Spice Money introduces voice alerts service inbuilt in the app

By Leandra Monteiro

Spice Money, an Indian rural FinTech that is revolutionising the way Bharat banks, has announced the launch of voice alert functionality inbuilt into the Spice Money application as well as web portal across its merchant outlets.

This move is aimed at ensuring better transparency for both merchants as well as customers. As soon as a rural citizen makes a transaction at a Spice Money Adhikari (merchant/nanopreneur) outlet, the voice feature announces the amount of transactions done. This makes the user aware of the successful transaction done thereby enabling a secure and transparent digital transaction.

The launch of the inbuilt voice alert functionality is a step towards building trust in digital financial solutions in rural India. It enables rural citizens to safely conduct transactions while getting a system-generated on-spot voice alert that spells out the amount of money transacted, thereby ensuring transparency and peace of mind, while also instilling a sense of trust. The automated voice alert will also help in instilling more confidence for digital transactions thereby increasing footfalls at a merchant’s store.

Speaking on the launch, Sanjeev Kumar, Co-founder & CEO, Spice Money, said, “Spice Money has been leading the digital banking revolution in 18,500 pin codes across the length and breadth of the country, with the help of our 1 million strong Adhikari network. We have always been committed towards creating an environment of trust and transparency to induct the underserved rural population into the digital ecosystem. In this regard, the voice alert functionality that we have introduced will create greater clarity for both merchants and customers, with on-spot voice notification for all transactions. I am confident this will further enhance the environment of trust, and encourage more people to transact digitally.”

Spice Money is the first ever FinTech in India to introduce the voice functionality feature for assisted payments and cash withdrawal at zero cost for its merchants (Adhikari). With a strong foothold in rural India, Spice Money covers more than 2,50,000 villages, 700 districts and 5,000 blocks, bringing basic banking facilities to the doorsteps of the communities residing in these regions.