According to Uber, nearly 60 per cent of app based taxi drivers in India continue to make cash transactions.
This move could help in the mass adoption of governement-led fintech innovations such as BHIM/UPI for millions of riders and drivers using the platform.
With over 9.4 million Uber trips a week in India this July, the potential for encouraging adoption of UPI across riders is immense.
Equally significant will be the impact on the driver side. Through the steadfast adoption of
Inclusion of decision-makers
After demonetisation, businesses in India have witnessed a significant uptick in adoption of digital payment methods over cash transactions. By being a partner in the government's mission to create a digital payments led society, the company is also trying to be more inclusive with decision-makers such as the government and formal banking institutions in a country that still doesn’t have laws for the fast-pace innovation that tech companies like Uber bring, constantly.
This integration now allows riders to even create UPI IDs using the Uber app directly.
By being more accessible in terms of payments, this move bolsters UberSHAAN - an effort to generate 1 million livelihood opportunities on the Uber platform by 2018.