After Mar 15, Paytm wallet to go off Uber
MUMBAI: Cab aggregator, Uber, has asked its users to discontinue using Paytm wallet while booking rides after March 15 and advised them to switch to other e-payment modes or make payments in cash.
One of the Uber app users, who refused to be identified, received an official communication in this regard on March 5.
“As per a recent direction from the Reserve Bank of India (RBI), Paytm users will not be able to top up their wallet after March 15, 2024. Please note that you can still utilise your existing Paytm wallet balance to pay for your Uber rides after March 15. If you have been using Paytm wallet, we suggest you either top up your wallet with sufficient balance before March 15 or switch to another payment method for a hassle-free uninterrupted Uber experience,” said the email from Uber, shared with HT.
People aware of this development said Uber app users could choose to pay alternatively through Uber Cash, Amazon Pay, UPI, and credit/debit cards. “We have also mentioned steps to add new payment methods and choose the desired mode of payment. These have prepaid e-wallets,” a source said.
Cab aggregators claim that one can continue to use, withdraw or transfer funds from their Paytm account up to the available balance. After March 15, they will not be able to top up or transfer money into the wallet or receive any credit, other than cashback or refunds.
When contacted, a Paytm spokesperson said the claim that Uber is discontinuing Paytm as a payment partner is incorrect and misleading.
“Paytm remains a preferred payment partner for Uber. Users
Paytm remains a preferred payment partner for Uber. Users can top up their wallets until March 15, 2024, and continue to use them. Uber users can also use Paytm UPI for payments. PAYTM SPOKESPERSON
can top up their wallets until March 15, 2024, and continue to use them. After March 15, it will no longer be possible to top up or transfer money into the wallet or receive credits (except for cashback or refunds). However, users can still use the existing balance in their wallets. Uber users can also use Paytm UPI to make payments. In addition, Paytm payment gateway continues to process Uber transactions as a payment aggregator,” the spokesperson said.
The RBI had initially said that from February 29, Paytm would not be permitted to make deposits, credit transactions, top-ups, or withdrawals in any customer account, prepaid card, wallet, FASTAG, NCMC card, etc.
This deadline was extended to March 15. Paytm had previously said that it would form new alliances with banks and take steps to ensure that its users and merchants received smooth services. In the past, Paytm had also said that one could continue using the existing balance on FASTAG. The RBI had allowed Paytm FASTAG customers to finish their balance money, but they could not load more from March 1.