Demonetisation: Street vendors to go cashless
New Delhi, Dec 15: Faced with plunging revenues post the government's demonetisation drive, a street vendors' forum today tied up with a mobile wallet company to train vendors go digital and tide over the cash crunch due to the exercise.
National Association of Street Vendors of India (NASVI), which claims to represent more than 30 lakh vendors across India, announced the decision here to tie up with MobiKwik, a mobile wallet and online payment system company.
"Ever since demonetisation was announced the revenues of our vendors have plummeted. We see the association as an opportunity to overcome the cash crisis," NASVI coordinator Arbind Singh said.
Singh said in the coming months the forum will try to transact digitally with wholesale dealers.
"We will also look for ways to make wholesale dealers to go cashless and also seek credit from banks as we will be depositing every rupee in the bank, unlike before," he said. Upasana Taku, MobiKwik's co-founder, said: "Over 10 lakh street vendors will be trained and included in the digital payments in three months."