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Uber integrates UPI, BHIM remuneration interface for riders
- Updated: August 26, 2017
Riding on a ‘go cashless’ bandwagon, cab-hailing app Uber on Wednesday launched a extensive Unified Payments Interface (UPI) formation in partnership with a National Payments Corporation of India (NPCI), Axis Bank and HDFC Bank.
The association partnered Axis bank to launch UPI formation for riders and HDFC bank to promote entrance to BHIM for motorist partners.
“India’s digital payments economy alone will be bigger than $500 billion in a subsequent 5 years. Integration of Uber app with UPI-BHIM will boost a digital economy of India,” pronounced IT Minister Ravi Shankar Prasad during an eventuality here.
“The UPI formation will pierce millions of riders and motorist partners into a digital payments ecosystem, charity them another secure and seamless remuneration interface and accelerate a nation’s digital remuneration revolution,” combined David Richter, Senior Vice President-Global Business, Uber.
According to a company, by a indifferent adoption of BHIM over a subsequent few weeks among a over 285,000 weekly active drivers, a pierce will additionally capacitate over 450,000 purebred drivers on a Uber height to knowledge a energy of UPI.
“Since scarcely 60 per cent of app-based cab drivers continue to make money transactions, Uber’s formation with BHIM/UPI will yield a certain impulse to strengthen a adoption of digital payments,” pronounced Dilip Asbe, Chief Operating Officer, NPCI.
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