Airtel Payments Bank has teamed up with Mastercard to develop customised financial products for Indian farmers and Small and Medium Enterprises (SMEs) in a bid to deepen penetration of financial services in underbanked and unbanked regions, a statement said on Monday.
“Airtel Payments Bank (APBL)…has partnered with Mastercard…to develop customised products catering to customers across the underbanked spectrum including farmers, small and medium enterprises, and retail customers,” a joint statement by the two companies said.
“Combined with 500,000 banking points of Airtel Payments Bank, the platform will provide farmers with access to neighbourhood banking, earnings stability, and income growth.
Airtel Payments Bank has been working with Mastercard for the last three years to offer Mastercard-powered debit cards to its savings bank account customers in the country.
Airtel Payments Bank CEO Anubrata Biswas said, “Together, we aim to create products that will motivate customers to adapt formal banking behaviour, and start opting for digital payments.”

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