Quick Ride works on a prepaid points system where points are exchanged between members. It's designed to be cash-less to avoid daily cash hassles. There are 2 types of points on the system: Ride taker can pay for carpool services in three ways 1) Linked existing prepaid wallets (paytm) to the Quick Ride registered account. Upon completion of ride, points will be debited from linked wallet. 2) Using Quick Ride Closed-Loop Wallet. Ride takers can choose to load their Quick Ride wallet as a payment option for the carpool services. Ride takers can load the wallet using credit card, debit card, net-banking or wallets. Amount loaded in the Quick Ride wallet reflect in the form of points, where 1 point equals to 1 rupee. Such points can only be utilised on Quick Ride
platform, for making payment to avail only carpools from the ride givers 3) Pay later with Simpl. Ride takers can avail of 'pay later' service offered by Simpl, on the Quick Ride platform. Ride givers can link their Simpl account with the Quick Ride account and choose to make payment for their rides within the due date ser forth by Simpl. Ride giver Redemption of points accrued by the Ride Giver is through semi-closed PPI issued by Paytm/ Federal Bank(TMW) or closed-loop petro cards by Shell/HP for purchase of fuel. Mode of redemption 1) Ride giver can link his/her existing wallet to receive instant ride points for each carpool. 2) Ride giver can also request periodic redemption of ponts to his/her existing wallet In both cases, the ride giver is paid after deducting commission(including GST) of Quick Ride Points are transferred to you by your co-riders at the end of every ride as per the per kilometre fixed rate.