Indian private sector lender RBL Bank and payments technology provider Wirecard have teamed up to support financial inclusion in the country.
Through the tie-up, Indians living in remote areas will gain access to basic payment and banking services.
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Among these services are cash withdrawals and deposits and balance enquiries.
These will be offered through Wirecard’s retail agents.
Anyone with a local Aadhaar identification number can avail these services.
According to Wirecard, nearly 90% of Indians have an Aadhaar number.
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By GlobalDataCurrently, around 5,000 agents are involved in the initiative. These agents serve as customer service representatives.
Commenting on the alliance, Wirecard managing director for India Anil Kapur said: “Our extended partnership with RBL Bank will help bring even more essential transaction services to both urban and rural residents India-wide, regardless of their bank.
“As a leading digital financial services provider, we are excited to support this innovative solution.
“Together with RBL Bank, we are addressing the needs of consumers who demand quick and secure financial services, no matter where they are located.”
RBL Bank offers a range of services including corporate and institutional banking, commercial banking, business banking, as well as development banking.
At present, the bank has a client base of more than 5.82 million.
