You can now pay for your Uber rides using UPI
No cash? No problem. Uber, the ride hailing app has integrated support for Unifie Payment Interface (UPI) in the app allowing users to pay directly from their bank account.

UPI makes cashless digital payments easier as there no need to keep a minimum balance as in the case of Paytm or register debit/credit cards in the app.

The integration is backed by partnerships with Axis and HDFC bank alongwith support from NPCI. With the digital economy projected to contribute around $500bn to the GDP by 2020, Uber wants to be at the forefront of the adoption of cashless payments.

The integration, however, is not complete yet. Only riders can pay using BHIM/UPI while support for driver partners will be added later.

Users can either pay using their existing UPI ID or create a new one in the app itself. Uber has made provisions to sign up to the UPI platform within the app.

The move comes after homegrown rival Ola added support for UPI payments earlier this year in February.

At the launch, Uber claimed it now has 285,000 active users taking rides with 9.4 million rides a week in July itself. With UPI, Uber aims to streamline paying for rides into a much smoother experience.

The Unified Payments Interface (UPI) is a peer-to-peer payment service that was launched by the Government of India as part of its Digital India mission post demonetisation in November last year.

As a result of a dearth in cash, the payment system was adopted quickly by apps and services like Paytm, Hike messenger, IRCTC, Ola Cabs and the likes.

However, with financial literacy still at low levels in the country, it remains to be seen whether it will make a significant impact in pushing digital payments. Although, if apps like Uber and Ola which are used frequently by citizens in the country promote it, the day might soon come when cash will be a obsolete medium of payment.