E-Wallets Much In Vogue Among Street Vendors Of Smart City
**Bhubaneswar: ** Post demonetisation, when nobody has any ‘chillar’(change money) to spare, this small time vendor of the smart city has moved with the times, and is accepting the cashless mode of payment, that is, Paytm.
Shibashankar Patra, who sells ‘dahi bara aludam’ (street food) on the roadside outside the Ekamra Haat in the heart of the city has linked himself to payment option through Paytm. The sight of ‘Paytm Accepted Here’ on his trolley make people to stop and stare, and try their luck with their e-money.
“The distributors of Paytm had made it very obvious to me the aftershocks of demonetisation. I readily grabbed the opportunity to go in for it. Even though business has suffered following the demonetisation, we are receiving money through e-wallets. It has been a great help to us at the time of cash crunch,” says the smart vendor.
Taking advantage of the cash crunch, the mobile wallet companies are visiting the shops and persuading them to install their apps for better money transactions.
Meanwhile, the city people are facing a new problem. With ATMs and banks now giving away new Rs 2,000 notes, people are witnessing a clamour for change as the banks are dispensing limited number of fresh Rs 500 notes.
At this crucial time of cash crunch, when people have money in their bank accounts, but do not have time or patience to stand in long queues for exchanging the demonetised notes, or withdraw their own money, or the withdrawn money is not enough to meet with their expenses, then the e-wallets like Paytm, Mobikwik, RechargeStore, Freecharge, etc comes into handy.
The smart citizens of the smart city are all set for the cashless economy, with some of the chai-wallahs, roadside vendors, bus bookings, ticket counters at cinema halls, and even auto-rickshaw wallahs are moving in the direction by linking themselves to the mode of payment through Paytm.
“I was worried after the central government announced demonetisation of Rs 500 and Rs 1,000 notes that led to cash crunch of small notes. Then, I installed a Paytm mobile app on my phone and asked my customers to pay through my mobile wallet,” said Raju, a tea-stall owner of the smart city.
The customers of the city are the most benefitted through this digital wallet system. They don’t have to buy unnecessary items just because there is no change money with the shopkeeper.
“Paytm is very handy to recharge our mobile phones. We just have to transfer the particular amount to the shopkeepers e-wallet, and our job is done. There is no problem regarding the change money anymore,” informed Sanatan Nayak, Resident
“I purchased grocery items of Rs 450 from a shopkeeper and handed him a Rs 2,000 note. But he refused to give back the balance change, saying he has limited Rs 100 notes. So, in such cases, the mode of payment through mobile wallet is best option,” said Ranjan Sahu, a resident.
The latest wallet of the smart citizens, digital wallet is an electronic device to make electronic commerce transactions. This can include purchasing items on-line with a computer or using a smartphone to purchase something at a store. An individual’s bank account can also be linked to the digital wallet.