trust retail, one of the largest retail chains in India, announced plans to accept the digital rupee in all of its hotels after the company successfully rolled out support for the digital rupee in its Freshpik Gourmet line of business, TechCrunch reported.

What happened: The company cooperates with ICICI Bank, Kotak Mahindra Bank and fintech companies Innoviti Technologies Implement support for the Central Bank Digital Currency (CBDC) and offer consumers an alternative payment option in their stores.

Shoppers who choose to use the country’s CBDC, known as e₹-R, will receive a QR code that can be scanned in-store to complete the payment. The dynamic QR code is an essential part of the digital rupee acceptance system.

According to Reliance Retail Director V SubramaniamThe company’s introduction of digital currency payments is consistent with its mission to offer Indian consumers a variety of payment options.

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He noted that this initiative will allow the company to offer another convenient and secure payment method in its stores as digital transactions become more popular among Indians.

The Reserve Bank of India (RBI) outlined its plans for CBDC in October 2022, citing its goal to reduce operational costs of cash management as one of the main motivations for its launch.

RBI launched the wholesale digital rupee pilot program in November 2022 and launched a retail customer pilot program within a closed user group on December 1, 2022.

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