If you are one of those nice guys who try to find a way around the system and when it comes to Uber, getting free rides every time, then the cab hailing company has introduced a new feature to curb misuse when using with Paytm payment system.
From now onwards, when you book a cab via Uber app and have Paytm set as the default payment service, Uber will put a hold on your money from Paytm Wallet during the duration of your trip. That’s essentially upfront payment taken by Uber for the ride.
When you book a cab, a minimum of Rs 350 or the estimated cost of the ride (whichever is higher) will be deducted from your Paytm Wallet. The money is put on hold by Uber for the entire duration of your trip. At the end of the trip, the actual fare is released to Uber. If your fare is less than the held money, the rest of the amount will be transferred back to your Paytm Wallet.
Let’s break into this new feature with an example. You book a cab via Uber app from Point A to Point B. Uber will show the estimated fair, let it be around Rs 450. Uber will then now put Rs 450 on hold on your Paytm Wallet. If you do not have sufficient balance on Paytm Wallet then Uber will prompt you to add money first.
For the entire duration of the trip, Uber will hold the money. At the end of the trip, if your fare comes to Rs 450 then it will be released to Uber. If the cab fare comes less than Rs 450 or the money Uber holds, then the actual fare is released to Uber and rest will be added back to your Paytm Wallet.
Uber new Feature on Paytm
- Uber wants to stop the misuse of its system when using with Paytm wallet.
- When you book a cab via Uber, the estimated fare is deducted from your Paytm Wallet.
- The amount is put on hold in a special account during the entire duration of the trip.
- The money will be released to Uber once the ride is completed.
- Minimum of Rs 350 will be put a hold on your Paytm Wallet.
If in any case, you cancel the ride after booking, the money will be credited back to your Paytm Wallet. Also, if you cut short your trip, then also the rest of the money will be credited back to your Paytm Wallet. Hope this will help Uber and Paytm to curb the ever increasing misuse of its system to loot free rides.