1. Uber in talks with NPCI to bring UPI-based payments

Uber in talks with NPCI to bring UPI-based payments

US Based online taxi aggregator Uber is in talks with National Payments Corporation of India (NPCI), as it tries to find ways to introduce UPI based payment option on its platform.

By: | Updated: May 31, 2017 7:44 AM
NPCI, uber, online taxi aggregator, National Payments Corporation of India, UPI based payment option, Apurva Dalal, Uber app, uber news, Uber India Systems Uber currently allows riders to make payments in cash, besides using debit/credit card. As for payment wallets, riders can use Paytm. (Image: Reuters)

US based online taxi aggregator Uber is in talks with National Payments Corporation of India (NPCI), as it tries to find ways to introduce UPI based payment option on its platform, Apurva Dalal, site lead, India engineering, told FE on the sidelines of Uber Techday held in capital on Tuesday. “While nothing has been finalised yet, we are looking at various options with UPI being one of them, on how to make the entire system of payments extremely convenient for both drivers and riders,” added Dalal.

Uber currently allows riders to make payments in cash, besides using debit/credit card. As for payment wallets, riders can use Paytm for transaction which has been embedded in the Uber app. Moreover, the company which has total 100 staffers in its two technology centers in Bengaluru and Hyderabad is looking at beefing up its technology team in the two cities.

While refuting to say the exact number of engineers it plans to recruit, Dalal explained that Uber plans to hire designers, engineers, amongst others. Meanwhile, following in the footsteps of its competitor, Ola which operates Ola Play, Uber too has introduced screens in select cars.

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“We want to understand the kind of entertainment consumers would prefer on a ride, hence as a pilot we have introduced a few screens in some of the cars. So that if we plan to roll out screens at a large scale in the future, consumers should find value in it,” said Vinay Ramani, head of global growth, Uber.

Uber currently has operations in 29 cities in India. The company’s India arm Uber India Systems, posted a six-fold jump in its net profit at Rs 18.7 crore in FY16, according to the company’s filing with Registrar of Companies (RoC). During the period, revenues increased five-fold to Rs 375 crore. In its first year of operations in FY14, Uber India Systems had made a profit of R7 lakh on a revenue of Rs 2.2 crore.

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