Indian Taxi Companies Imitate Uber

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After complaining about US based taxi Uber's payment process, Indian taxi companies have decided to join them and follow this idea.

Uber, using an international payment gateway, received complaints from many taxi operating companies because it was getting its way around the two stage authentication process made mandatory by RBI. They were also making ways to store credit card details of its customers.

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Operators like Meru Cabs, Easy Cabs and Mega Cabs, who come under a governing body called The Association of Radio Taxis, also plan on setting up collection offices in other countries to be able to achieve single-level authentication.

Other operators like Ola-Cabs are planning to set up mobile wallets, an option that allows a person to pay via their smartphone, instead of cash or credit card as the battle of India's INR 36,000 crore taxi service market becomes intense.

Bhavish Aggarwal, Co-Founder & CEO of Ola-Cabs, says that Uber Cabs has shown that there is demand for such a service. He says soon there will be services like Ola Money, which makes it easy for customers and they can chose the way they want to pay.

Aggarwal however says that cash is still supreme and the in-car credit card service did not work well in Bangalore.

Uber India say that credit card is their only mode of payment for their service and they will follow the law.

According to Sunil Wattal, a professor at Temple University in the US, says credit card and internet technology is still to be spread across many places in India.

Indian operators are not looking to set up offices abroad just yet because there could be issues when it comes to legal compliance with Indian laws.


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Story first published: Wednesday, August 20, 2014, 8:01 [IST]
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