CAIT flags off ‘Digital Rath’ to boost electronic payments

Source: The Hitavada      Date: 09 Jan 2018 09:57:11


 

Business Bureau,

IN ITS efforts to incentives digital payments in the country, the Confederation of All India Traders (CAIT) on Monday launched a ‘Digital Rath’ under its national campaign ‘Cashless Bano India’ in association with MasterCard .
The ‘Digital Rath’ was launched to boost electronic payments among traders and consumers across the country and to motivate trading fraternity to transform from cash-based business formats to technology-led digitised transactions.


The Digital Rath was flagged off at Kashmiri Gate Market in walled city area of Delhi.
The Digital Rath is targeted to touch about 10 lakh people across the country in 10 cities including Gwalior, Jhansi, Kanpur, Kolkata, Puducherry, Nagpur, Bhopal, Pune, Navi Mumbai and Mumbai.
The campaign will continue till January 30, and the Digital Rath will cover about a distance of 10,000 kms in this phase.


Besides these cities, the campaign will be conducted simultaneously in other parts of the country as well. The campaign is designed to also include customers/ buyers in its horizon by way of providing them incentives for every transaction done by MasterCard credit/ debit card and chance for seller/ trader to win a reward.


CAIT National President B C Bhartia said, “Small merchants are the back bone of Indian economy and efforts towards a less-cash society will help bring more transparency, trust and technology which will mainstream the self-organised sector and help them reap the rewards of a digital economy. At a time when we are moving ahead towards Digital India, the adoption of digital payments is the nucleus of this change.”


The Cashless Bano India campaign will prove to be a game changer in adoption of digital payments in the country.
Pradeep Khandelwal, Secretary General of CAIT said, “Since one year of demonetisation, CAIT remained on the forefront of digital payment revolution in the country with the enduring spirit of creating mass awareness through its nation-wide conferences, seminars and campaigns. Today, with the launch of its third ‘Digital Rath’ CAIT is a step ahead and bring incentives to traders for adoption of digital payments so that the system rapidly gains massive traction in the entire country”.


Rohan Mishra, Vice-President of Mastercard said, “This association with CAIT will provide a major fillip in our endeavour towards a less cash society and we believe that small traders and merchants are an important constituency to help India transform from a cash economy to one of the most advanced digital economies in the world. Mastercard has set a goal globally to connect 400 lakh micro and small merchants to its electronic payments network by 2020 and this partnership with CAIT is a step forward towards reaching that goal”.


The country has moved several notches higher in terms of scale and adaptability of digital payments system in the last one year of demonetisation.
As per RBI, 933 crore digital transactions collectively valued at Rs 12.13 lakh crore have taken place in the country, between November 2016 and September 2017. CAIT believes that digital payments system would create positive climate in the country for doing business with ease which would certainly result in more opportunity to grow.