Essar Steel’s Hazira township goes cashless

Source: The Hitavada      Date: 18 Mar 2017 09:31:41


NEW DELHI,

Mar 17,

(PTI),

ESSAR Steel said on Friday its Nand Niketan township at Hazira, Surat, had become the first private township to go cashless with the help of The Mobile Wallet (TMW), a Mumbai-based financial technology company.

The Wallet is powered by RBL Bank Ltd. “The pilot project involved adoption of TMW’s twin offering -- the smartphone-based TMW app and the Mastercard-enabled TMW and RBL Bank co-branded pre-paid card, which has almost universal acceptance at all outlets and billers that accept Mastercard in India,” Essar Steel said in a statement.

It said while the TMW app had had more than 12,000 downloads, over 8,000 TMW-RBL Bank pre-paid cards had been issued to a wide range of users in Surat, including Essar employees and their families residing in the Hazira township, merchants and shopowners operating within its precincts, as well as contract labourers working at various Essar facilities.