A mobile payments venture by Bharti Airtel and the Reserve Bank of India has launched in 29 states across India. The two firms are planning to build a pan-India banking network that includes payments. Last year, Kotak Mahindra Bank began giving licences to companies outside the financial system, and Bharti Airtel, with 250,000 retail stores in India, was the first company of its kind to receive a payments licence.
A mobile payments venture by Bharti Airtel and Kotak Mahindra Bank has launched in 29 states across India. The two firms are planning to build a pan-India banking network that includes payments. Last year, the Reserve Bank of India began giving licences to companies outside the financial system, and Bharti Airtel, with 250,000 retail stores in India, was the first company of its kind to receive a payments licence.