The partnership will expand the scope of India’s Aadhaar Enabled Payment System, enabling digital payments and banking transactions to be more accessible to Indian residents, including those living in remote areas.
Wirecard retail agents in India will be supported by YES BANK’s infrastructure and will serve as customer representatives India-wide to provide financial services, such as cash withdrawals and deposits, bank-to-bank transfers, and balance inquiries, to customers. The company provides consumers with access to digital financial services such as ticketing, mobile top-up, insurance or logistics through its nation-wide retail agent network.
The Aadhaar-enabled payment system is based on the Aadhaar system, an initiative on behalf of the Government of India to issue a unique identity number for each resident with the aim of promoting social and financial inclusion. As of July 2019, more than 1.2 billion residents have been equipped with a biometric Aadhaar identification.
For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now