Kochi Metro to trial digital rupee for contactless parking

Passengers using rapid transit services operated by Kochi Metro in the Indian state of Kerala will soon be able to make contactless parking payments with the country’s central bank digital currency (CBDC) as part of a digital rupee pilot programme launched by the Reserve Bank of India (RBI).

Kochi Metro is the first metro network in India to begin accepting digital rupee payments and is launching the service with support from IDFC First Bank and digital parking solutions provider Anantham Online.

The RBI launched the first phase of its retail CBDC pilot in December after it revealed plans  in October 2022 to trial a prototype digital rupee.