Airtel Payments Bank adds Spencer’s Retail to its digital payments ecosystem

Airtel Payments Bank - India’s first payments bank, has announced that its customers can now make convenient digital payments at all Spencer’s retail outlets across 35 cities/towns across India.

This is yet another addition to Airtel Payments Bank’s national digital payments ecosystem, which already has over one million merchants.

Airtel Payments Bank customers will enjoy 10% cashback on all digital payments for shopping at Spencer’s outlets adding great value to convenience of cashless transactions. The offer is available for the next 30 days.

Vir Inder Nath, CEO – West Bengal & Odisha, Bharti Airtel Limited said, “We are delighted to partner Spencer’s Retail as part of our endeavour to build a robust and diverse merchant ecosystem that offers great convenience and value to customers. We hope this partnership will accelerate the adoption of digital payments for Airtel Payments Bank customers”

Vipin Bhandari, Deputy CEO, Spencer’s Retail Limited said, “Catering to the needs and comforts of our customers has been the key factor that has governed all our decisions, over the years. We, at Spencer’s Retail, are delighted to enter a strategic tie-up with Airtel Payments Bank, and are confident that this association will deliver great value to customers and allow us to extend a more convenient purchase experience to our shoppers.”

Airtel Payments Bank is focusing on developing a nationwide merchant ecosystem of over five million partners including small kirana stores, grocers, pharmacies, restaurants, etc. These merchant partners will accept digital payments from Airtel Payments Bank customers over mobile phones. Airtel Payments Bank has launched a Merchant App for digital onboarding of partners. Interested merchant partner can download this app from Google Playstore for free and start accepting digital payments instantaneously.

For opening savings bank account with Airtel Payments Bank, customers require no documents and only their Aadhaar number is required for e-KYC. The customer’s mobile number will be his/her bank account number and an interest rate of 7.25 % p.a. is being offered on deposits in savings accounts. The payments bank is also offering one minute of Airtel mobile talktime for every Rupee deposited at the time of opening a savings account. Free Personal Accidental Insurance of Rs. 1 Lac is also given with every Savings Account.