MasterCard and CAIT launch joint initiative to train traders for modernization of businesses by leveraging digital technologies

NEWS: #MasterCard & Confederation of All India Traders to accelerate adoption of electronic #payments for Indian #SMEs http://news.mstr.cd/1LBdkAU

New Delhi, India, 26 May 2015MasterCard and the Confederation of All India Traders (CAIT) today announced a joint initiative to promote the digitization of payments among Indian traders, through knowledge sharing and training sessions across the country, in line with the government’s ‘Digital India’ vision.

MasterCard and CAIT will organize a series of trainings and educational sessions called “Master Your Card” in various metro and non-metro cities including New Delhi, Mumbai, Bangalore, Pune, Surat, and several others. The trainings will kick off in Delhi from June 3, followed by Mumbai and Pune on June 4 and June 5 respectively.

The trainings will also share research that analyze consumers’ payment habits and compare their purchasing power through various payment modes. Traders will be trained to analyze the priorities and spending habits of consumers using analytical tools and trend reports, so as to tailor their business strategies and offers to consumer preferences.

Sharing his thoughts on the occasion, Praveen Khandelwal, National Secretary General, CAIT, said, “With the government’s emphasis on online compliance across departments, we traders are also obliged to upgrade and modernize ourselves. This partnership is one in a series of steps we have taken to ensure the trading fraternity is able to compete successfully in an increasingly digitized world. A lot of small and medium scale enterprises have started recognizing technology as a key business driver but adoption in India is still low as compared to other countries. Our initiative is to help them embrace digital technologies in their businesses and contribute significantly in the growth of economy.”

Commenting on the partnership, Ari Sarker, Country Corporate Officer (India) and Division President, South Asia, MasterCard, “The technology is available today to help Indian traders better manage their resources and cash flow. By embracing the adoption of innovative payment technologies such as Near Field Communication (NFC), contactless and mobile solutions, they can offer a transaction experience that is safe, simple and smart, as well as create rich opportunities to acquire, retain, and grow their relationships with customers through targeted loyalty programs. Increasingly, people’s lives have become digital as technology like the Internet and mobile phones become more prevalent and easily accessible, and traders must consider adopting digital payments if they want to build a successful business.”

Small and medium businesses play a vital role in the growth of the Indian economy and the unincorporated sector comprises of more than 57.7 million businesses establishments. By empowering them with knowledge of advanced payments technologies, MasterCard and CAIT seek to contribute to the continued modernization of the trading sector through the promotion of digital commerce and skills training.

For monitoring a nationwide campaign, the CAIT has formed a committee under the chairmanship of its National President Mr. B. C. Bhartia that will organize workshops, seminars and other activities in various cities.

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

About CAIT

The Confederation of All India Traders (CAIT) is an apex body of trading community of India comprising of more than twenty thousand Trade Associations and Federations across the Country as its affiliates. The CAIT came into existence in 1990 with an aim and objective of the development of trade and traders in the country and has brilliantly evolved the understanding and co-ordination amongst traders throughout the world. It has through its vast national network has undertaken various issues affecting the native trade and worked as the worthy bridge between the Trade and other stakeholders including community, State and others. It endeavoured to contribute in mitigating the hardship posed by Sealing, and other measures at national level and found acceptable solutions.

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