Mexico City and Uber come to regulation agreement

Uber's drivers will need permits to work in Mexico City and the company will have to pay into a transport fund, according to a draft government plan seen by Reuters, in what would be the first such regulation for the ride-hailing app in Latin America.

The proposed regulation bans Uber and companies like it from accepting cash payments from customers, offering prepaid plans or using taxi stands.

Uber will have to pay the government 1,599 pesos ($101) per year to license each vehicle on its platform and give about 1.5 percent of domestic revenue to a . . .

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