Inox Instapay Wallet

By Author: R. Pande
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Lockdowns are a thing of the past, COVID-19 is on the retreat and people are getting out, shopping, travelling, eating and watching movies. INOX Cinemas has thrown a bait to lure you into their multiplexes.
The multiplex chain INOX has launched a payment wallet called InstaPay. Consumers using this wallet can earn coupons and discounts while loading funds into the wallet and booking tickets through the mobile app, website or INOX ticket office.

The INOX InstaPay Wallet is an electronic wallet for buying tickets and food in the INOX cinemas. Consumers can activate, top up and top up their InstaPay wallet on the INOX website, app or at the INOX ticket office. The InstaPay wallet is activated as soon as you add an amount between Rs 100 and Rs 5,000 using debit or credit cards, online banking or via UPI transactions.

As a one-time introductory offer, customers who load money into the wallet will receive a voucher worth between 50 and 150 rupees. You can load the wallet with any denomination up to a maximum of Rs 5,000. The money in your INOX InstaPay wallet expires 365 days from the day of its activation. So ...
... if you have 5000 rupees unused in your wallet on day 366, you cannot use this amount to book the ticket.

Alok Tandon, CEO of INOX Leisure Limited, said his goal is to strengthen their bond through the use of a handy feature like a wallet. He adds that the move would help the company better understand consumer behavior and allow them to implement curated offers and experiences based on their consumption habits.

Booking tickets through the InstaPay wallet is a fast, contactless and rewarding experience for new users. Consumers will receive a coupon and a chance to win movie merchandise, invitations to special celebrity screenings and insider deals curated specifically for wallet users.

The InstaPay wallet allows consumers to deactivate the account once and the wallet balance will be refunded using the same payment method that was used to fund it. With the INOX InstaPay wallet you can also make a partial payment and pay the balance with reward points or another payment option for the transaction.

There are other more rewarding ways to buy movie tickets. For example, many banks offer multiple offers on the cards they issue. Movie apps like BookMyShow let you book movie tickets, book a variety of outdoor activities, concerts and more and have frequent connections with banks. When you book tickets with credit or debit cards from banks connected to these apps, you will receive various offers including free Buy 1 Get 1 movie tickets.

When you book tickets through apps like Paytm and Amazon you can sometimes get discounts from Rs 50 to Rs 100 or even discounts of up to 25% on cinema tickets with a partner bank debit card.

On the other hand, if you use the INOX InstaPay wallet, you can only buy tickets for shows in INOX cinemas. You can use the card when your wallet balance is low. However, when booking a cinema ticket, you cannot take advantage of your card. Harshil Morjaria, a certified financial planner at Mumbai-based ValueCurve Financial Solutions, said there is no benefit to having a separate digital wallet as there are similar offerings for cards, e-wallets and UPI apps when booking movie tickets.
This app can be beneficial if you watch all or most of your movies at INOX movie theaters. One of the main drawbacks of the InstaPay wallet app is that it doesn’t support payments to reserve tickets at other multiplexes or cinemas. Therefore, its use is limited.

Also, money loaded into a wallet does not earn interest. It also hurts, especially if you have unused money in your wallet for a long time. The amount loaded into the wallet will only be refunded if the user deactivated the account. Most people would be better off avoiding the INOX InstaPay wallet. There are more attractive deals for consumers who book movie tickets through third-party apps like BookMyShow, Paytm and Amazon.

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