Spice Money taps NSDL Payments Bank to offer zero balance accounts to rural India
Indian fintech Spice Money has partnered up with NSDL Payments Bank to offer zero balance accounts to people living in rural India.
Spice Money taps NSDL Payments Bank to offer zero deposit accounts
With the partnership, Spice Money aims to leverage its network of more than 1.27 million nanopreneurs by equipping them with NSDL Payment Bank’s “instant kits” that will streamline the onboarding process and enable rural Indians to open a zero balance savings account “instantly”.
“Through the local touch points, customers will be able to receive personalised assistance and guidance throughout the process, even in remote regions with limited banking infrastructure,” both firms say. “This localised approach will foster trust and familiarity, encouraging more people to embrace formal banking channels confidently.”
Spice Money aims to broaden financial inclusion across India by giving this demographic access to essential banking facilities, including a debit card, to facilitate easy access to funds and transactions.
Headquartered in Noida, Spice Money describes itself as a “rural fintech” catering to merchants and nanopreneurs, offering digital financial and e-retail services such as cash deposits, withdrawals, ATM services, bill payments, money transfers and loans to rural citizens via its mobile app.
