Paytm just announced a new update to your Paytm wallet transaction workflow. Starting today, Paytm will be blocking your Uber can ride money during transit. This is purely a feature to curb people from misusing the feature.
It is reported that people have been misusing the Paytm wallet payment feature on Uber, by using the Paytm wallet money during ride and thus eventually gaining a free cab ride.
The latest update ensures that the Uber cab ride amount is put on hold on your Paytm wallet account and does not let you to use it for other payment transactions.
Uber cabs shows prices upfront. They do not charge users after the end of the ride like Ola cabs and other players. Uber’s upfront pricing system enables this format to happen.
If your ride amount is Rs 350 or greater, your ride amount will be put on hold and cannot be used for other Paytm wallet payment transactions. You cannot use on BookMyShow, eBay and at other online or local stores. Once the ride’s ended, the ride amount will be deducted and the rest will be refunded back to your Paytm wallet account for regular use.
In case your ride amount prediction is less than Rs 350, Paytm will still continue to block Rs 350 on your Paytm wallet during the transit. This is because Uber cabs mandates Rs 350 as a minimum Paytm wallet balance to initiate cab rides.
Also, the team confirms that, in case your ride amount was predicted to a higher value, but you cut short the trip, the rest will be refunded to your Paytm wallet account seamlessly and will enable you to use the money for future payment transactions. Source.