GOING CASHLESS BEHIND THE WHEELS DIGITAL OPTIONS FOR SRTO

Abstract

—The Small Road Transport Operators (SRTO) are major players in the logistic industry
contributing to the economic development of our country. Their limited resource is a constraint and always
work on “cash basis” in the market. In their trips they face difficulties in terms of losing cash due to theft or
insufficiency of cash, which puts a limitation on their capability to grow and serve better. The studied
company in this study has paved the way with active the participation from the leading Oil marketing
companies of the country and provided a much-needed digital platform to take care of majority of their
expenses like which accounts for approximately 60% of their total expenses during onward journey. The
SRTOs do not require any physical card and yet they can avail refuelling facility from any of the panelled
pumps without any hassle leading to a real category of “Wallet On wheels”. The main objective of the study
was to understand the requirements, challenges of SRTOs and studying different models of cash or liquidity
availability for the SRTOs in running their day to day business and suggesting a viable & low-cost method
of availing financial support for the smooth running of their business. The study is based on various
Literature available and primary data available from one of the largest NBFC in India