India's first payments Bank, Airtel Payments Bank owned and managed by Bharti Airtel, today announced that its customers could make digital payments at all Spencer's retails outlets across 35 cities/towns in India. Of late, Airtel has been working hard on adding new merchants to its digital payment ecosystem, which already has over one million merchants.
Airtel Payments Bank customers will enjoy 10 percent cash back on all digital payments for shopping at Spencer’s outlets adding significant value to the convenience of cashless transactions. The offer is available for the next 30 days.
Vir Inder Nath, CEO – West Bengal & Odisha, Bharti Airtel Limited said, “We are delighted to partner Spencer’s Retail as part of our endeavor to build a robust and diverse merchant ecosystem that offers great convenience and value to customers. We hope this partnership will accelerate the adoption of digital payments for Airtel Payments Bank customers.”
Vipin Bhandari, Deputy CEO, Spencer’s Retail Limited said, “Catering to the needs and comforts of our clients has been the key factor that has governed all our decisions, over the years. We, at Spencer’s Retail, are delighted to enter a strategic tie-up with Airtel Payments Bank, and are confident that this association will deliver significant value to customers and allow us to extend a more convenient purchase experience to our shoppers.”
Airtel Payments Bank is focusing on developing a regional merchant ecosystem of over five million partners including small Kirana stores, grocers, pharmacies, restaurants, etc. These merchant partners will accept digital payments from Airtel Payments Bank customers over mobile phones. Airtel Payments Bank has launched a Merchant App for digital onboarding of partners. Interested merchant partner can download this app from Google Play store for free and start accepting digital payments instantaneously.
For opening a savings bank account with Airtel Payments Bank, customers require no documents and only their Aadhaar number is needed for e-KYC. The customer’s mobile number will be his/her bank account number, and an interest rate of 7.25 percent is being offered on deposits in savings accounts. The payments bank is also offering one minute of Airtel mobile talk time for every Rupee deposited at the time of opening a savings account. Free Personal Accidental Insurance of Rs. 1 Lakh is also given with every Savings Account.