Bangalore-based Serendipity Infoline Pvt Ltd, which operates internet-based taxi aggregator TaxiForSure, has tied up with Alibaba-backed online payments platform Paytm.
The move will allow users of TaxiForSure to go cashless and pay through Paytm's pre-paid wallet, the company said in a statement.
'Our mission is to make TaxiForSure the preferred brand for commute in India, and we believe that the journey towards this goal will be fueled by strategic partnerships. Now, over 70 million Paytm users can use TaxiForSure to commute," said Arvind Singhal, CEO, TaxiForSure.
Customers can link their debit card or bank account via a Paytm wallet or recharge their Paytm wallet and use it to pay for their rides.
In March, cab hiring startup Ola had acquired TaxiForSure in what largely a stock transaction. Interestingly, Ola also has a prepaid wallet called Ola Money.
Paytm wallet can be recharged by using a credit card, debit card or net banking account. Once the ride is completed, the fare is automatically deducted from the customer's Paytm wallet. Bill notification will reach the customer through SMS or email.
However, the service is optional.
The company has also launched a one-click app option. Here, the user will have the option of opening the updated app and selecting the option to book a ride.
Details of the driver and fare will reflect on the same screen.
TaxiForSure has also improved its app to facilitate bookings in 10 seconds instead of 15.
TaxiForSure was founded in 2011 by IIM-Ahmedabad alumni Raghunandan and Radhakrishna. It has facilitated some five million cab rides for users over the last four years before this acquisition.
Last November, on-demand car service Uber had joined hands with Paytm.