YES BANK in partnership with Chalo announced the launch of a co-branded contactless, YES BANK powered Chalo travel card in Mangalore and Udupi, enabling users to load money on the card to make ‘tap to pay’ payments across buses. This partnership is in line with YES BANK’s commitment to support citizens in navigating the complexities around COVID-19 and the subsequent lockdown which has had a significant impact on daily lives. In addition, as part of its commitment to ensure safer buses, Chalo will offer commuters the first 10,000 cards free, at its own expense, along with a full-recharge offer in Mangalore and Udupi.
As the State looks at gradually reopening services, a contactless travel card will eliminate the need for handling cash and paper tickets for commuters, thereby making buses safer for passengers. Through this launch, approximately 4.5 lakh daily city bus commuters will be benefited.
Key features of the YES BANK powered Chalo Card:
- Contactless, eliminates cash transactions for the safety of passengers
- Fast and secure payment authentication to cater to high peak passenger loads
- Ability to service lakhs of micro payments daily
- Works offline, does not require cellular data network
Key Benefits:
- NFC technology with state-of-the-art security for a seamless ‘tap to pay’ experience
- Can be purchased and recharged from any bus conductor or at designated Chalo Card counters
- Mobile number verified OTP and self-declaration of name during purchase; full KYC to be done within 24 months
- Flexible recharges from as little as Rs. 10, up to a maximum balance of Rs. 10,000, in multiples of Rs. 10
Speaking on the launch, Ritesh Pai, Chief Digital Officer, YES BANK, said, “Mobility is a key aspect of public life and by working with partners such as Chalo, YES BANK is pleased to contribute to the resumption of safe transit services through this contactless and cashless payment solution. As the country gradually resumes normalcy, we are committed to support our fellow citizens through safe and secure digital solutions.”
Mohit Dubey, CEO, Chalo, said “We are delighted to ink this partnership. YES BANK is one of the leading digital payments facilitator in India and Chalo is India’s #1 solution provider for city bus travel. Together, we now offer one of India’s strongest travel card products that not only brings the world’s best payments experience to Indian bus passengers, but is an important step towards eventually having cashless buses in India.”
The card has been designed keeping in mind the ease of making digital payments in public transports. All that the passenger has to do is simply tap the card on the conductor’s ticketing machine to buy their ticket instantly. The Card substantially improves the travel experience by speeding up ticketing, increasing digital transactions and lowering the cash handling burden on conductors and bus operators. By promoting cashless buses and using innovative solutions to make travel safer for commuters, YES BANK and Chalo are striving to enable cities to return to normalcy, and restore livelihoods, while at the same time endeavoring to do it safely.
About Chalo
Chalo is a technology-driven transport solutions company that aims to make travel better for everyone. Its comprehensive suite of solutions for bus operators is driving improved customer experience and optimizing city bus operations. Chalo live tracks 10,000 buses across 23 cities giving real-time updates on the buses through its Chalo App. Chalo also manages more than 2,000 buses across 12 cities and works closely with the city and state governments and bus operators to improve bus operations.
About YES BANK
YES BANK, is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
