Idea Money, digital wallet service from Idea Cellular, today launched its ‘Digi Dhan Lakshmi Initiative’ for cashless/digital payments in Gujarat. In first phase Idea Money has adopted three regions namely, the city of Anand, the township and villages of Dahej and Thamna, to encourage individuals and families to go cashless.
Earlier this year, Idea Money launched its Retailer Assisted Model (RAM), a platform which enables retailers to assist customers using the Idea Money Wallet with transactions including bill payments, recharges, money transfers, airline and hotel booking, bus ticket, e-commerce etc.
Digi Dhan Lakshmi Initiative is a 60-day pilot to on-board retailers, large merchants and create an ecosystem wherein hyperlocal merchants are connected to each retailer in supporting customer acquisition. The campaign aims to replace the customer’s dependence on cash by leveraging Idea Money. Idea money works for both smartphone and feature-phone users.
For this initiative idea Money is focusing on ‘Digi Mitra’ (telco retailer), ‘E-vyapar Mitra’ (merchant) and ‘Digital Grahak’ (potential customer/ user). The Idea retailer will be the touchpoint for consumers opting to open a full KYC wallet while the merchants will drive acceptance of cashless payments thereby encouraging and growing the digital payments ecosystem. Customers need to visit their closest Idea Money outlet to learn how to make cashless transactions though idea money.
Commenting on the launch of this initiative, Sudhakar Ramasubramanian, Designate CEO, Aditya Birla Idea Payments Bank, said, “Under the aegis of Digital India, the Indian Government has strengthened its focus on developing a robust fintech ecosystem to make financial inclusion a reality. We believe that a key step to drive this change lies in providing ubiquitous solutions to customers to embrace digital money for daily transactions. Idea Money is delighted to spearhead the Digi Dhan Lakshmi initiative in Gujarat, which is providing an impetus to India’s cashless revolution.”
Speaking of Idea Cellular’s efforts in creating a cashless economy, Himanshu Kapania, Managing Director Idea Cellular, said, “The telecom industry with its cross country network and outreach is expected to play a vital role in the government’s Digital India initiative. As a leading telecom operator, backed by a vast network and a reach of nearly 200 million subscribers. We are confident that the Digi Dhan Lakshmi initiative will be successful in driving the cashless payments ecosystem in Gujarat, creating a platform that can be referred to and implemented across the rest of the country.” .
The digital wallet service is currently being offered by IMCSL (Idea M-Commerce Services Ltd.), a subsidiary of Idea Cellular. Idea Money is operational on self–assisted as well as retailer assisted modes across USSD, website and Mobile App Channels. Idea Money wallet is not necessarily dependent on smartphone/data usage and can be used by feature phone customers as well, through USSD or assisted mode. The service is now available in 17 Circles across the country.