You might have noticed the stark difference between these two giant transport network companies (TNC): Uber purely uses cashless payments while GrabCar’s payment is cash.
Recent news however seems to tell a different story as to the direction of these TNC’s, especially here in the Philippines.
GrabCar has announced that it will be launching soon its new payment gateway called GrabPay. GrabPay will enable passengers to pay using their credit cards, a feature that Uber used since its inception. Aside from paying for your rides, GrabCar seems to be preparing GrabPay to be a full fledged payment gateway. A different beast on its own. Let’s all watch out for that.
While Grab is on its toes developing its cashless payment gateway, Uber is now rolling out a test for cash payments.
Uber has released information that they are to do testing on a system that will enable its partners to accept cash. Uber partners have been informed about the new system and drivers are required to watch a training video on how to implement the cash payment scheme. (READ ALSO: How to register in Uber if you don’t have a credit card)
Here’s the training video that partners have to watch to learn more about Uber’s new cash system. If you are a rider, it would be best to watch the video also so that you know the new system and you know the policies of both riders and partners.
What does this mean for GrabCar and Uber?
For GrabCar, it means that it would like to put in a system that is more secure and easier to monitor. Credit card payments will also give convenience to its riders and improve their user experience. Having a credit card option would also encourage other riders (especially those using Uber) to ride GrabCar as well.
On the other hand, Uber’s move to accept cash will expand it’s market vastly to the non-credit card holders, which is about 95% of Filipinos. This is big for Uber. If they can pull off their cash payment system, there’s a high probability that they can capture a big chuck of the market.
These new payment systems will be beneficial for both TNCs and their users. TNCs will gain new customers and users will have more payment options.
Some points to ponder for these two TNCs though…
Will they be able to implement a credit card system that is as seamless as Uber? How will it affect those who are paying cash? Will reliability and security be improved with this feature?
How will they maintain the security that riders and partners are relying on? How will Uber continue to differentiate itself from the regular metered taxis?
We’ll find the answers to these questions soon. Hopefully to the benefit of the ride sharing community.
Feel free to share your opinions in the comments section below.