Mumbai Metro's Multipurpose Card Covers Transportation and Payments
Laura McQuarrie — March 24, 2015 — Lifestyle
Knowing that many people are on a mission to simplify what essentials they carry around with them on a daily basis, Mumbai Metro created a multipurpose card. People with an account at the State Bank of India now have the option to sign up for a debit card that also doubles as a way to pay fares for transportation.
This hybrid card works with automatic fare collection gates when tapped, granting passengers instant access to trains. With an auto-load feature, this simplifies the process of having to transfer money, since funds come from a checking account. Outside of its uses for transportation, this Mumbai Metro card also works like a regular debit card, allowing for purchases made at retail shops and cash withdrawals from ATM machines.
This hybrid card works with automatic fare collection gates when tapped, granting passengers instant access to trains. With an auto-load feature, this simplifies the process of having to transfer money, since funds come from a checking account. Outside of its uses for transportation, this Mumbai Metro card also works like a regular debit card, allowing for purchases made at retail shops and cash withdrawals from ATM machines.
Trend Themes
1. Multipurpose Metro Cards - Creating hybrid cards that serve multiple functions, such as transportation and payment, simplifies everyday life for consumers.
2. Auto-load Feature - Implementing an auto-load feature on metro cards eliminates the need for manual fund transfers and provides a seamless experience for commuters.
3. Integration of Banking and Transportation - Integrating banking services with transportation systems opens up new possibilities for convenient and efficient payments on the go.
Industry Implications
1. Public Transportation - The public transportation industry can leverage multi-purpose metro cards to enhance the rider experience and attract more passengers.
2. Banking - Banks can collaborate with transportation providers to offer integrated cards that provide banking functionalities, creating value-added services.
3. Payment Technology - The payment technology industry can explore partnerships with transportation companies to develop innovative solutions that combine fare collection and retail payments.
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