India’s digital payments ecosystem is gearing up to offer contactless payments for commuters as metro and local rail services reopen in phases across the country.
Top digital payment companies, payment gateways, device manufacturers and banks are seeking partnership opportunities to scale and testing new contactless technologies to offer such services and gain share in the massive public transit market.
Industry sources said leading Unified Payments Interface (UPI) applications such as Paytm, PhonePe and Google Pay are ramping up the deployment of QR codes at ticketing counters, and working on upgrades to enhance the digital experience for commuters who make daily smart card recharges or purchase tokens, both online and offline.
“We see a great opportunity in enabling commuters to conveniently select source and destination while buying a QR ticket on their Paytm app that can also be scanned at the entry and exit points of the metro stations,” said a Paytm spokesperson.
“We work with all major Metros – Delhi, Mumbai, Hyderabad, Bengaluru, Chennai and Jaipur,” the spokesperson added.