“On the initial phase of this progressive step, Idea Money has adopted three regions namely, the city of Anand, the township and villages of Dahej and Thamna, to persuade individuals and families to go cashless,” said Idea in its official communiqué.
Earlier this year, Idea Money launched its Retailer Assisted Model (RAM), a platform that enables retailers to help customers using the Idea Money Wallet service. Idea Money, using that platform also launched a 60-day pilot to on-board retailers, large merchants wherein hyperlocal merchants are connected to each retailer in support of customer acquisition.
“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,” said the statement.
The Idea retailer will be the touchpoint for consumers opting to open a full KYC wallet.The merchants will drive the adaptability towards cashless payments thereby encouraging and growing the digital payments ecosystem.
“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, said Sudhakar Ramasubramanian, Designate CEO, Aditya Birla Idea Payments Bank.