Reliance Retail, India’s largest retail chain, will begin accepting digital rupee retail payments, potentially accelerating the adoption of the country’s recently launched CBDC.
The Mukesh Ambani-led company announced a collaboration with ICICI Bank, Kotak Mahindra Bank, and fintech Innoviti Technologies to launch in-store support for digital rupee. Customers who want to pay with the country’s CBDC (Central Bank Digital Currency), known as e-R, will be given a dynamic digital rupee acceptance QR code to scan at the store, according to the retail giant on Thursday. Reliance Retail, a subsidiary of the Indian conglomerate Reliance, announced that it has begun to support CBDC in its gourmet store line Freshpik and will eventually extend the feature to all of its properties. With the announcement on Thursday, Reliance becomes the largest Indian company to use the digital rupee.
