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.
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
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