Retail giant Reliance to accept CBDC at stores

Share via:

Reliance Retail, India’s largest retail chain, will begin accepting digital rupee retail payments, potentially accelerating the adoption of the country’s recently launched CBDC.

The Mukesh Ambani-led company announced a collaboration with ICICI Bank, Kotak Mahindra Bank, and fintech Innoviti Technologies to launch in-store support for digital rupee. Customers who want to pay with the country’s CBDC (Central Bank Digital Currency), known as e-R, will be given a dynamic digital rupee acceptance QR code to scan at the store, according to the retail giant on Thursday. Reliance Retail, a subsidiary of the Indian conglomerate Reliance, announced that it has begun to support CBDC in its gourmet store line Freshpik and will eventually extend the feature to all of its properties. With the announcement on Thursday, Reliance becomes the largest Indian company to use the digital rupee.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Retail giant Reliance to accept CBDC at stores

Reliance Retail, India’s largest retail chain, will begin accepting digital rupee retail payments, potentially accelerating the adoption of the country’s recently launched CBDC.

The Mukesh Ambani-led company announced a collaboration with ICICI Bank, Kotak Mahindra Bank, and fintech Innoviti Technologies to launch in-store support for digital rupee. Customers who want to pay with the country’s CBDC (Central Bank Digital Currency), known as e-R, will be given a dynamic digital rupee acceptance QR code to scan at the store, according to the retail giant on Thursday. Reliance Retail, a subsidiary of the Indian conglomerate Reliance, announced that it has begun to support CBDC in its gourmet store line Freshpik and will eventually extend the feature to all of its properties. With the announcement on Thursday, Reliance becomes the largest Indian company to use the digital rupee.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Data Management Maestro, The Expertise and Leadership of Siva...

New Delhi (India) April 3: Siva Karthik Devineni, a...

Meta pauses plans to train AI using European users’...

Meta has confirmed that it will pause plans...

KreditBee Subsidiary KB NBFC Raises $32 Mn In Debt...

SUMMARY KB NBFC raised the debt funding from Yubi,...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!