Axis Bank and Bharti Airtel’s subsidiary -- Airtel Payments Bank have entered into the partnership which aims to digitise the cash collection system in small cities and semi-urban regions. Airtel Payments Bank would leverage the wide reach of its digital-led neighbourhood banking model to support Axis Bank with the digitisation of last-mile cash collections.
Axis Bank and its customers would benefit through operational efficiencies in the cash management process. This would also accelerate the payment cycle and help in free up the bandwidth of field agents who operate across the country.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
