Gurgaon auto dealers, mechanics turn to e-wallets
The auto spare parts market in Sector 12 of Gurgaon, which is highly unorganised and worked primarily on cash, is gradually switching to e-payments. Some shops are also accepting bank cards.gurgaon Updated: Nov 21, 2016 23:50 IST
The auto spare parts market in Sector 12 of Gurgaon, which is highly unorganised and worked primarily on cash, is gradually switching to e-payments. Some shops are also accepting bank cards.
The cash crunch has forced auto mechanics to adopt digital wallets. At a time when customers are not willing to part with cash, shopkeepers and traders said that accepting change has helped revive business from the initial 70%-80% dip following the demonetisation on November 8.
“There is no cash in the market and unless we started accepting money in digital form, the business would have stopped. Around 60% of the auto market is now accepting payment through cards or Paytm. This has helped increase business,” Jai Yadav, president of the auto market union, said.
Union members said that around 50% of the business has returned.
Many shopkeepers also waived off the 2% surcharge. A number of them are helping mechanics in their employ by accepting money on their behalf.
“I have put ₹8,000 in my friend’s account as I neither have a card machine nor a Paytm account,” Vinod Kumar, a mechanic, who owns Soni Bike Point in Laxmi Garden of Old Gurgaon, said.
Impressed by the ease of online payments, Kumar said he decided to get a digital wallet at the earliest and is also seeking help to install the Paytm app on his phone.
Deepak, who repairs motorcycles, said that his employer is helping him out with digital transactions.
While traders are accepting online payments, their major worry is getting supplies from Delhi, where only cash is accepted.
“We need to see how the situation develops. Although people have started purchasing spare parts through online payment, this has to become a norm. There is not more than a 3%-4% rise in prices,” Rajesh Kumar, owner of Ashish Bike Centre, said.
Kumar has been using Paytm for a while, and he has helped many in the market use this facility after November 8. The market might be moving towards e-payment mode but traders want currency situation to improve as most believe that cash will be the main mode of transactions.
First Published: Nov 21, 2016 23:50 IST