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Cashfree Payments Forays Into Digital Payments

The newly-deployed payments system will minimise human touchpoints by reducing check-ins and transit time at the ticket counters, thereby making the Metro journey more seamless and efficient.

Leading payments and API banking solutions company, Cashfree Payments (Cashfree), today announced its association with Mumbai Metro One Private Limited (MMOPL) to enable online payment for metro passengers. Passengers of Mumbai Metro can now purchase, recharge, and avail individual tickets using Cashfree Payments’ QR code, thus promoting increased digitisation of the services, apart from cashless transactions.

Available at all 12 stations on the Mumbai Metro Line 1, passengers can use any UPI app such as WhatsApp, Gpay, Bhim, Phonepe, to scan the Cashfree Payments’ QR code and complete the payment. The newly-deployed payments system will minimise human touchpoints by reducing check-ins and transit time at the ticket counters, thereby making the Metro journey more seamless and efficient.

Reeju Datta, Co-founder, Cashfree Payments said, “The QR code feature launched in association with Mumbai Metro One will help create a safe and efficient payments experience for daily commuters while avoiding long queues and a more pleasurable transit. Passengers can now scan our QR code before any automated fare collection (AFC) gate to pay for their journey. We look forward to extending our efficient payments collection services to the Mumbai Metro passengers as we continue to build our digital infrastructure and create innovative online payment solutions.”

MMOPL spokesperson said, “Keeping customer centricity at the heart of our operations, Mumbai Metro One has pioneered many unique initiatives over the last 8 years. During this pandemic Mumbai Metro One has always promoted digital payments while supporting its initiative “Be responsible, Be Safe”. In our quest to promote digital payments and add more digital ticketing options, we are happy to present yet another distinctive technology solution to our commuters. We are confident that “scan and pay” payment will empower our commuters. 

The 11.4 km long Versova-Andheri-Ghatkopar corridor provides connectivity between Western and Eastern Mumbai. The corridor has reduced the traveling time of Mumbaikars from 90 minutes to 21 minutes. 

With over 50% market share among payment processors, Cashfree leads in bulk disbursals with its Cashfree Payments Payouts. SBI recently invested in Cashfree Payments, thus underscoring the company’s role in building a robust payments ecosystem. Cashfree works closely with all leading banks to build the core payments and banking infrastructure and integrate its products with major platforms, such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay.

Source: Business World

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