A taxi driver taps on her ride-hailing app after dropping off a client and collects her taxi fare digitally. It is a scenario so common that it probably happens in the world’s most populous country every minute, if not every second.
Behind this seemingly simple transaction is a long list of processing procedures including identity verification, payment authorisation, data transfer and encryption, clearing and settlement, among others.
As a pure-play ride-hailing platform, it is clear that the erstwhile Uber China now part of Didi Chuxing was never designed to handle such complex payment process.
“Very few people know that we customised and...