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Arman, other traders revive businesses slowed down by note ban with e-wallet

Arman’s meat shop in Abul Fazal Enclave is a popular with the shop being overcrowded most of the days. However, the crowd started thinning since November 8 when Prime Minister Modi in a televised address to the nation announced demonetization.

“We lost business in initial days. People had no money to buy chicken and fish from my shop. Then I started encouraging people to pay by Paytm and it has worked since then. Now my business hit by note ban is picking up slowly,” Arman told OKHLATIMES.COM.

When asked how many people pay by Paytm, he said: “Now after the note ban, about 50 per cent of the people pay by e-wallet.”

Paytm and other e-wallets are getting popular in Okhla’s Jamia Nagar, according to shopkeeper and residents. A regular at shops told OKHLATIMES.COM that many shopkeepers have placed e-wallets and other sources of e-payment to tide over cash crunch.

An eatery worker in AFE said from tomorrow they too are planning to place e-wallet encouraging visitors not to pay by cash. However, he said business has slowed down since the note ban came into existence more than a month ago.
“Now people prefer buying only essential commodities. They are playing safe,” said a vegetable vendor.

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