal With Regulators

What's Next In Payments®
6:22 AM EDT February 1st, 2013

eHailing app Uber has reached an agreement with the Californio Public Utilities Commission, avoiding the $20,000 fine and cease-and-desist action levied against it in late 2012.

“The agreement states that ride-sharing — or rides provided by drivers not specifically licensed to drive a limousine or taxi — is legal too,” Uber said in a statement. “This paves the way for Uber to begin offering ride-sharing services in California in the near future.”

The news comes just one day after Lyft made a similar deal with the CPUC before expanding to Los Angeles.

Read the full story here.

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