Sa-Dhan, a network of 150 microfinance institutions (MFIs) in India, recently partnered with India’s NextGen Telesolutions to deliver digital financial services to a group that is often excluded from financial services: people who have a mobile phone, but not a smartphone.
Jiji Mammen, the CEO of Sa-Dhan reportedly said, “Digitisation in collections in the microfinance sector has been a great challenge as most of the MFI clients do not possess smart phones.”
Enabling Sa-Dhan’s members to give more people the ability to send payments from feature phones has the potential to reduce the MFIs’ costs while expanding outreach in smaller cities and rural areas.
In addition to enabling mobile payments, NextGen Telesolutions’ services include “mobile couponing” and systems that allow retailers to accept card payments.
Sources and Additional Resources
Economic Times article
https://economictimes.indiatimes.com/tech/technology/nextgen-ties-up-with-sa-dhan-to-promote-digital-payments/articleshow/95180123.cms
Sa-Dhan homepage
https://www.sa-dhan.net
Nextgen homepage
https://www.nextgentele.in
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