Currently, Indian users need a credit card to pay for Uber rides taken aboard. Paytm, which is backed by Alibaba, said it will not charge any fees for conversion and the fares will be based on current foreign exchange rates, thehindu.com reports.
“We will enable users to pay for their rides in Indian currency while they travel abroad. The integration process is on and should be live by month-end... users will be able to pay in Indian rupees based on current forex rates,” Paytm CEO Vijay Shekhar Sharma said.
Cab aggregator Uber has also partnered with Alibabas online payment solution in China, AliPay, to enable AliPays mobile wallet user to pay in Chinese Renminbi (RMB) while travelling overseas. In India, Alipay will use the Paytm platform to facilitate the transaction for Chinese tourists.
“An estimated 150 million Chinese are expected to travel overseas in 2016. Now using Alipay, they can book cabs in the 68 countries where Uber operates. It is a huge opportunity,” Ant Financial Services President Eric Jing said.
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