CAIT and Mastercard Further Strengthen Partnership

In its endeavour to support the government’s agenda of establishing India as a cashless economy, Mastercard today announced partnership with The Confederation of All India Traders to inaugurate ‘Digital Rath’.

This unique initiative will build awareness and further accelerate the usage and acceptance of digital payments among approximately 10 Lakh merchants by December 31, 2017 by working with the affiliate organizations. Through this programme, Mastercard will support the government’s target of powering 2500 crore digital transactions by March 2018.

Targeted at merchants across Lucknow, Kolkata, Pondicherry, Navi Mumbai and Bhopal, this first of its kind initiative will focus on training the merchants through the “Master Your Card” training sessions by Mastercard. Under this initiative Mastercard aims to reach out to CAIT’s merchants and traders base and inform them on the benefits of electronic payments and how best to leverage them as a tool in growing their businesses.

Ravi Aurora, executive director, Global Community Relations, Mastercard, said: “This association with CAIT will provide a major fillip in our endeavour towards a less cash society and we believe that small traders and merchants are an important constituency to help India transform from a cash economy to one of the most advanced digital economies in the world."

Mastercard has set a goal globally to connect 400 lakh micro and small merchants to its electronic payments network by 2020 and this partnership with CAIT is a step forward towards reaching that goal. Mastercard through its safe and secure innovative technologies will empower the traders and merchants thus transforming the country into a digitally empowered society and a knowledge economy.” He added.

Praveen Khandelwal national secretary general, CAIT, said: “We are determined and committed to making digital payment acceptance a reality for India and this initiative is a testimony of our efforts. We are confident that through increased adoption of digital payments, merchants will enjoy increased sales, lower costs, and access to more customers.”

Digital Rath is aimed at driving behavioral change and spread awareness on the importance of digital payments to millions of merchants across the country. This programme would also extend to other Tier-II and Tier-III cities through on-ground educative sessions aimed at reaching merchants with the support of Confederation of All India Traders (CAIT).