Mumbai, India – April 09, 2020
Unprecedented times call for extraordinary measures. The 21-day lockdown underway across India due to the dreaded Coronavirus outbreak has led to citizens grappling with accessing several services. CMS Info Systems, India’s largest cash and payments solutions company, is offering ‘Cash2home’, an innovative and free doorstep cash delivery service to help senior citizens and disabled get cash safely at home without needing to step out.
CMS’ ‘Cash2home’ is aligned with the Reserve Bank of India’s vision of offering doorstep banking to the elderly and senior citizens that was articulated late last year and recently reiterated in a circular on March 31st, 2020. Given the timing of the lockdown and the salary and pension period as well as Govt’s DBT payments, this service can be immensely helpful in a critical period.
Commenting on this initiative, Rajiv Kaul, CEO and Exec Vice-chairman, CMS Info Systems, said, “It’s imperative that vulnerable sections in our society are protected in these times and we felt an urgent need to create this service. Our goal is to ensure safe availability of cash during any crisis. All of us are concerned about the wellbeing of our families, especially our parents and older relatives. Access to essential goods and services for them is our collective responsibility. Having access to cash is an important psychological safety net. We are able to provide this service with the strong support of our 20,000 employees and associates, who have rallied together in 24 hours to help us launch this service. We are adding more and more banking partners to make this service available to as many citizens as possible soon”.
The introduction of ‘CMS Cash2Home’ couldn’t be at a better time of the month when most citizens need cash to pay their bills, access monthly salaries and clear dues. More importantly, it also enables contactless access to cash for senior citizens who need to be protected most in today’s threat of a community spread of the virus. Previously, CMS in 2016, during Demonetization, had launched a ‘CMS ATM Finder’ app to help citizens find ATMs nearby which had cash available.
To avail of ‘Cash2home’, customers can access the list of all partner banks on https://www.cms.com/. CMS is initially rolling out the service across 50 locations in all key states, which will soon be expanded to over 125 locations all over India. CMS is being supported by DISTA India, an AI enabled location intelligence platform, to deliver this service efficiently.
CMS expects up to 5 lakh citizens may be able to avail this service and with an average transaction size of INR 10,000, the total amount which could be disbursed through this, could be to the tune of INR 500 Crores.
CMS Info Systems Ltd. (CMS) is India’s leading Cash Management and Payment Solutions company, that handles cash processing to cash-in-transit, from cards to ATM network management, retail management and managed services. CMS manages the entire flow and management of money for the 115,000 ATM and Retail Points that it serves every day. The company was formed in 2009 following an investment by The Blackstone Group to acquire a majority stake in certain key businesses of CMS Computers. In 2015, Asia’s largest PE firm, Baring PE Asia acquired a 100% stake in CMS Info Systems. For more information, please visit: www.cms.com