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February 18, 2020

India’s Paytm expands payment partnership with Uber

Indian digital payments firm Paytm has expanded its collaboration with ride-hailing company Uber.

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The extended collaboration will enable passengers to pay for their Uber ride using credit or debit cards via Paytm platform.

The move expands payment alternatives for the consumers. Earlier, payment options were limited to wallet, cash and separate card payments.

Paytm Payments Gateway senior vice-president Puneet Jain was quoted by PTI as saying: “Uber and Paytm have been long-standing partners. We are extending this partnership to a full-stack payment gateway.

“This integration will benefit millions of Uber riders to make seamless instant payments from their cards which might be already saved on Paytm.”

The extended partnership also enables Paytm to offer savings accounts and zero-fee debit cards to Uber’s driver-partners. The driver-partners will also be eligible for cashbacks at Indian Oil and Paytm FASTags among others.

Commenting on the partnership, Uber India & South Asia Business Development director Nandini Maheshwari said: “With the latest credit and debit card integration with Paytm, we hope to promote more digital transactions, reduce cash dependency on the platform and improve the country’s digital financial infrastructure.”

Last month, Paytm introduced ‘All-in-One QR’ code for merchants. The launch will allow businesses to accept payments through Paytm Wallet, Rupay Cards and other UPI based payment apps.

 

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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