Earlier this year, Idea Money launched its Retailer Assisted Model (RAM), a platform which enables retailers to assist customers using the Idea Money Wallet with myriad of transactions including bill payments, recharges, money transfers, airline, and hotel booking, bus ticket, e-commerce etc. Leveraging this platform, Idea Money has launched a 60-day pilot to on-board retailers, large merchants and create an ecosystem wherein hyperlocal merchants are connected to each retailer in supporting customer acquisition.
The campaign aims to replace the customer’s dependence on cash by leveraging Idea Money’s robust technology. Now cashless transaction for day to day purchases is available to both smartphone and feature-phone users. Idea Money’s initiative amplifies the benefits of digital payments in bringing ease and convenience of transactions with the Idea retailer.
This cashless ecosystem will be driven by three key pillars namely ‘Digi Mitra’ (telco retailer), ‘E-vyapar Mitra’ (merchant) and ‘Digital Grahak’ (potential customer/ user) who will become the face of a cashless India. The Idea retailer will be the touchpoint for consumers opting to open a full KYC wallet while the merchants will drive acceptance of cashless payments thereby encouraging and growing the digital payments ecosystem. Customers are therefore encouraged to visit their closest Idea Money outlet to learn how they too, can experience the ease of cashless transactions.
Commenting on the launch of this initiative, Mr. Sudhakar Ramasubramanian, Designate CEO, Aditya Birla Idea Payments Bank, said, “Under the aegis of Digital India, the Indian Government has strengthened its focus on developing a robust fintech ecosystem to make financial inclusion a reality. We believe that a key step to drive this change lies in providing ubiquitous solutions to customers to embrace digital money for daily transactions. Idea Money is delighted to spearhead the Digi Dhan Lakshmi initiative in Gujarat, which is providing an impetus to India’s cashless revolution.”
Speaking of Idea Cellular’s efforts in creating a cashless economy, Mr. Himanshu Kapania, Managing Director Idea Cellular, said, “The telecom industry with its cross country network and outreach is expected to play a vital role in the government’s Digital India initiative. As a leading telecom operator, backed by a vast network and a reach of nearly 200 million subscribers, Idea Cellular holds the unique position, resources as well as a pan-India presence to execute the massive outreach required to implement the cashless payments ideology, which is an integral part of the Digital India program.“
“We are confident that the Digi Dhan Lakshmi initiative will be successful in driving the cashless payments ecosystem in Gujarat, creating a platform that can be referred to and implemented across the rest of the country.” he further added
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