1. Uber offers ride to travellers from China, India

Uber offers ride to travellers from China, India

International travellers can soon book a Uber ride and pay in rupees via the Paytm wallet

By: | New Delhi | Published: May 4, 2016 5:43 AM

Alipay, the Chinese payment platform, on Tuesday announced, that it has inked a partnership with global taxi hailing app Uber enabling its users to book a ride pay for it, outside China in the local currency. Eric Jing, president of Ant Financial, promoter of Alipay, said users can book a ride without exiting the Alipay app or downloading Uber on their phone when they are travelling abroad.

International travellers can soon book a Uber ride and pay in rupees via the Paytm wallet, said Vijay Shekhar Sharma, CEO and founder of Paytm.

“For Uber, India is the third largest market in terms of trips and our 18-month partnership with Paytm has made India a place of strategic importance for us,” said Amit Jain, president, Uber India.

Uber is available in more than 400 cities across 68 countries and Paytm and Alipay users will be allowed to make payment abroad in their respective local currency via mobile wallets. The partnership will work through a payment network that with convert the cab fare to the local currency of the users and debit it from the users mobile wallet – Paytm or Alipay, Sharma explained.

Sharma said Paytm would be accessible to Alipay’s merchants base in international markets by October. Paytm is using Alipay’s technology to prevent fraud and ride on the wide merchant base which will take shape in the next three-four months, he said.

Alipay is present in 15 countries and collectively Alipay and Paytm see a base of 600 million users as an addressable opportunity. Uber’s partnership with Alipay and Paytm will help it compete against rivals such as Didi Kuaidi in China and Ola in India. “Alipay’s collaboration with Uber reflects a step forward of Ant Financial’s global strategy, and the collaboration also extends to the Alipay’s strategic global partners like Paytm in India,” said Eric Jing, president, Ant Financial.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top