Online Cab provider Uber announced free cab rides this week in India, first country where it has made such an arrangement. This promotion is the latest in a series of major moves in India, following the launch of the Paytm wallet on its website.
Earlier this month, Uber tied up with payment services firm Paytm after the RBI said it had to have a two-step verification for card-based transactions and users of the taxi app will have to open pre-paid virtual wallet accounts in order to make payments. Users of the app will have to now open accounts with the payment services firm and pre-load their accounts with cash that can be made through credit or debit cards.
This offer is applicable till 6:00PM November 30, and is only applicable for users who have integrated their Paytm wallets. Uber has introduced this offer across all Indian cities for uberGO, uberX and UberBLACK rides.
Uber said in a statement-
Once you link your debit card or bank account via a Paytm wallet to your Uber account, you’ll easily be able to top up your wallet using multiple payment options.
Those who have already registered with Paytm can just link their accounts with Uber. Others will need to sign up with Paytm which involves regulatory steps like verification of a phone number and email address.
A report revealed that Uber and close rival Ola are absorbing more than 50 percent losses on certain journeys to build their brand among consumers. In addition, drivers claimed that, beyond a standard bonus for taking a certain number of trips per day, Uber rewards them with cash just for keeping its app open all day.