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| Reeju Datta, Co-Founder, Cashfree Payments |
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.
About Cashfree Payments
Cashfree Payments is a leading payment and API banking solutions company. It provides full-stack payments solutions enabling businesses in India to collect payments and make payouts via all available methods with simple integration. Cashfree Payments’ offerings include an advanced and easy way to integrate payment gateways, a split payment solution for marketplaces, bank account verification API and Auto Collect -- a virtual account solution to match inbound payments to customers. Founded by IIIT Hyderabad alumnus Akash Sinha and IIT Kharagpur graduate Reeju Datta, www.cashfree.com is among the leading payment service providers in India processing transactions worth USD 20 Billion annually. It has leveraged technology to lead payment disbursals in India with more than 50% market share among payment processors. Cashfree Payments enables more than 1,00,000 businesses with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty and rewards. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada and UAE. Cashfree Payments is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI) and was incubated by PayPal.About Mumbai Metro One Private Limited:
Mumbai Metro One Private Limited (MMOPL) is a Special Purpose Vehicle (SPV) created to develop, implement and operate Mumbai’s first Metro Line, on a public-private partnership (PPP) model. It is a consortium formed by Reliance Infrastructure Limited and MMRDA with 74% and 26% stake respectively.The 11.4 km long Versova-Andheri-Ghatkopar corridor that provides connectivity between Western and Eastern Mumbai was awarded to MMOPL for the Concession period of 35 years. The corridor has 12 stations and has reduced the traveling time of Mumbaikars from 90 minutes to 21 minutes.
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