Railways and UPI Lite – 1,00,00,000 UPI Lite Transactions per day - Let the Magic begun

  

Railways and UPI Lite – 1,00,00,000 UPI Lite Transactions per day - Let the Magic begun

          More than 2 crores passengers travel across 67,956 kms spread across 7,325 stations of our country.

          Let the Magic begun

Brief Introduction of UPI Lite: -

National Payments Corp. of India is testing a solution to allow Unified Payments Interface (UPI)-based digital pay without an internet connection. Dubbed UPI Lite, it is expected to be used in rural areas to allow for small digital payments under 200 rupees (about $2.68).

 

It will also allow phone users to make digital payments from their bank accounts. Two solutions are being tested, including a SIM overlay and a software-provisioned solution that leverages over-the-air (OTA) updates.

The RBI, on January 5, allowed digital payments up to Rs 200 to be made without internet connections.

 

Read more @ https://www.livemint.com/technology/govt-testing-upi-lite-to-allow-payments-without-internet-11642965414132.html

Railways and UPI Lite – Let the Magic begun

          The primary requirement for a UPI Lite transaction is a phone and a UPI Lite account with adequate balance.

          The exact terminology of UPI Lite Account will be known once the operational guidelines are released.

          As per the extant guidelines for Offline transactions, only proximate transactions are allowed.

          Let only 50% of the passengers do a UPI Lite transaction in the time frame between the originating railway station and destination railway station.

          The time frame can range from 2 hours to 83 hours, yes plenty of time for passengers to do at least one UPI Lite

 

Q: - What are the prerequisites for the magic to begun

Ans: - Just a phone, UPI Lite account and adequate balance in the UPI Lite account.

 

Q: - What if the merchants do not accept UPI Lite as a payment mode?

Ans: - A remote possibility, as merchants will be interested in the sale of their goods.

Q: - Is it mandatory for a merchant too also have a UPI Lite account to receive the funds.

Ans: - No, it is not mandatory, any merchant accepting payments through UPI QR Code will be able to accept via UPI Lite too. However, there will be more clarity once the operational details are released.

Q: - Will it be mandatory for merchants to have net connectivity to accept UPI Lite payments.

Ans: - No, however let us wait for the operational guidelines.

Q: - Under the offline transactions’ guidelines, the sender may receive delayed transactions SMSs. In case the merchant disputes non-receipt of funds, how the same can be resolved.

Ans: - There may be teething problems at the beginning, but as trust builds in the system, such disputes may be few.

Q: - Can railway tickets be purchased via UPI Lite.

Ans: - Not in the first phase, however let us wait for the operational guidelines.

Q: - Can the parking charges at railway stations be paid via UPI Lite

Ans: - Ideally, yes, however let us wait for the operational guidelines.

Q: - Can UPI Lite be used at vending machines

Ans: - Ideally, yes, however let us wait for the operational guidelines

Q: - Please provide possible list of transactions possible with UPI Lite during a railway journey

Ans: - A) Water Bottle B) Varieties of food items not limited to tea, coffee, cool drinks, snacks, lunch items, dinner items, sweets, khara etc) Newspapers D) Magazines E) Key Chains F) Medicines

Q: - What one factor will boost UPI Lite transactions in Indian Railways?

Ans: - Lucky dip of say Rs100/- to 1 lac train passengers every day

Q: - Is 1 crore in daily prize money, not a high amount?

Ans: - Well, there are multiple benefits and cost savings associated with digital transactions.  

Q: - When is the magic expected to begin?

Ans: - The UPI Lite magic may begin in another 100 days.

The UPI Lite magic in Indian railways – well I am keeping my fingers crossed.

 

Disclaimer: These are my personal views only. The bottom line is Safe ePayments.

 

Link to my Blog Post @ https://innovationinbanking.blogspot.com/2022/01/bnpl-on-upi-lite-yes-why-not.html

 

Source: INDIAN RAILWAYS ANNUAL REPORT AND ACCOUNTS 2019-20

Catering Services

Indian Railways provide catering services to the travelling passengers through Pantry Cars (in 419 pairs of trains), Train Side Vending (TSV) on 946 trains, E-catering available on 358 stations with an average of 22,203 meals per day, and Static Units at Stations.

 

Static Catering Units include 674 Major Static Units (Food Plaza, Fast Food Units, Jan Ahaar, Cell Kitchens, Escalator at Jaipur Railway Station, NWR Base Kitchen, Refreshment Rooms and Automatic Vending Machines) and 8,824 Minor Static Units ( all stall, trolleys) on Indian Railways.

 

In addition, there are 1,804 Water Vending Machines, 4,682 Multi-Purpose Stalls, 896 Bookstalls, 71 Miscellaneous/Curio Stalls, 04 exclusive Chemist Stalls and 02 Bookstalls cum Chemist Corners operational at stations to ensure availability of items of travelling needs of passengers.

 

Number of Passenger carried per day   22.15 Million i.e 2,21,50,000

 

Number of Stations - 7,325