Uber unveils new wallet-based payment system in India

Washington: Uber has reportedly launched a wallet-style payment system in India in the wake of recent regulations, according to which all transactions need to pass through domestic payment systems.

Tech Crunch reports the new payment method now allows customers to essentially pay with their debit card or net banking account, in addition to a credit card as before. However, it does not support cash payments.

Customers can put in money in their pre-paid wallet, which is then used to pay for their taxi rides.

Uber deducts payment from the wallet, rather than from a debit or credit card.

The new system, backed up by India-based payment platform Paytm, is effective immediately in the country, although international credit cards can still be used, the report said.