Reliance’s Jio hails Uber ride in payments battle with PayTM
Tue Feb 21 2017
Rajesh Sharma (2002 articles)

Reliance’s Jio hails Uber ride in payments battle with PayTM

MUMBAI Uber users in India, who until now had Chinese Internet giant Alibaba-backed PayTM as the only payment wallet option available to book a ride, will now be able to pay through Reliance Jio Infocomm’s [RELIB.UL] Jio Money.

Reliance said on Monday it had struck a partnership with Uber Technologies Inc which will help it challenge PayTM’s dominance in digital payments.

Such transactions rose in popularity after a cash crunch caused due to the Indian government’s move to scrap some currency notes in November.

Reliance, which launched Jio Money in December, said it also plans to soon allow users to book and pay for Uber rides from the app itself, a feature that PayTM does not offer.

 

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.

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