Around 20,000 new teller machines, majorly cash recyclers, are being deployed in the country.
The partnership will offer the company a wider footprint in the market. Mswipe currently has over 2,00,000 merchants on board across 500 cities in the country.
ATMs have become an attractive site of attack from cyber criminals globally: Aleks Gostev, Kaspersky Labs
Aleks Gostev, the chief security expert at Kaspersky Labs explains the looming threat on the Indian banking system and what should be done to prevent a major financial loss.
The company is planning to increase its SME branch network to 150 from 25 now.
Buoyed by strong international indicators and domestic political stability India's currency has been steadily appreciating over the last few weeks.
National Payments Corporation is giving a big push to encourage as many highways to onboard the system to increase digital payments in the country.
With the partnership, an immigrant or any individual of Nepali origin residing anywhere in India can easily send money back home in Nepal through any ItzCash outlet by simply producing a copy of his citizenship certificate.
Samsung Pay, through its partnership with NPCI and Axis Bank, will now have access to all the 44 banks which are live on UPI.
While fund transfer through messaging platforms is a possibility and has been used extensively in other countries as well, Indian bankers are concerned about security features.
With over 35 years of experience in the banking and financial services industry, Monga brings significant strategic insight and knowledge to the bank’s board.
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