Uber, Amazon and Google are working towards foraying into Unified Payment Interface (UPI), according to a latest report from ET. According to National Payment Corporation of India (NPCI), the cab aggregator is expected to launch UPI via BHIM app integration by this month.
“Since about 60% of these cabs drivers still get paid in cash by customers, UPI payments will help Uber’s drivers make their payments to Uber using UPI”, NPCI CEO AP Hota told ET. An Uber spokesperson said that the company is looking at offering riders the option to use their existing UPI IDs to pay for their Uber rides. It must be noted that Uber’s rival Ola made the UPI integration live in April earlier this year.
Hota further said that Amazon is also discussing the launch of UPI with a few bank and the process is currently under testing. The company will not develop its own app and instead use a pay button for UPI. Another company that is looking forward to launch UPI payments is Google. The company has almost completed testing for the integration and will launch the service in the next two to three months. It is currently waiting fro RBI’s approval to launch the service in India. “Google is developing a separate India-focussed app, which it will name differently, in integration with a bank,” added Hota.
Last month, UPI’s monthly transactions crossed the 1-crore, as more banks and private companies are starting to adopt the payment system. Popular messaging app WhatsApp is already in talks with SBI and NPCI for Unified Payments Interface (UPI) integration in India. Homegrown messaging app Hike Messenger tied up with Yes Bank for UPI and wallet service.