Mumbai Metro One offers instant cashback
to store value pass holders
Mumbai, Metro Rail News: Since its launch in June 2014, Mumbai Metro One has been following a base fare of Rs. 10 | 20 | 30 | 40. Apart from the base fare, Mumbai Metro offers 3 additional ticketing products: Store Value Pass (SVP), Return Journey Token (RJT) and Monthly Trip Pass (MTP), which have been designed keeping commuter needs in mind. The product pricing has been done in a manner to popularise Metro, promote regularity of usage and consequently increase ridership.
Of all the ticketing
products, SVP has become the most preferred product by commuters because of the
following reasons:
- Most
flexible product; travel from any station to any station
- Balance
available is refundable
- No
need to go for ticketing daily
- Can
be recharged across multiple platforms
Currently, around 1/3rd
of Mumbai Metro commuters travel using SVP. Moreover, SVP has emerged as the
highest growing product registering 51% growth YoY. To strike a win-win
proposition, Mumbai Metro One wishes to go with popular commuters’ choice and
encourage more and more commuters to take benefit of SVP.
Mumbai Metro intends to introduce
an Instant Cashback on SVP w.e.f. 01.02.2019 and restructure the existing travel
based incentive. This is to make SVP even more popular and encourage commuters
to recharge with higher value. Commuters will now enjoy Cashback ranging from
2% to 10% for recharge ranging from Rs 200 to Rs 600 and above respectively. Of
the many firsts to its credit, Mumbai Metro is the first Metro in the country
to introduce Instant Cashback for the benefit of its commuters.
Earlier, SVP commuters enjoyed incentive piecemeal ranging from Rs.0 to Rs.5 as they commuted. Now, they will get Instant Cashback against recharge. Hence, it offers better time value of money. The new Cashback on SVP is aimed at encouraging regular commuters to migrate from daily queuing at ticketing counters to SVP. Use of card products on AFC gates improves Metro efficiency as card commuters take 40% lesser time to pass through AFC gates.
Benefits of new Cashback
scheme:
- Earlier
commuters who travelled shorter distances (0-2 km slab) didn’t get any incentive.
Now all the commuters will be able to avail this scheme.
- Commuters
will be able to easily identify amount of Cashback earned while travelling by
metro.
- The
Cashback offered by metro is equal to travel balance, which can be fully
utilized while travelling.
- The
Cashback will have long validity, which can be renewed by 6 months (180 days)
with every recharge.
Mumbai Metro will offer one time 10% flat Cash-Back
on entire remaining balance of 31st Jan’ 2019 (end of business day)
so as to take care of incentive that a customer would have got while travelling with current balance.
With the base fare of Rs
10, 20, 30 and 40 for Single Journey Token remaining unchanged and introduction
of Cashback on SVP, the price of MTP has been marginally increased by Rs.25 to
Rs.50 for 45 trips, which effectively translates to a marginal increase from 55
paise to Rs 1.11 per trip. Despite this increase, MTP will still remain to be
most economical product offering 14% to 24% incentive.
An MMOPL spokesperson
said, “Over the last 4.5 years, Mumbai Metro’s loyal commuters have embraced
metro culture. We believe it’s time our regular commuters move up the value
chain. We are pleased to introduce an Instant Cashback on recharge of Store
Value Pass to further popularize the product. We want commuters to use smart card
and help us increase efficiency while ticketing and entry/exit.”