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Mastercard Starts Initiative To Accept Digital Payments

The campaign is aimed at encouraging people to nominate one or more merchants who currently do not accept digital payments

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Mastercard
Payment services major Mastercard on Wednesday launched a nationwide initiative to increase the acceptance and adoption of digital payments among merchants. Pixabay

Payment services major Mastercard on Wednesday launched a nationwide initiative to increase the acceptance and adoption of digital payments among merchants.

The campaign is aimed at encouraging people to nominate one or more merchants who currently do not accept digital payments and Mastercard would work along with the Confederation of All India Traders (CAIT), acquirer banks and fintech companies to support the nominated merchants to deploy digital payments acceptance infrastructure.

“Mastercard along with legendary cricketer Mahendra Singh Dhoni, today announced the launch of a nationwide initiative to accelerate the acceptance and adoption of digital payments. Titled ‘Team Cashless India’, the initiative brings consumers and merchants to the forefront of the digital payments dialogue,” the company said in a statement.

Mastercard
The Initiative of Mastercard brings consumers and merchants to the forefront of the digital payments dialogue. Pixabay

Mastercard will also conduct an outreach program across multiple cities to educate merchants on the benefits of accepting digital payments and to provide a platform for consumers to nominate merchants.

Manasi Narasimhan, Vice President, Marketing and Communications, South Asia, Mastercard said that the initiative would be carried out both in tier-I and tier-II cities and the emphasis will be more on the tier-II cities as the penetration of digital payments has not been as high as the metros.

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She also said that post demonetisation the adoption of digital payment services by both consumers and traders has increased and the the sector is likely to grow further. (IANS)

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Xiaomi Smartphones Sold in India are Made in The Country Itself

Xiaomi phones in India are manufactured mainly by Taiwanese giant Foxconn, also known as Hon Hai Precision Industry Co. Ltd

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Xiaomi
Xiaomi said it has also started exporting phones made in India to Bangladesh and Nepal. Wikimedia Commons

Almost all of the phones that Chinese smartphone maker Xiaomi sells in India are made in the country, a top company executive said here on Monday, stressing that ‘make in India’ Xiaomi smartphones are now being exported to other countries too, though at a small scale.

“About 99 per cent of the phones sold in India are made in the country. We make three phones per second,” Muralikrishnan B, Chief Operating Officer, Xiaomi India, told reporters here.

Xiaomi phones in India are manufactured mainly by Taiwanese giant Foxconn, also known as Hon Hai Precision Industry Co. Ltd.

The manufacturing is being done at Xiaomi’s two facilities — one at the Sri City special economic zone in Andhra Pradesh and the other at Sriperumbudur in Tamil Nadu.

Xiaomi said it has also started exporting phones made in India to Bangladesh and Nepal.

“We have started exporting to these two countries at a small scale. With more government incentives, we plan to scale up the export of ‘make in India’ phones,” Muralikrishnan noted.

“We will have to see if we can manage the entire logistics. Ultimately, we will have to realise that cost efficiency also matters,” he added.

The COO of India’s biggest smartphone seller said that there are various issues hindering export of its ‘make in India’ products to other countries including certification issues and low rate of duty drawbacks.

“BIS certification is not accepted in many parts of the world. If the government can make BIS certification accepted in countries in Europe, it would help us scale,” he said, adding that India has a lot to learn from Vietnam in terms of incentivising domestic manufacturing.

Xiaomi
Almost all of the phones that Chinese smartphone maker Xiaomi sells in India are made in the country, a top company executive said here on Monday, stressing that ‘make in India’ Xiaomi smartphones are now being exported to other countries too, though at a small scale. Pixabay

About 65 per cent of Xiaomi phone components are also sourced from within the country.

“In terms of manufacturing, the progress that India has made in the past 5 years is phenomenal,” said Foxconn India Country Manager Josh Foulger.

Besides initiatives under ‘Make in India’, the corporate tax relief and improvement in ease of doing business have helped a lot, he added.

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Significantly, all the operators at Foxconn’s Sri City facility for Xiaomi are women. The facility employs over 15,000 people. (IANS)