I-cards to turn Infosys campus cashless
Soon, employees at IT major Infosys would be able to use their identity card to make on-campus payments. The company is looking at enabling the identity cards of all its employees to double up as mobile wallets, an initiative started at its Bengaluru campus, but which it plans to expand to other campuses.
So, an employee of Infosys does not need to carry cash or plastic money when she goes to work at the Bengaluru campus. Her ID card will serve for buying food and beverages. According to sources, the project is being piloted by Axis Bank.
“The cashless service provides multiple advantages, both to the user and to the vendor. For employees, it saves time and avoids hassles of providing exact change or carrying around paper receipts. Vendors gain time, with faster turnaround at the counters and direct cash transfers to their accounts. While this service is well-received, we will continue to have both cash and cashless options at our locations,” said Richard Lobo, senior vice-president and head HR, Infosys.
Infosys is not alone. Tech Mahindra in collaboration with ICICI Bank launched a similar facility earlier in the year. Employees of Tech Mahindra would be able to make over-thecounter payments without using cash. The scheme, christened “Tap n Pay”, would give registered clients prepaid accounts into which they can transfer money from any bank account, and operate with Tap n Pay.
Mobile payment is gaining ground among companies. Sources said that a few other companies could also look at launching similar facility for their customers.
“Mobile payment among companies where employees could make payments through their cards is likely to gain more momentum in the future as this enhances convenience significantly,” said a senior executive at a private sector bank.