● Allows passengers to automatically pay at Automatic Fare Collection (AFC) gates of Delhi Metro stations Delhi, March 25, 2021 - Bengaluru based payments and banking technology company, Cashfree, has enabled standing instructions on credit cards for Gurugram based startup AutoPe Payment Solutions Pvt. Ltd. AutoPe has a tie-up with Delhi Metro Rail Corporation enabling the auto top-up feature on DMRC smart cards for a safer commute. Called Zero Human Intervention Cards, they allow passengers to automatically pay at the Automatic Fare Collection (AFC) gates of Delhi Metro stations.
The card allows auto top-up functionality wherein it gets recharged instantly as and when the value of the card falls below ₹100. An automatic recharge of ₹200 gets initiated on the card at the AFC gate itself and the amount gets auto-debited from the customer’s linked bank account or credit card.
Cashfree’s solutions used for this collaboration are: ● Recurring Payments - Recurring payments in India can be enabled using standing instruction on a card or internet banking. Users will be required to register by downloading the AutoPe app from the app store. They can also register on AutoPe’s website and link their bank account or card to the Metro smart card as a one-time exercise. Once the user’s account is linked and verified, the auto top-up feature gets activated ● Payment Gateway - Cashfree’s payment gateway is integrated with AutoPe’s app and website for payment collections Cashfree’s CEO and Co-founder, Akash Sinha said, “The events of 2020 have revamped our spending and travelling habits. In order to make commuting frictionless and help passengers maintain social distancing, AutoPe offers completely automated contactless payment solutions for Delhi Metro commuters in partnership with Cashfree. At Cashfree, we are on the constant lookout to solve real pain points of end-users and offer them customized solutions through our partners. This move not only reduces contact points during travel but also ensures that users can avoid unnecessary delays caused by a low balance on their cards with the automatic top-up solution offered by AutoPe. Currently, there are 15 million smart card users in Delhi and that poses a significant opportunity for us to get them to avail this facility by underlining the importance of cashless transactions.” Commenting on this partnership, Pankaj Gambhir, CEO of AutoPe said, “We are delighted to partner with Cashfree to offer Delhi Metro commuters a contactless way of making payments through their AutoPe Delhi Metro Smart Cards. The pandemic in 2020 has made a lot of us rethink the way that we commute and for a large section of the population that relies on public transport, the metro rail is a lifeline. At AutoPe, we understand the value of a convenient and contactless payment option that allows commuters to easily recharge their Metro Smart Cards on the move. We are also planning on offering our Zero Human Intervention Cards in other cities such as Mumbai and Hyderabad in the near future.” AutoPe cards, in association with the Delhi Metro Rail Corporation (DMRC), were circulated from September 2020 once the Delhi Metro reopened post the pandemic induced shutdown of the metro rails. Since September, contactless charging of the AutoPe cards has been enabled through Cashfree. AutoPe has issued 18,000 such cards and seen an 8-10% month-on-month growth in transactions and a 20% rise in auto recharges since the launch of the AutoPe DMRC cards.
Prior to this partnership with AutoPe, Delhi Metro commuters were required to either stand in queues or electronically recharge their smart cards. In the case of online recharges, the users had to present their cards at the Add Value Machines (AVMs) for the payment to be validated. AutoPe’s seamless payment solution allows a hassle-free top-up and eliminates any layer of contact or interruption.
About Cashfree: Cashfree is a payments and banking technology company that enables businesses in India to collect and send money via all payment methods with a single integration. Founded by IIIT Hyderabad alumnus Akash Sinha and IIT Kharagpur graduate Reeju Datta, www.cashfree.com enables more than 50,000 businesses with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty, and rewards. Incubated by payments pioneer PayPal, Cashfree is backed by Apis Partners, Smilegate and Y Combinator.
About AutoPe: AutoPe Payment Solutions Pvt. Ltd. is a fintech with the sole vision of bridging the gap between a business and the ease of doing business through technology. Co-founded by Anurag Bajpai and Pankaj Gambhir with a team of hand-picked technocrats, experienced in open-source technologies, AutoPe specializes in building scalable technology solutions in the business domains of Payments & Microfinance.
AutoPe Payment Solutions Pvt Ltd has developed and optimised processes of payments that minimize dropouts and make the digital payment experiences seamless. This led them to offer their first consumer-facing digital tool, AutoPe – that takes the experience of hassle-free payments to the next level, by automating the entire process through mandates.