Posted by Mumbai: Rural fintech firm Spice Money launches voice alerts service on its app and portal. The subsidiary of DiGiSPICE Technologies on Tuesday announced the launch of a voice alert functionality inbuilt into its Spice Money app and website across merchant outlets.
Spice Money launches voice alerts service for digital transactions
According to Spice Money, this move is aimed at ensuring better transparency for both merchants as well as customers. So now a user makes a transaction at a Spice Money Adhikari (merchant) outlet or PoS, the voice feature will announce the amount of transaction done. This makes the user aware of the successful transaction done thereby enabling a secure and transparent digital transaction.
A total of 2.3 billion transactions worth ₹3,00,38 crore took place through AePS (Aadhar-enabled Payment System) between April 2021 and March 2022, as per National Payments Corporation of India (NPCI)’s data. In March 2022 alone, 225 million transactions worth ₹28,522 crores took place through AePS.
The launch of the inbuilt voice alert functionality is a step towards building trust in digital financial solutions in rural India. It enables rural citizens to safely conduct transactions while getting a system-generated on-spot voice alert that spells out the amount of money transacted.
Thereby ensuring transparency and peace of mind, while also instilling a sense of trust. The automated voice alert will also help in instilling more confidence in digital transactions thereby increasing footfalls at a merchant’s store.
Trust and transparency
“We have always been committed towards creating an environment of trust and transparency to induct the underserved rural population into the digital ecosystem,” said Sanjeev Kumar, Co-Founder and CEO of Spice Money.
“In this regard, the voice alert functionality that we have introduced will create greater clarity for both merchants and customers, with on-spot voice notification for all transactions.”
“I am confident this will further enhance the environment of trust, and encourage more people to transact digitally,” added Kumar.
So far, Spice Money has covered and touched 18,500 pin codes across the country and has a network of 1 million Adhikari (merchant). It has covered over 2,50,000 villages across 700 districts and 5,000 blocks.
In order to build awareness for the voice functionality feature, the rural fintech firm has also launched a brand film showcasing multiple rural consumers receiving voice alerts for the digital transactions being done at a local kirana store.
It highlights how the inbuilt voice functionality in the Spice Money app and website will build trust and awareness among people.