Info-tech

Traders’ body launches initiative to accelerate acceptance of digital payments among merchants

Our Bureau New Delhi | Updated on August 08, 2019 Published on August 08, 2019

The Confederation of All India Traders (CAIT) has launched an initiative to fast-track acceptance of digital payments among traders across the country and linking them with e-commerce portals. It has partnered with HDFC Bank, Mastercard, Global Linker, a networking platform for SMEs, and the Common Sercive Centres (CSCs) of the Ministry of Electronics & IT (MeitY) for the digital initiative.

“This first of its kind grassroots initiative called `digi vyapari-safal vyapari’ will transform the rural and urban economy and benefit small merchants and traders even in the remotest of places across the country,” said Praveen Khandelwal, Secretary General, CAIT, at the launch on Thursday.

Elaborating on the proposal, Khandewal said that CAIT will make live showroom for traders on the e-commerce portal which will have integrated facilities of digital payments, logistics and live chat. “The portal will cater to not only B2B but also B2C business activities and will be linked with Business Sans Border programme of the Singapore government which will provide overseas markets to Indian traders,” he said.

The network of five lakh CSCs that are delivering several e-services to rural and remote areas in the country will play a key role . “The village level entrepreneurs who run CSC’s franchisee in rural areas have the power to connect with local communities. They will now become instrumental in driving digital financial literacy and adoption programs in remote locations which otherwise don’t have access to formal banking,” Khandelwal added.

The 40,000 trade associations affiliated with CAIT are expected to play the role of catalyst in bringing traders and CSCs together for availing its benefits.

HDFC Bank representative Smita Bhagat said that the bank was supporting the initiative which was expected to make a big difference in the lives of small traders and merchants by ensuring that they have easy access to business finance and banking resources. “It ties in well with our ongoing social programmes which focus on financial literacy, financial inclusion and income-generating skilling,” she said.

Published on August 08, 2019
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