Uber Complies With RBI norms now accept credit card payment in India
Taxi-hailing app Uber Technologies has said it will accept payments through credit cards from its riders in India now.
The service will start from July 13 and customers can pay for all Uber rides using international and Indian credit cards, the company said.
It will be available to all Android users immediately while Apple iOS users will be able to use the service in a few weeks, it said.
Following RBI regulations, there will be a two-step authentication process built into the app, and customers will have to enter an online banking pin or one-time password to make a fare payment, Uber said in a statement.
"While we now accept credit cards. We continue to accept Paytm Wallet as a mode of payment," the company said.
Earlier, the company had run into regulatory hurdles after the Reserve Bank objected to its payment system as it had not included the two-step authentication process. Uber was then asked to comply with the regulatory norms.
Following the RBI order, Uber changed its payment method and partnered with India-based virtual wallet provider, Paytm.
The company said it will accept all major credit cards issued by Mastercard, Visa and American Express.