Essar's Nand Niketan: India's first private sector township to go cashless

Essar’s Nand Niketan at Hazira (in Surat district, Gujarat) became India’s first private sector township to go cashless, using the mobile wallet for performing digital transactions. Mumbai-based tech company was roped by the township to provide smartphone based application for mastercard-enabled mobile wallets. So far around 8,000 prepaid cards were issued in the township to the employees, merchants and shop owners operating within its precincts. An average of Rs 2 lakh worth of digital transactions are being executed every day.

Month: Current Affairs - March, 2017