In a mission to promote financial inclusion in India, global innovation leader in digital financial technology, Wirecard entered into a partnership with RBL Bank. This would make digital payment and banking transactions readily accessible to all Indian citizens, including those living in remote areas. For doing so, Wirecard plans to empower its 5,000 enrolled retail agents to engage with financially underserved to access basic payment and banking services across the country. Considering today, around 90 per cent of India’s population has an Aadhaar number, and 80 per cent of adults have bank accounts, this service is available to all Indian citizens having an Aadhaar number linked to a bank account. To avail the services through Wirecard’s retail agents, the consumers need to have 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. The company is into providing 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.
That said, with it services it also offers tens of thousands of retailers the opportunity to earn extra money by being a part of driving financial inclusion in India. With the extended partnership with RBL Bank, company’s retail agents can 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.”