Home Retail Spice Mudra targets 20K retail partners

Spice Mudra targets 20K retail partners

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’s Mobile wallet, has said that it is looking forward to double its retail partners. They are planning to reach out to more than 20,000 partners by September and will also provide free accidental insurance to its registered customers w.e.f  April. At present they are operating in 16 states and have 10,000 retail partners.

Spice Mudra targets 20K retail partners
Spice Mudra will reach out 20,000 retail partners by September. Introduce loyalty program for KYC customers

“Spice Digital aims to expand network to reach over 20,000 retail partners by September 2016. Spice Digital is committed to serving the under served rural population in the country,” CEO, Spice Digital Global, Saket Agarwal was quoted by the PTI in saying.

Further, Spice Digital is working on its loyalty program for the customers of Spice Mudra. It will cover all its customers under KYC’s (Know Your Customers) for Rs 1 Lakh accidental death and disability insurance for every month of usage.

“The roll out would happen from the first week of April. The unique policy shall cover unforeseen accidental death and disability from the next calendar month of usage. The policy will be activated through mobile registration process, similar to the registration of transferring money remittances,” a statement quoted by the PTI in saying.

“We initially aimed to cross Rs 600 crore by June, but having completed transaction worth Rs 600 crore in mere 190 days stands testimony to excellent response from the market for our mobile wallet Spice Mudra,” Saket Agarwal was quoted by the PTI in saying.

Launched in October, Spice Mudra, has seen transactions worth Rs 600 crore in just six months. The wallet remittance service had previously registered Rs 200 crore in just 100 days. It is focusing on domestic remittances and enterprise payments which has documented transactions of over Rs 400 crore in the last 90 days.