TaxiForSure ties up with Paytm to provide seamless booking and payment solution

BENGALURU: Cab aggregator Taxi-ForSure has revamped its mobile app and tied up with mobile payment services provider Paytm in an attempt to offer seamless booking and payment solution to its customers. The Bengaluru-based company has been aggressively spending on expansion and technology development since the previous quarter to make up for lost time after a cash crunch forced it to sell itself to bigger rival Ola in March for $200 million (aboutRs 1,280 crore).

"Eighty per cent of our bookings come from the mobile app and more than 35% of our customers use cashless wallet,"said Arvind Singhal, who became the CEO of TaxiForSure post the merger.

Customers of TaxiForSure will now be able to book a cab in one touch and in less than five seconds through a technology that even its parent Ola does not offer, said Singhal, a BTech from IIT Bombay who joined the company from McDonald’s, where he was the director south-marketing.

TaxiForSure, which earlier had an in-house wallet, will now use that to store credits and companyled promotion money while Paytm will be the company’s outsourced rechargeable wallet.

Uber too uses Paytm as its only payment method since it got into trouble with the Reserve Bank of India last year for violating the two-step authentication mandate. However, while Paytm is Uber’s only payment method, TaxiFor-Sure will accept cash.