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RBI gives more time to Uber

RBI gives more time to Uber
Parichay Malvankar
Written by Parichay Malvankar

RBI has granted more time to Uber, the San Francisco-based cab operator to comply with the e-commerce payment rules in India. The previous deadline has now been pushed to November 30th so that the company follows the appropriate two-step authentication process for payments received.

Uber was found to be using an overseas payment gateway for payments from clients and the government had informed them that this procedure cannot be allowed for further transactions. Central banks have earlier told banks and operators that payment made should be in rupees when a credit card is not physically presented.

Since Uber is working closely with RBI for this matter and are committing to provide safe and reliable commuting options to the customers, RBI has granted an extension to the previous deadline.

Uber uses card details of the customers stored during the membership enrollment and charges the customer automatically at the end of the ride.

Source: ET Auto