Uber will resume accepting payments through credit cards in India from Monday according to a press release issued by the company. The move comes eight months after the San Francisco-based taxi-hailing service tied up with PayTM to comply with RBI regulations that mandated that credit payments be subject to two-factor authentication.
"You can now pay for all your Uber rides using international and Indian credit cards. Adhering to the RBI regulations, there shall be two-factor authentication flow built into the app and, we will need you to enter your online banking pin or one-time password before we can charge the fare to your card," the company statement said.
Previously, Uber used to store customers' credit cards and the money used to automatically be debited from these cards at the end of Uber rides.
This isn't the first time Uber has tweaked its business model to comply with local regulations in India, its largest market outside the United States. In April, it added autorickshaws to its list of travel options, just like rival Ola did last year. And in a stark departure from its worldwide business model, the company started accepting cash payments in Hyderabad in May.
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