Airtel Payments Bank partnered with Stellapps technologies outlets to offer banking services at milk collection centers.
Telecom Tariff Highlights
- Now milk collection centers run as banking service outlets which is helpful for small dairy farmers.
- Airtel banking services benefit not only dairy farmers and also other neighborhood residents to avoid longer distance travel for banking transactions.
- Airtel Payments Bank partnered with stellapps outlets to offer banking services for milk collection centers.
- The incorporation of the centers as bank points will be carried out in a staggered manner.
The associated ecosystem was tested in Uttar Pradesh (Varanasi and Kanpur) and Madhya Pradesh (Gwalior). More than 120 milk collection centers now also function as bank points.
One of the digital arm of Bharat Airtel is Airtel Payments Banking services, will now support Stellapps, one of India's leading dairy companies, provide banking services to small dairy farmers across the country.
Stellapps with its advanced technology offers encrypted financial management services with dairy value chain, along special programs designed to improve the financial inclusion of farmers through its mooPay FinTech platform.
Stellapps joined hands with dairy farmers and working together with dairies and their milk collection centers to enable direct payments to farmers' bank accounts. However, one of the biggest challenges for farmers was the long journey to get to the nearest ATM or bank branch to collect payments.
Airtel Payments Bank opens new bank branches for small milk producers
Airtel Payments Bank partnered with stellapps outlets to offer banking services for milk collection centers. Now milk collection centers run as banking service outlets which is helpful for small dairy farmers.
Airtel banking services benefit not only dairy farmers and also other neighborhood residents to avoid longer distance travel for banking transactions. Through these bank points, they will be able to open a bank account, withdraw and deposit cash, earn interest on savings, access enabled Aadhaar payments, obtain government pension plans, and make bill payments.
The incorporation of the centers as bank points will be carried out on a staggered basis. Through this collaboration, both entities aim to provide easy access to formal banking services to more than one million small dairy farmers across the country.
The associated ecosystem was tested in Uttar Pradesh (Varanasi and Kanpur) and Madhya Pradesh (Gwalior). More than 120 milk collection centers now also function as bank points.
MooPay-enabled milk collection centers not only enable FinTech and the provision of value-added services to farmers, but also allow access to a wide range of ecosystem associations to assist in farm improvement, animal health care and in nutrition services that help them improve animal productivity, milk quality and hence income.
Chief Operating Officer Ganesh Ananthanarayanan said Airtel Payments Bank is very happy with this partnership.
