Farmers in India are offered Kisan Credit Cards to provide adequate and timely support from the banking system to the farmers for their short-term credit needs. The banking industry can
take a clue from this and introduce a retailer credit card for exclusive use by small-time retailers to pay to their suppliers.
What’s in it for the bank:
What’s in it for the retailer:
My personal opinion is that this can provide the banks a lot of growth in the next few years.What do you all think? Pls let me know.
Sounds like a very innovative approach which can be used all over the Sub-continent plus other parts of Asia and Africa.
As ever, the key to success is the approach of banks to implementation which needs to be hands on, iterative and flexible to cater to the needs of farmers in rural areas.
Definitely one to watch....
© Finextra Research 2014