Indian retailer integrates digital rupee payments


Major Indian retailer Reliance Retail has implemented support for digital rupee payments in one of its Freshpik stores and plans to expand this experience to all formats of the chain. Writes about it TechCrunch.

The company’s CEO V. Subramaniam noted that the initiative is consistent with the desire to provide consumers with a choice. To make a purchase, customers will need to scan a QR code.

“Indians will get another efficient and secure alternative payment method” – said the top manager.

The deployment of CBDC was made possible through collaboration with ICICI Bank, Kotak Mahindra Bank and Innovative Technologies.

Recall that in December 2022, a pilot project was launched in India to test the retail digital rupee among a limited number of consumers and merchants.

Earlier, the country’s Reserve Bank announced the launch of a pilot project to test CBDC in wholesale payments.

In June, Central Bank Deputy Governor T. Rabi Sankar suggested that the digital rupee could completely replace private virtual currencies, including bitcoin.

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