PVR Cinemas: The India’s most popular film entertainment company PVR Cinemas has now launched a latest option for its payment at its Multiplexes. It has now launched the Unified Payment Interface(UPI) for all its 122 PVR’s across the Country. This option will allow the users to book their tickets and make online payments through the UPI option in addition to net banking, wallets, Credit or Debit cards. It provides a Virtual Payment Address (VPA), through which users can send and receive money on a two-factor authentication. However, this UPI is a unique payment solution which has built to empower the customers to initiate the Payment requests through their smartphones. This application allows multiple bank accounts, several banking features such as Fund transfer and Merchant Payments in a Single mobile application.
PVR Cinemas Launched UPI Payment for transactions at its Multiplexes
According to the reports, PVR Cinemas CEO Kamal Gianchandani said People are still a bit sceptical about swiping their cards at establishments. The Latest UPI feature allows the patrons to transact money at PVR properties through a single app, irrespective of with whom the customers bank with. While this works only for smartphones, we plan to implement a similar feature which will make cashless transactions via feature phones also viable. This is currently unavailable to the Web.
PVR Cinemas also added that anyone with a smartphone and a bank account will be able to benefit from UPI for transacting money online. This is a major change for online commerce as UPI will allow us to reduce transaction costs and create a faster checkout experience. However, financial experts believe UPI will boost the online payments industry and is a major step towards building a cashless society.
PVR Cinemas has seen a sharp increase in online/cashless transactions for ticketing and F&B purchase. After the Demonetisation move, the revenue of the PVR has come down to almost 20 percent. But as of now it has again got up and contributed to around 45 percent of the revenue with the online transactions.
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