Categories: Business

Airtel Payments to provide financial assistance to farmers and small industries with Bank MasterCard

Photo: GOOGLE

Airtel Payments Bank and Mastercard to develop customized financial products for farmers and SMEs in India

new Delhi. Airtel Payments Bank has tied up with MasterCard to develop a special type of financial product for Indian farmers and small and medium enterprises (SMEs). The company has taken this step with the intention of increasing the penetration of financial services in the areas deprived of banking facilities or low bank facilities.

This alliance between the two companies will help Mastard's global and local experience on the one hand, while it will also benefit from the distribution network of Airtel Payments Bank. Airtel's extensive customer base and its payments network, which help it reach the end, will also get good support.

A joint statement issued by the two companies stated that Airtel Payments Bank (APBL) has entered into a partnership with MasterCard. The objective of this partnership is to create financial products specifically for those areas where there is less access to bank services. These include farmers and small and medium industries as well as a few outspoken customers.

The statement said that both companies are working to promote formal banking and digital payments in the country. This is in line with the Government of India's Digital India and the banking approach for every Indian. It said that Airtel Payments Bank has around five lakh banking contact points across the country, this will give farmers the benefit of banking facilities in their neighborhood.

There will also be stability in income and increase in income. This will go a long way in moving towards a cashless economy. The statement said that the two companies will also work together to create a customized solution for small businesses in the country.

This post was published on May 26, 2020 7:14 pm

Content Team

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