Delhi Metro may introduce new features to its Payment System, as RBI issues Mass Transit Wallet (PPI)

Delhi Metro may introduce new features to its Payment System, as RBI issues Mass Transit Wallet (PPI)

NEW DELHI: Delhi Metro Rail Corporation (DMRC) may soon introduce some serious upgrades to the existing payment system used by the public transport corporation that maintains Delhi Metro. These new features are the result of new licenses issued by Reserve Bank of India.

RBI issued a license to DMRC to issue mass transit prepaid payment instrument (PPI). This comes right after RBI issued wallet license to the corporation that will enable it to run a full e-wallet system.

One interesting thing to note is that RBI issued the license back last month with validity up to 31 March 2022. DMRC may be working on laying out the groundwork for the new system in the meantime.

According to the report, the new prepaid instruments issued by the DMRC under the new license will allow the users to load Rs 2,000 in their wallets with a minimum validity for up to six months from the date of the recharge.

Despite all the good that this new system is trying to achieve, some things like the inability to cash-out or refund the wallets works against the commuters. This comes weeks after the decision that Delhi Metro commuters can no longer get refund on its Smartcards.

However, the most interesting usage scenario highlighted by the company comprises of using the Delhi Metro e-wallet to buy food at the restaurants or stalls in the metro stations. One thing to note is that there is no official statement by DMRC or Government of Delhi about the new system at the time of writing.

Source:RailNews