ePaisa point of sale has partnered with MEP Infrastructure to enable cashless payments at Mumbai’s busiest toll plazas. Commuters across the city can now pay their toll charges instantly by simply scanning the ePaisa QR code placed at the MEP toll payment, counters using any of the UPI payment apps. The ePaisa QR code payment will help in immediate debit from the commuter account and credit into MEP Infra’s account. This contact-less process rules out the hassle of carrying cash and cards for the toll fee payment.
Through this initiative MEP Infrastructure and ePaisa, both are aiming to cover a maximum number of vehicles who deal with only cash transactions. Thus helping the transport sector’s transition into digitalisation. Both companies also want to promote faster payment through digital mode so that vehicles can move through seamlessly.
Commenting on this, ePaisa Chief Business Officer PravinKumar Bhandari said, “In the last few years we have witnessed UPI payment option gained great success in India and as used by all age groups. We feel the QR Code payment option can curb the cash transaction in this transport management vertical.”
Data shows that digital transactions are on the rise, but the pace is a bit slow especially compared to China. As per iResearch, China’s third-party mobile payment transactions rose 22.6 per cent in Q2 2019. Whereas some 72 per cent of India’s consumer transactions take place in cash, double the rate in China, according to a March report by Credit Suisse Group AG.
Adding to this, Shahin Kunnath, COO of ePaisa, explained, “Even though China is ruling the payment market, the Indian Government is giving equal opportunities to both small and large players unlike China, which is a booster for immediate growth in the payment sector.”
The ePaisa QR code is available at the six popular toll plazas of the city namely LBS Toll, Vashi Toll, Airoli Toll, Dahisar Toll, Mulund Toll, and Rajiv Gandhi Worli Sea link in phases.
