In a bid to counter the cash crunch post-demonetisation, the Mumbai Metro has tied up with mobile wallet Paytm to issue single and return journey tokens in real-time cashless transactions.
The Mumbai Metro One Pvt Ltd (MMOPL) announced the tie-up with the leading e-wallet on Wednesday.
Commuters can install and recharge the Paytm app on their mobiles, switch it on, scan the QR code for identifying Mumbai Metro as the payee, and pay the correct amount of fare.
A unique transaction ID will be displayed on the Paytm app and the mobile phone with the ticketing officer at the counter will receive a SMS with the same transaction ID.
After confirming the match, the ticketing officer will issue the token for the journey, completing the real-time cashless transaction in just a few seconds, said MMOPL spokesperson.
“Mobile cashless transactions are the future and we are pioneering the issuance of single and return journey tokens through it, making it convenient for the commuters,” the spokesperson said.
The same app would help cover other products like store-value pass with the same procedure, and help the commuter to take the Metro train to his/her destination.
MMOPL, promoted by Reliance Infrastructure, is Mumbai’s first Metro railway running 11.5 km between Versova-Andheri-Ghatkopar in east-west corridor.
With the tie-up, Mumbai Metro has become the first metro system in the country to go cashless for both single and return journeys.
The existing popularity of Paytm among the urban population along with the current cash crunch is expected to increase the feature’s adoption significantly.Back to latest news