Wirecard expandspartnership
with India’s RBL Bank to further drive financial inclusion
Wirecard, the global innovation
leader in digital financial technology, announced today an expanded partnership
with RBL Bank to promote financial inclusion in India. This partnership will make
digital payment and banking transactionsmore readily accessible to all Indian
citizens, including those living in remote areas.
In partnership
with RBL, Wirecard will empower its retailagents, who serve as customer service
representatives in various areas across the country, to enable the financially
underserved to access basic payment and banking services.These include cash
withdrawals and deposits as well as balance enquiries. Currently, there are
nearly 5,000 agents enrolled in the program. Consumers will only need their local
Aadhaar identification number –a biometric database that provides a unique
identity to each Indian citizen and can be linked to a bank account–toaccess
those services through Wirecard’s retail agents. The service is available to
all Indian citizens with an Aadhaar number linked to a bank account. Today, around
90% of India’s population has an Aadhaar number, and 80% of adults have bank
accounts.
Wirecard
provides hundreds of thousands of people daily with access to affordable
financial services and other related services such as ticketing, mobile top-up,
insurance or logistics through its nation-wide retail agent network and offers
tens of thousands of retailers the opportunity to earn extra money by driving
financial inclusion in India. With the extended partnership with RBL Bank, Wirecard’s
retail agentscan now offer an even broader range of digital financial services.
“Our extended partnership with RBL Bank will help
bring even more essential transaction services to both urban and rural
residents India-wide, regardless of their bank. As a leading digital financial
services provider, we are excited to support this innovative solution,” said Anil
Kapur, Managing Director India at Wirecard. “Together with RBL Bank, we are
addressing the needs of consumers who demand quick and secure financial
services, no matter where they are located.”
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