Wirecard Announces Expansion of Partnership With India’s RBL Bank to Drive Financial Inclusion

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Tuesday it has expanded its partnership with India’s RBL Bank to drive financial inclusion. Wirecard reported that the partnership will make digital payment and banking transactions more readily accessible to all Indian citizens, including those living in remote areas. Wirecard explained:

“In partnership with RBL, Wirecard will empower its retail agents, who serve as customer service representatives in various areas across the country, to enable the financially underserved to access basic payment and banking services. These include cash withdrawals and deposits as well as balance enquiries. Currently, there are nearly 5,000 agents enrolled in the program. Consumers will only need their local Aadhaar identification number – a biometric database that provides a unique identity to each Indian citizen and can be linked to a bank account – to access those services through Wirecard’s retail agents. The service is available to all Indian citizens with an Aadhaar number linked to a bank account. Today, around 90% of India’s population has an Aadhaar number, and 80% of adults have bank accounts.”

While sharing more details about the partnership, Anil Kapur, Managing Director India at Wirecard, stated:

“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,” said . “Together with RBL Bank, we are addressing the needs of consumers who demand quick and secure financial services, no matter where they are located.”

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