VISA joins with State to transform Vizag into the world’s ‘less-cash’ city

Tuesday, June 6, 2017 
Visakhapatnam

VISA has joined hands with the State government to transform Visakhapatnam into the world’s first ‘less-cash’ city in a year.

Visa has been mandated to leverage its expertise form other markets to develop blueprint for the transition as part of the ‘Project Digital Sankalp’. The company already inked an MoU with the government to set up a facility in the city.

According to Special Chief Secretary and IT Adviser to the Chief Minister J.A.Chowdary, Visa has appointed McKinsey and Company to assist in developing the blueprint. IT Minister Nara Lokesh will attend a meeting with Visa on Wednesday. The city has per capita penetration of POS at 273 compared to India’s median at 489. Visa will make an attempt to achieve a per capital level of 20.

Visa also plans to set up a steering committee with the active participation of the CMO’s office and key stakeholders in the city so as to make Visakhapatnam the role model in campaign for digitization. There is a proposal to involve the Bill and Melindia Gates Foundation such as Indian School of Business for building a ‘less-cash’ movement. A team of consultants will be appointed to guide the steering committee.

Visa will also partner with GVMC, INS Kursura museum, APSRTC, AU, RTO office, common service centres such as e-seva and traders at the railways station.