Uber has announced UPI (Unified Payments Interface) integration for their app in partnership with National Payments Corporation of India (NPCI) and banking partners Axis Bank and HDFC Bank. Axis Bank will enable the UPI integration for riders and HDFC Bank will make it easy to access BHIM app for driver partners. This feature was in the testing phase for a month and now users can add their UPI IDs in the app.
On stage @rsprasad unveiling @Uber’s new initiative towards cashless India powered by @NPCI_BHIM @UPI_NPCI @AxisBank @HDFC_Bank pic.twitter.com/aQ1Afo3A9l
— Nikhil Chawla (@nikhilchawla) August 23, 2017
Uber’s UPI integration is a truly comprehensive roll-out, that allows riders to even create UPI IDs using the Uber app and initiate their journey onto digital payments. With over 9.4 million Uber trips a week in India this July, the potential for encouraging adoption of UPI across riders is immense, said the company. Through the steadfast adoption of BHIM over the next few weeks among its 285,000+ weekly active drivers, the move will additionally enable over 450,000 registered drivers on the Uber platform to experience the power of UPI.
launching the integration, the Hon’ble Union Minister of Electronics and Information Technology and Law & Justice, Government of India, Shri Ravi Shankar Prasad, said “India’s digital economy will become a $1trillion economy in the next five years. India’s digital payments economy alone will be bigger than $500 billion. Integration of Uber app with UPI-BHIM will boost the digital economy of India.”
Mr. David Richter, SVP-Global Business, Uber said, “We are proud to be a partner in the government’s monumental mission to create a digital payments led society and thrilled to announce UPI integration, a significant collaborative step towards unlocking the potential of fintech innovations in accelerating the growth of the nation’s digital economy. Uber, like several other tech companies in India and around the world, depends on consumers being able to frequently make low value payments with minimal friction. UPI integration will bring millions of riders and driver partners into the digital payments ecosystem, offering them another secure and seamless payment interface and bolster the nation’s digital payment revolution.”
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