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Betting on India, Mexico and Brazil to drive growth for company: Uber

Uber said it is focusing on launching solutions that enhance customer experience on its platform

Press Trust of India  |  New Delhi 

Uber
Uber

US-based cab aggregator on Wednesday said it is betting on India, and to drive growth for the company.

The firm, which competes with SoftBank-backed Ola in India, said it is focusing on launching solutions that enhance customer experience on its platform.


"There are three countries that we are betting on -- India, and We have seen phenomenal growth in India, in July this year over last, we have seen 115 per cent growth," SVP (Global Business) David Richter told reporters here.

He added that the company has taken a number of steps -- including its latest move to introduce UPI-based payment on its platform -- to enhance the experience of riders and driver- partners.

Richter said India, which is also one of its largest markets outside the US, will remain a priority for the company globally.

Talking about introduction of initiatives like UPI, Minister of Electronics and IT said the government's has been a "transformative programme".

"The most important component of is that we must have technologies that are affordable, inclusive and developmental," he said.

He highlighted how engaged Indians are with products like WhatsApp, payments and the rising smartphone adoption in the country.

"I would urge all the bankers also to ensure that payment becomes a success by proper coordination with low-cost technologies," he added.

today announced integration of Unified Payments Interface (UPI) with its app in partnership with National Payments Corporation of (NPCI) and partners and

The move will enable over 4.5 lakh registered drivers on the platform use UPI to receive payments.

"UPI integration will bring millions of riders and driver partners into the payments ecosystem, offering them another secure and seamless payment interface and bolster the nation's payment revolution," Richter said.

UPI allows consumers to transfer money from one bank to another using a virtual address. There is no need of account number, IFSC code or MMID to carry out the transfer.

Previously, allowed users to pay for their via cash, debit/credit cards and Paytm mobile wallet.

With the integration, users can pay for the using UPI right from the app by entering their UPI PIN.

In April, Ola had also integrated UPI with its platform.

UPI-based transactions have been growing and stood at over 11 million in July. UPI was launched in August last year.

First Published: Wed, August 23 2017. 21:27 IST
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