How digital payment assisted ITPO to overcome the sales decline?

In terms of services, it includes, tie-up with various banks to provide sufficient number of swipe machines (POS) to exhibitors to facilitate the payment transactions by visitors through debit/credit cards.
Operation

After the recent demonetisation, the 36th India International Trade Fair (ITPO) has experienced a drop in the sales of tickets. However, they have taken various measures to facilitate cashless transactions for participants and exhibitors.

The ticket price for adults visiting on working days will now be Rs 50, which earlier was Rs 60, while entry fee for children aged below 12 is free against Rs 40 earlier. "India Trade Promotion Organisation announces the reduction in India International Trade Fair 2016 entry ticket charges and free entry for children up to 12 years for all days starting from November 19 to 27," said ITPO.

ITPO further added, “This stands necessary to facilitate adequate footfall and thereby enhance trading activity during IITF 2016, ITPO’s basic mandate being trade promotion.”

In terms of services, it includes, tie-up with various banks to provide sufficient number of swipe machines (POS) to exhibitors to facilitate the payment transactions by visitors through debit/credit cards.

ITPO has also established 15 ATMs in the fair and requested the banks to provide the traders with swiping machines. But, long queues outside ATMs has made purchase very difficult for the visitors and many traders in the fair still do not have swiping machines.

Paytm and Freecharge are also making arrangements to facilitate cashless transactions at IITF, Pragati Maidan through digital wallets. They have introduced transparent online space booking, online ticket booking for all days.

There will be free entry for senior citizens (60 years & above) and differently-abled people on presentation of valid age/physical handicapped document with photo thereon from all gates from November 19 to 27, 2016. Attendant to senior citizens and differently-abled have to purchase ticket as per the rate applicable on the particular day.

Even with use of electronic payment systems, Indian Trade Promotion Organisation (ITPO) is accepting old currency notes. The traders also are accepting Rs 500, Rs 1,000, Rs 2,000 -- all notes, but the only speculation is that people have to buy goods for the full amount of the old currency as they cannot give change.

Demand for point of sale (POS) machines has also gone up as the traders at the fair are accepting card payments. An employee said that on the first day of the trade fair itself; orders for about 60 machines have been placed. The traders are filling the form for a POS machine as some of them who are not accepting can opt for card payments.

This year, IITF and its ‘Digital India’ theme will project its deep commitment to fulfill the vision of the Hon’ble Prime Minister of India. The theme assumes special significance for highlighting country’s persistent efforts to alleviate poverty through meaningful convergence of digital technologies and e-governance.

 

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