Bharti Airtel’s subsidiary -- Airtel Payments Bank has teamed up with Mastercard to develop customised financial products for Indian farmers and Small and Medium Enterprises (SMEs) in a bid to deepen penetration of financial services in under banked and unbanked regions. The collaboration will bring together Mastercard’s global and local experience in developing advanced financial solutions and Airtel Payments Bank’s distribution network to reach the last mile and its large customer base.
Both entities have been working towards driving adoption of formal banking and digital payments in the country, in line with government’s vision of ‘Digital India’ and banking for every Indian. The partnership 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.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.