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Airtel Payments Bank, Mastercard team up for payment solutions

Thursday, 28 May 2020
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Airtel Payments Bank has partnered with Mastercard to build customised solutions for payments such as tap-and-pay NFC, credit facility and other neighbourhood banking services for farmers and SMEs.

The companies aim to cater to under-banked spectrum of users and enable digital adoption via the partnership. The collaboration 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.

Airtel Payments Bank and Mastercard will work together to create differentiated card solutions, including solutions for contact-less payments via Near Field Communication (NFC) for customers and merchants.

NFC payment works when users pay with their smartphones in lieu of credit cards simply by waving their phone in front of a terminal. The companies have worked together for the last three years to offer Mastercard powered debit cards to Airtel’s savings bank account customers in the country.

 
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