06
Mar
Merchant Use Case through Programmable CBDC Chandigarh: Bank of Baroda (Bank), one of India’s leading public sector banks, under the guidance of Reserve Bank of India, today announced the pilot launch of a new functionality for merchants built on the “Programmability” functionality of Central Bank Digital Currency (CBDC) – the “Merchant Loyalty/ Cashback Programme” in collaboration with a fintech company. This industry-first initiative enables small and medium merchants to independently design and launch loyalty/cashback programmes for their customers, usually designed by large brands, using Bank of Baroda’s “bob Merchant App”. Merchants such as local retail shops, grocery stores, pharmacies etc…