Your money is safe, says Uber's pay partner Paytm

Cab aggregator app Uber faces uncertain times ahead with the New Delhi government banning their services following the heinous rape of a 25-year-old woman by one of the company's drivers last week.

In the event that Uber will not be functioning for a while in the capital and perhaps, other cities in the future, what becomes of the users and their mobile wallets, through which they make payments? Paytm, the current payment partner of Uber, is assuring costumers that their money is in safe hands.

In a conversation with ETPanache, Vijay Shekhar Sharma, CEO, Paytm, emphasised that Uber consumers' wallets were not close looped (in other words blocked), unlike payment services offered by other taxi app providers.

Hence, they can easily transfer the leftover money to their bank account or use it to shop at other destinations. "I am committing on the wallet balance of consumers. Your money is safe and secure whether Uber exists or not. Uber is just a merchant for us," said Sharma