MAKash - How Manappuram with Makash is strengthening dream of #DigitalIndia


Dreams become a reality when intentions turn into actions.

The current post is all about this famous quote. Even before the big dream of #DigitalIndia was weaved, Manappuram Finance Ltd was keen to let the governance and aid reach out to the masses in a digitized way. Yes, they are a step closer.

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!

MAKash Digital wallet

MAKash - Digital Wallet

Valapad Village is now an e-literate Village

Valapad village in Thrissur district may be known for its idyllic beach, but in March 2017 they made their mark on #DigitalIndia map by being an e-literate village of India.

  • What is 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.

  • How Valapad transitioned to e-Valapad?

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 :–

  • To let residents, understand the benefit of Digitization
  • Helps residents in Financial Inclusion
  • Onboarding for people who are less tech-savvy should be smooth
  • Residents are educated, informed and independent of financial transaction they perform
  • To promote #cashless economy

MAKash E-wallet – Bridging the Gap

The GOI with its initiatives like Digi-Dhan Melas, Bhim App or Aadhaar Based Payment is pushing every bit of the air on this earth to turn #DigitalIndia dream into reality. Manappuram Finance Ltd are using these initiatives to reach out to people thereby creating a Digital ripple that results in Financial Inclusion for one and all.

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.

MAKash Digital wallet

MAKash - Digital Wallet

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

While collaborating with Manappuram as Technology partners, we dreamt of a vision to provide a seamless interface that could connect the foot soldiers to every household in a digitized way. Our solution Makash is advanced in technology, customer focussed and yet simple in use. While Manappuram was looking to innovate, we @Teknospire just helping them to accelerate the vision with apt products and solutions as offering and will continue to do so…

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

Author :

Samiksha Seth
Content Strategist

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