Uber Picks Payment Processor To Resume Card Payments In India

Uber is once again accepting credit card payments for its service in India after eight months of supporting an in-app wallet payment platform in the cards’ stead.

According to TechCrunch, which reported the move on Monday (July 13), the company has set up a collaboration with MobiKwik, a payment processor, to satisfy mandates from the Reserve Bank of India, which require the company to have what is known as “two-factor” authentication protocols in place to accept payments when a card is not presented physically.

Under the terms of two-factor authentication, users must supply information that includes something that is specific to them (to the best of their knowledge), such as a password or even biometrics.

The relationship with MobiKwik will also let Uber accept debit payments, a method that TechCrunch reported “isn’t usually covered” by the ride-sharing company.

The mobile wallet feature will still be a payment option available for the company, said TechCrunch, and still will be done through Paytm, a payments firm backed by Alibaba. Under the terms of that payment platform, and in the wake of legislation last year that effectively shuttered credit card payments for Uber for the past several months, consumers have been able to load balances with debit or credit cards.

But, said TechCrunch, that methodology had run into some criticism as being too slow in comparison to the Uber cashless payment system that has been in place elsewhere.

For now, at least, the credit card payment system in conjunction with MobiKwik will be geared toward Android device owners. But, the tech site noted, there will also be credit card service available for iOS “in the coming weeks.” In addition, the company is also trialing a rollout of cash payments for all its services in the Indian city of Hyderabad.

To check out what else is HOT in the world of payments, click here.



Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border. Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Click to comment