Dreams become a reality when intentions turn into actions.
Thanks to thousands of foot soldiers as Agents/Branch Correspondents in Kerala – the #changemakers, Manappuram Finance Ltd or MAFIL the initiators - with their MaKash e-wallet and the rural people the beneficiaries. The change is here!
Valapad Village is now an e-literate Village
An e-literate Village means at least one member of each household is educated with different payment options to promote #cashless mode and help rural people in #FinancialInclusion. The education is intended to support individuals in performing #financialtrancations independently, make an informed decision of their financial matters and reduce dependency on Banks, Agents or fintech firms.Valapad village with a population of about 35,000 has a literacy rate of 86.5% underwent a remarkable change of being a digitally literate village. The transition was facilitated by Manappuram Finance Ltd employees, ward members and a group of trained volunteers from the nearby college.
The members went door-to-door to educate individuals on different modes of payment options and the way to avail them. The drive went for five days, where volunteers covered 8,742 households out of a total of 9,809 homes.
The mission imparted training to residents on #digital wallets or #ewallets like MaKash, Online Banking facilities, #BillPayments, #cashlessPayments, #FundsTransfer #Loans etc. While the transactions seem simple, the need to educate residents on jargon like login, password, OTP, etc. was essential.
The mission was aimed :–
MAKash E-wallet – Bridging the Gap
The recent effort by MAFIL to launch a semi-closed payment instrument and eWallets – MaKash would be beneficial to rural people regarding low cost, convenience and serves as a gateway to many services like bill payments, funds transfer, cash withdrawal or online shopping.
The Makash App UI is elegant and intuitive in nature; you can download the app from s Google Play store . The UI has been designed with an aim to meet the requirements of non-tech savvy people. Screens like logging in, DTH, Airtime recharge need minimal information, and with two clicks a user gets instant recharges.
More features are currently WIP and user would soon be able to avail services like landline and broadband recharge. Manappuram, who are known for their Gold loan would also provide a natural feature of loan disbursement through Makash. The unique characteristics of the loan processing would be that the loan amount would be credited to the user’s wallet and he could withdraw it as per his need basis.
Teknospire Proud To be the Technology Partners for Makash
So, next time when you get stuck on a highway and looking for an ATM, do not rub your eyes if the owner asks you to pay via digital wallet! #DigitalIndia in the making…
References:Intel Launches Rural Digitization - Video
Bhim: India’s ticket to a cashless economy
Manappuram Finance launches co-branded prepaid Money Card
After Manappuram's project E-Valapad, village declared fully E-Literate
Samiksha Seth Content Strategist