Uber payment system

NEW DELHI: India’s payment system has been a big factor that made Uber change the way it handled transactions in the country, Founder Travis Kalanick said at a conference of start-up businesses on Saturday. The ride hailing company had run into trouble with India’s regulatory requirements which needed two-step credit card authentication for making payments as against direct payment to Uber via credit card details stored in the app. Subsequently last year Uber, which announced a plan to invest $1 billion in India to fund its growth, designed a new credit card payment system conforming with the Reserve Bank of India’s rules.