Invites proposals to select acquirer bank; royalty to cushion operational costs Bangalore Metro Rail Corporation Ltd. (BMRCL) has begun
preparations for the commercial launch of Namma Metro services on Reach
3, 3A and 3B (Hessarghatta-Peenya-Yeshwanthpur-Swastik) by inviting
scheduled banks to be the merchant acquirer bank for its automated fare
collection (AFC) system.
BMRCL has promised to open this stretch for passenger traffic by December this year.
While
work on laying tracks, providing signalling and telecommunication
facilities, and civil work at 13 stations are under way, the corporation
has started the process on the financial front. The bank so selected
will have the sole rights on transactions of different kinds of tickets
and, in turn, will have to pay royalty to BMRCL.
The
acquirer bank will provide card readers at the automated fare
collection (AFC) centres of the metro stations. The AFC contractor will
integrate these machines with the ticketing office for the sale of smart
cards and their top-ups. To credit the transactions to BMRCL, the
acquirer bank will settle the account on a daily basis.
While
BMRCL will pay fixed charges and also merchant service charges to State
Bank of India based on the number of transactions, the acquirer bank
will have to pay royalty to BMRCL as the corporation has agreed to
associate itself with the bank. The corporation may consider extending
the contract with the select bank to all other reaches of Namma Metro
network on mutually agreeable terms. In such an event, fixed and service
charges payable by BMRCL and royalty payable by the bank will be
decided on pro-rata basis, BMRCL said.
BMRCL had
selected State Bank of India as the acquirer bank for Reach 1. Besides
being the acquirer bank, SBI had launched combo cards — travel-cum-ATM
cards for its customers. The corporation has now invited request for
proposals from banks for the new reach and the last date to submit bids
is February 29.
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