Private sector lender Yes Bank has tied up with Universal Music Group to provide cashless payment solutions for the visitors at music festival – ‘Bacardi Enchanted Valley Carnival’ (EVC). Yes Bank would be the banking partner for the event, which will be held from December 17-20, 2015 at Aamby Valley City, Lonavala.
About 15,000 visitors are expected to participate in the event. Yes Bank will facilitate the cashless payments by using “Wrist Bands” which can be loaded at various collection points at the festival, and can then be used for making any kind of payment with a “simple tap”.
Devraj Sanyal, Managing Director and Chief Executive Officer of Universal Music Group and EMI Music, South Asia, said, “Making Bacardi Enchanted Valley Carnival cashless will be a first mover on our side of the world and having a partner like Yes Bank to invest in the technology that supports and run this with us will add a level of sophistication to the journey of any festival go-er.”
Ritesh Pai, Senior President and Country Head, Digital Banking, Yes Bank, said, “We truly value our association with Universal Music Group, who with their experience and expertise, are the ideal partners for driving this initiative.”
Having over six years of experience in business journalism, Krishna has a knack for writing on telecom and IT. She believes that tryst with technology is the best thing that has ever happened to the mankind. Krishna is a telecom analyst with CMR