Metro may offer PayTM option to recharge smartcards

Metro may offer PayTM option to recharge smartcards

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Extending its options for digital transactions, Namma Metro is all set to introduce recharge of its smart cards through mobile wallets and to buying tokens.

Bangalore Metro Rail Corporation Ltd (BMRCL) is likely to sign a contract with mobile wallet company PayTM, which is expected to launch the system in October.

Officials, however, declined to give a date.

A spokesperson from PayTM said they were in talks with the Metro authorities but no decisions were made for the launch. “Some tests are going. We can’t comment on the launch date, which will be decided by Metro officials,” he said.

A senior official in BMRCL’s finance wing said they want the new facility to take off to mark Gandhi Jayanthi on October 2 or during the celebration of Namma Metro anniversary on October 20.

“A draft agreement has been signed. There were several issues with the solution the private player quoted. We have demanded that these should be rectified before the launch. It may take another 20 days to complete the tests and ensure there are no glitches. We want the facility to go live by October 20,” he said.

The official said the Namma Metro smartcards bought online have a unique code which can be entered in the PayTM app for recharging. “We want the facility to be extended to those who buy tokens as well. So a passenger can pay through the digital wallet by scanning the QR code at the ticket counter,” the official said.

In July, BMRCL received 60% of the fare revenue, Rs 31.40 crore, through smartcards. However, officials noted that most of the riders still use cash to recharge the smartcards. “Smartcards help in avoiding queues at ticket counters. Digital payments reduce cash transactions, which will ease the administration process,” the official said.