Uber to be in a partnership with China’s Alipay and India’s Paytm where the users will be able to ride in both the countries. While earlier Indian users used credit card as a mode of payment for the rides now they can pay via Paytm, and Paytm will not charge any conversion fees as the fare will be based on current rates.
Paytm CEO Vijay Shekhar Sharma said,
“We will enable users to pay for their rides in Indian currency while they travel abroad. The integration process is on and should be live by month-end… Users will be able to pay in Indian rupees based on current forex rates.”
This partnership will allow the users to use Paytm services while booking a Uber cab abroad without downloading the Uber App. Alipay users can also do the same. Alipay’s services are currently available in 15 countries, now they can have clients over 68 countries using Uber services.
Eric Jing President of Ant Financial said
“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. The collaboration aims to bring better experiences for our users globally.”
Amit Jain President of Uber India said
“From Uber’s perspective, it is access to the user base and then it is the ability for that user base to use Alipay to pay whenever they are travelling. From an Alipay perspective, it is giving them access to the transaction volume of Uber as well as access to other countries.”