Express Computer
Home  »  News  »  PhonePe Brings About The Idea Of Having A Nearby Retail Shop As ATM

PhonePe Brings About The Idea Of Having A Nearby Retail Shop As ATM

One of the leading players in the payments space, PhonePe believes that value-added services in the absence of Merchant Discount Rates (MDR), would be the key to future growth!

0 360

At a time when news about WhatsApp Pay has been flooding the market, PhonePe has forayed into the business of digital ATMs. This is with an ambition to operate what could turn out to be the largest fleet of cash withdrawal points across India.

PhonePe, that’s owned by has geotagged more than half a million merchants with excess cash, to help out customers convert digital money into cash. This would done through a ‘withdraw’ button on the PhonePe application. The basic idea is to increase merchant engagement, on PhonePe’s platform by creating a new value service for both local shop owners and consumers.

As per an official of PhonePe, banks are not finding it viable to operate ATM and that is one of the reasons, several ATMs are dry on cash. This is specifically in tier 3 and 4 cities, where the lack of availability of cash has been a cause of concern.

One of the leading players in the payment space, believes that in the absence of Merchant Discount Rates (MDR), including value-added services, to existing business channels would be the key to future growth in a market that’s already so competitive with Google, Paytm and now WhatsApp.  

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 

Stay updated with News, Trending Stories & Conferences with Express Computer
Follow us on Linkedin
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image