10 Delhi Metro station to go cashless: Is it a good news?

Delhi Metro

New Delhi, December 24: In a bid to support Centre’s demonetisation drive to go cashless, 10 stations of Delhi Metro will go “cashless” from January 1.

Come January and commuters would be able to recharge smart cards and buy tokens using digital platforms only such as mobile wallet Paytm. However DMRC said at least one counter will have the option of cash initially.

“The cashless transactions for token and smart card purchase or top up at these stations can be done through Paytm by using QR-code, which will be displayed at token counters or customer care centre of these stations,” said DMRC chief Mangu Singh.

The ten stations to go cashless include Rohini East and Rohini West on Red Line; MG Road Station on Yellow Line; Mayur Vihar Phase-I, Nirman Vihar, Tilak Nagar, Janakpuri West, and Noida Sector-15 on Blue Line; and Nehru Place and Kailash Colony on Violet Line.

10 Delhi Metro station to go cashless: Is it a good news?

This means passengers at 10 metro stations in Delhi will have to use their Paytm e-wallets and not cash. Besides taking away a fundamental right of choice in a democracy, this also creates a monopolistic situation for Mobile wallets like Paytm, which is a private company. How can the government rely on one eWallet. There should be multiple e-wallets options on offer.

The option would not be convenient for the foreigners at these stations.

“These stations have 70% or more smart card users as a result of which cash transactions here are moderate in comparison to other stations and have adequate mobile connectivity as well,” informed DMRC citing that refunds will be done through Paytm accounts instead of cash and users will receive the refunded amount within four days in their e-wallet. In the current situation, digital is a supplementary option.

Rs 100 in hand as cash, is never equal to Rs 100 in an online wallet. Transaction cost of the service provider is something we cannot ignore. It erodes the value of the amount and the introductory discounts or waive off on transaction cost is going to exist sooner or later.

Wefornews Bureau

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