IDEMIA, Airtel Payments, HMD Global Join Hands For Digital Rupee on Feature Phones
CIOTechOutlook Team | Wednesday, 06 September 2023, 10:16 IST
IDEMIA, a supplier of identity and biometric solutions, announced a collaboration with Airtel Payments Bank and HMD Global to enhance the reach of Digital Rupee applications on feature phones. Over the next few months, the three organizations will collaborate to launch an offline payment system that would enable the usage of digital rupee on feature phones, therefore encouraging financial inclusion.
“Once this is commercially launched over the next few months, Nokia feature phone users in India, will be able to access the digital Rupee thanks to this collaboration which will empower the Nokia feature phone users with this latest technology and strengthen our government’s vision of inclusive digital economy for all,” said Ravi Kunwar, vic president (India and APAC), HMD Global.
As per IDEMIA, this is the first attempt to deliver the Reserve Bank of India's Central Bank Digital Currency to feature phones via an application interface. It further stated that the initiative will make digital transactions more accessible to a broader range of consumers, particularly in places with low connection. IDEMIA's technology will be used in the cooperation to provide an offline layer to enable quick and safe transactions without the requirement for online validation. It will operate with the digital rupee in India, as well as any other decentralized or centralised, token or account-based solution built in-house by a central bank or independent software suppliers.
“We are confident that once we move from the design phase and launch the solution commercially with all required approvals, it will play a pivotal role in advancing the accessibility of financial services and contribute to India's transition towards a digitally inclusive economy," said Prasad Routray, head, corporate business & alliances at Airtel Payments Bank."
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