Hyderabad cosies up to cashless transactions

A few days after the State government announced its decision to implement cashless transactions, city-based business owners including SMEs, retail vegetable shops and farmers of Rhythu Bazaar are adapting digital wallets as their payment methods.

“Upto 40 per cent of my customers are swiping cards to purchase vegetables,” says K Anil, a show owner in Vikrampuri.

“We started accepting debit and credit cards, also Paytm facility owing to the severe cash crunch post the demonetisation announcement.

It was a tough time for a few weeks in order to arrange change for the customers who mark a bill of around Rs 300 and came with the new Rs 2,000 note. So, I started to equip the smart paying methodologies,” says Anil.

The vegetable vendor also said that surprisingly upto 15- 20 per cent of his customers are paying through Paytm.

Sri Devi, a customer at the vegetables shop said making payment through debit or credit cards has become necessary. “I purchased vegetables of Rs 60 and made my payment through credit card,” she informed.

Another customer M Amit said, “I purchased vegetables of Rs 150 and made payment through Paytm. This digital method seems easy, rather than asking for change of Rs 2,000.”