Airtel Payments Bank Limited was country’s first name in the domain to receive a payments bank licence from banking regulator Reserve Bank of India (RBI) on April 11, 2016.
The Payments Bank was launched this year in January by the Union Finance Minister Arun Jaitley.
It became the first bank to initiate its operations in the country, racing ahead of all its competitors.
“All 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank,” said Airtel.
It further stated that all Airtel Payments Bank customers would be able to use a range of convenient banking services at these 14,000 fuel stations namely open new accounts, make cash deposits and withdrawal facility, and transfer money. This will in return fuel up the reach of Airtel Payments Bank’s retail based network that caters to more than 300,000 Airtel retail outlets as banking points.
“We are delighted to partner HPCL as part of our endeavour to build a robust and diverse merchant ecosystem that brings more digital payments avenues to our customers. We are, in particular, pleased to have these fuel outlets as our banking points. We are confident that this partnership will add to the growth of digital payments in the country and contribute to the Government’s Digital India vision,” said Shashi Arora, MD & CEO, Airtel Payments Bank.
“We are pleased to join hands with Airtel Payments Bank to promote digital payments in the country and contribute to the government’s digital India endeavour. The customer visiting our outlets will now be able to pay seamlessly for fuel purchases and will also be able to enjoy the added convenience of banking with Airtel Payments Bank. We are confident our customers will benefit significantly with this unique association,” said G S V Prasad, Executive Director – Retail at HPCL.