With the help of Visa Inc, Vizag will be first cashless city in Asia..!!

VISAKHAPATNAM: If everything goes according to the plans of state government, the vizag will soon become Asia’s first cashless city with help from Visa.
A team from Visa will visit the city in this week to hold meetings with all its stakeholders . They will also meet district collector Pravin Kumar for future plans .

For this meeting ,some of the stakeholders who are likely to attend are Eastern Power Distribution Company of AP Limited (APEPDCL), Greater Visakhapatnam Municipal Corporation (GVMC), corporate hospitals, AP State Road Transport Corporation, tourism department, hotels, cinema theatres and others.
According to the sources, AP special chief secretary (IT) JA Choudary said, “The project will introduce a digital payment system that is likely to increase cashless transactions by almost five times. The government aims for at least 80% transactions through debit and credit cards.”
He further said that the state government undertook the initiative along with Visa due to the latter’s global financial inclusion efforts that aim to provide a digital payment system to every citizen of the state.

“A person will be given a smart card which will be linked to all the transaction accounts maintained by him/her. This card can be used to pay merchants anywhere and the amount will be automatically deducted from the person’s account,” he added.

Meeting would likely to be hold on June 7th of this week.

This was found in MVP Raithu Bazar , This shows the awareness about digitalization in vizag citizens.

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