RBL Bank said it has added some 500,000 POS locations since November 2016 with the strategic support of Mastercard, the fastest by any bank during this timeframe. Mastercard has been working towards creation of a robust digital payments ecosystem which brings together banks, merchants, fintech companies, payments facilitators including the regulators. RBL Bank had signed partnerships with several payment facilitators, allowing the bank to expand its payments acceptance network in tier 2 and 3 cities. This also helped the bank to facilitate greater acceptance for digital payments in traditionally cash driven industry segments such as education and healthcare. Rajeev Ahuja, ED and head of strategy at the bank, said Mastercard has played a pivotal role in facilitating the smooth onboarding of the fintech companies and payment facilitators. The bank is confident that this collaboration will go a long way in further strengthening its footprint in the acceptance network.
