India's largest mobile payment and commerce platform Paytm has enabled cashless payments in what was so far a cash-only sector, unreserved bus tickets. Ticket counter staff can now bid goodbye to the hassles of dealing with loose change and the delays associated with it.
Travelers can now pay at inter-city bus counters with their Paytm Wallets. This is a revolutionary step as the sector has been unorganized and dominated by cash even after the advent of digital payments through credit and debit cards.
With this step, Paytm has opened up the gates of convenience and commuting ease. The ticket booking process is faster, more efficient and hassle-free now.
Paytm users can simply scan the Paytm QR Code and send the exact amount to book their bus tickets. The entire process is now digitized with records of transactions in a jiffy at zero transaction fee.
"With this use case, Paytm has achieved a breakthrough in bringing digital payments to the unreserved bus ticketing sector. This is only a sneak peek into how the convenience of Mobile Wallets can revolutionize the transport sector.
Going forward, we will enable the Paytm Wallet at various state owned as well as private operators to drive our vision of making payments cashless across India," said Vice President Paytm, Kiran Vasireddy.
Currently bus counters operated by state transport undertakings (STUs) like Uttarakhand and Rajasthan accept Paytm. The company is actively working to forge partnerships with other state-owned and private bus operators and bring them on-board.
This move is an important step in the vision of making cashless transactions a way of life across all consumer segments and demographic profiles in India.