Airtel Payments Bank partners with Axis Bank

Airtel Payments Bank has collaborated with Axis Bank, to digitise the cash collection system in India’s tier III cities and semi-urban areas. Airtel Payments Bank will leverage the extensive reach of its digital-led neighbourhood banking model to support Axis Bank with the digitization of last-mile cash collections.

This collaboration will help Axis Bank build operational efficiencies in the cash management process. It is also expected to speed up the payment cycle and help in releasing the bandwidth of field agents who operate across the nation.

Agents can now deposit the amount at any Airtel Payments Bank outlet in the neighbourhood, which will be transferred to the Axis Bank accounts saving them the effort of travelling back and forth to collect and deposit EMIs. This will further mitigate the risk of carrying cash collections by agents during long-distance travel.

Additionally, this process will help avoid any delay, as Airtel Payments Bank outlets operate much beyond the traditional banking hours and over the weekends too.

Axis Bank customers will also be able to make direct EMI deposits for loan payments at the 5,00,000 banking points of Airtel Payments Bank.