Reliance Money ties up with DTDC

MUMBAI: Anil Dhirubhai Ambani Group's (ADAG) financial distribution arm Reliance Money today said it has tied up with DTDC to retail its financial products by installing kiosks across the courier major's 4,200 outlets.

Reliance Money, which entered similar kind of tie-up with coffee chain Barista, said this would be a win-win situation for both the companies since the installation of kiosks would increase walk-ins into the DTDC outlets.

"With the installation of kiosks at its outlets, DTDC can leverage increased walk-ins into their outlets while Reliance Money will strengthen its distribution reach," said Reliance Money's Director and CEO Sudip Bandyopadhyay.

He said DTDC would be installing Reliance Moneyweb-enabled kiosks at its own and franchisee outlets across the country.

"The tie-up will facilitate customer acquisition processof Reliance Money and act as partner for both of its trading and financial distribution business," Bandyopadhyay said.
   
Reliance Money had earlier said that it was mulling tie-ups with large retail players with significant footfalls across the country. The customer base of the company has been growing by around 2,000 everyday, he said.

Bandyopadhyay said the company was on the threshold ofimplementing a massive expansion programme, designed to have its footprint in 5,165 tehsils of the country by FY'08.

The company has plans, he had earlier said, to install additional 7,500 kiosks by the end of the financial year and ramp it up to 25,000 in the next two to three years.