A file photo of cinema-goers watching a movie at a PVR Multiplex in Mumbai
Multiplex chain PVR has added the Unified Payment Interface (UPI) feature across its 122 locations in the country. UPI is a payment system that allows multiple bank accounts (of participating banks), several banking services features like fund transfer (P2P), and merchant payments in a single mobile application.
The move from PVR comes as part of its attempt to promote digital transactions. The initiative is partly also fuelled by the demonetisation drive that the government is currently undertaking.
"People are still a bit sceptical about swiping their cards at establishments. The UPI feature allows patrons to transact money at PVR properties through a single app, irrespective of with whom they bank. While this works only for smartphones, we plan to implement a similar feature which will make cashless transactions via feature phones also viable," says Kamal Gianchandani, CEO, PVR Pictures. He adds that while the exhibition company planned to introduce this feature anyway, the roll-out of demonetisation has definitely quickened implementation of UPI.
The cinema house has seen a sharp increase in online/cashless transactions for ticketing and F&B purchase. Before monetisation, cash transactions contributed to around 45 per cent of the revenue. This has come down to almost 20 per cent post demonetisation, as online and card transactions picked up.