Uber launches debit card payments in India
Yesterday Uber launched debit card payments in India, to compliment the launch of credit card payments which happened earlier this month. An Uber spokesman stated: "As we continue to focus on our mission to re-define urban mobility in India, riders will have the ability to choose from debit/ credit card payments, Paytm (digital wallet), and Cash (in 6 cities)." 
Uber, the technology-based cab service provider, on Monday launched debit cards as an additional payment option for all users across the 18 cities that Uber operates in, in India.

In July, credit card payments was re-introduced in India for all Android users, in partnership with MobiKwik. Now, users across iOS and Android platforms have the option to pay via debit/credit cards.

"Adhering to RBI regulations, there will be a two-factor authentication flow built into the app and users will have to enter either their online banking pin or their one-time password to request for a ride using their debit/credit card," the company said in a statement.

Commenting on the new payment mode rollout, an Uber spokesperson said: "At Uber, we're about making transportation as convenient and hassle-free as possible."

"As we continue to focus on our mission to re-define urban mobility in India, riders will have the ability to chose from debit/ credit card payments, Paytm (digital wallet), and Cash (in 6 cities)," he added.

The company earlier said that it was allowing cash payments, too, in the six cities of Ahmedabad, Chandigarh, Hyderabad, Jaipur, Kochi and Pune. The move assumes significance as Uber's global business model does not allow cash transactions.

Last week, Uber was reportedly set to invest $1 billion (roughly Rs. 6,404 crores) in India, which will bring its investment on par with that in China, the Financial Times reported. Uber said that this move would help its service reach 1 million daily rides by March 2016, the first time the company has set such target for India, FT said. Amit Jain, president of Uber India, said the company was "extremely bullish" on the Indian market and that it continues to see a 40 percent monthly growth, FT reported.

Written with agency inputs