Airtel Payments Bank (APBL), India’s first Payments Bank, has partnered with Mastercard to develop customized products catering to customers across the underbanked spectrum including farmers, small and medium enterprises and retail customers.
The collaboration will bring together Mastercard’s global and local experience in developing advanced financial solutions and Airtel Payments Bank’s strong distribution network to reach the last mile and its large customer base.
The collaboration aims at building a digital platform which provides farmers with knowledge about advanced farming techniques and connection to marketplaces, while simultaneously enabling them to receive payments directly in their Airtel Payments Bank account. Combined with 500,000 banking points of Airtel Payments Bank, the platform will provide farmers with access to neighborhood banking, earnings stability and income growth. This will be a significant move towards building a cashless economy.
Finally, Airtel Payments Bank and Mastercard will work together to create differentiated card solutions, including solutions for contact less payments via NFC (Near Field Communication) for customers and merchants.
Anubrata Biswas, MD and CEO, Airtel Payments Bank
We are glad to partner with Mastercard to develop innovative solutions as part of our endeavor to drive financial and digital inclusion in the country.
Porush Singh, Division President, South Asia, Mastercard
Mastercard is delighted to extend the partnership with Airtel Payments Banks to build innovative digital payments solutions that will help farmers and small & medium businesses connect with the digital world.
