/ Hazira Township Of Essar Steel Goes Cashless ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 17 March 2017

India’s first private sector township to go cashless is the Essar Group’s Hazira township in Surat district of Gujarat.

The township named Nand Niketan, has provided its residents with The Mobile Wallet app that has seen around 12000 downloads since its launch.

On an average, there are Rs 2 lakh worth of digital transactions executed through The Mobile Wallet app and 1000 transactions are reported on a daily basis.

Mumbai-based financial technology company, The Mobile Wallet has been powered by RBL Bank Ltd.

This pilot project was started in December 2016. The project involved adoption of TMW’s mobile app, Mastercard and prepaid card. These cards have almost universal acceptance at all outlets and with billers that accept Mastercard in the country.

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