MicroSave has inked a memorandum of understanding (MoU) with NPCI (National Payments Corporation of India) to support the Jan Dhan Yojana, boost digital transactions and realise government’s dream of becoming a less-cash economy through RuPay, IMPS, AePS and UPI. NPCI will be working with commercial banks and is supported by MicroSave in this programme.
A P Hota, MD and CEO, NPCI, S K Gupta, Chief Project Officer (Financial Inclusion and New Business-FINB), NPCI, Pushpinder Singh (FINB), NPCI, Puneet Chopra, Associate Director and Vivek Gupta, Manager from MicroSave were present on the occasion of signing of the agreement.
“It is a privilege to be associated with NPCI to collaboratively move forward the vision of financial inclusion, a digital and a cashless India. NPCI has transformed digital payments through world class products and services like NFS, NACH IMPS, APBS and made them accessible to the common man through RuPay and AePB platforms. With UPI, BBPS and other building blocks of the India Stack, payments are likely to be further transformed. MicroSave has been contributing the financial inclusion and democratising financial services in India and several emerging markets. In collaboration with NPCI and other commercial banks, we hope to catalyse, accelerate and scale it further. India is well on its way to create a proven blueprint for the world for micro payments, nano credit and a host of financial services for the masses,” said MicroSave, Associate Director, Puneet Chopra.
“We see this partnership as a welcome move it would bring us closer to our objective of a less-cash society. Our endeavour is to touch every Indian with one or more of the electronic payment products by 2020 and we are on the right path,” NPCI MD and CEO A P Hota remarked.
About MicroSave (www.MicroSave.net)
MicroSave is an international financial inclusion consulting firm operating in eleven offices across Asia and Africa. Our mission is to strengthen the capacity of institutions to deliver market-led, scalable financial services to all people through guiding policy and facilitating partnerships to develop enabling eco-systems; comprehensive, customised strategic advice; and actionable, on-site operational assistance. We have worked to design and implement a variety of financial inclusion models. We partner with participants in financial services ecosystems to achieve sustainable performance improvements and unlock enduring value.