*MAHARASHTRA METRO RAIL CORPORATION LIMITED*
(Nagpur Metro Rail Project)
NAGPUR :-• Currently, Indian households make 35 per cent of their transactions digitally, with pay-to-merchant (P2M) accounting for a significant proportion of transactions. Customers use digital payment methods in 80 per cent of grocery, food delivery, and travel transactions.
• UPI accounts for 84 per cent of the total digital payments volume as of Financial Year 2023. Digital transactions by households to cross 50% by FY26.
• With a population of 140 crore, country is poised to become a global leader in the digital payments, with households increasing non-cash transactions by as much as 50 per cent, and 85 per cent of businesses in country being digitally enabled by FY26.
• India recorded 89.5 million digital transactions in the year 2022. As per the data, India accounted for 46 per cent of the global real-time payments in 2022.
While the digital payment at the national level is picking up fast, Maha Metro Nagpur has also a major role to play. And it’s well explained from the fact that of the total Fare Box Revenue generated every day, about 50 % comes through digital payments through various modes like Maha Card, UPI apparatus and through the Maha Metro Nagpur App.
On average about 34 % payment is through Maha Card every day, while Unified Payments Interface or UPI and Maha Metro App together account for over 12 % of the total Fare Box Revenue. Thus of the total Fare Box Revenue generated on any given day, the collective earnings through the various digital payment modes are more than 46 %.
*Maha Card: Time and Money Saver*
Nagpur Metro commuters can avail of 10 % discount on Fare Revenue while using Maha Card. Coupled with this, the fact that Card users have to just tap the Card and pass through Automatic Fare Collection (AFC) system without waiting in queue at the ticket counter, fuelled extensive use of Maha Card. These two facts have, time and again, underlined the role of Maha Card as of time and money saver.
Moreover, with the increasing awareness about digital payment, the figure is sure to go up and is certain to cross the coveted 50 % mark in the near future. In fact realising the need for promoting digital payment at all levels at a very early stage, Maha Metro Nagpur, in association with State Bank of India (SBI) introduced Maha Card on 31st August 2019.
With cash transactions on the decline, the Metro commuters have shown their eagerness to move to digital payment. Maha Metro Nagpur hopes that this trend would continue and number of commuters using this mode of payment would certainly go up in the future.
