Deals19 Aug 2024, 07:50 pm
CWD Limited Signs INR 100 Crore Deal with PhonePe for Sound Box Device Manufacturing
AI Summary
CWD Limited, an Information Communication Technology company, has signed a Master Supply Agreement (MSA) with PhonePe, one of India's leading fintech companies. The two-year deal is valued at INR 100 crores, under which CWD will design, develop, and manufacture the innovative Sound Box device for PhonePe. The Sound Box, a game-changing payment solution, provides a multilingual audible confirmation of payments, enabling merchants to focus on serving customers without the need to constantly monitor their mobile devices. The collaboration is a significant milestone for CWD and a profound endorsement of the 'Make in India’ initiative, driving financial inclusion and supporting the government's vision of a less-cash economy.
Key Highlights
- CWD Limited signs a two-year Master Supply Agreement (MSA) with PhonePe worth INR 100 crores.
- The agreement involves the design, development, and manufacturing of the Sound Box device by CWD Limited.
- The Sound Box provides a multilingual audible confirmation of payments, enhancing the payment experience for merchants.
- The collaboration is a significant milestone for CWD and a profound endorsement of the 'Make in India’ initiative.
- The Sound Box has already had a significant impact on the fintech ecosystem, with over 14 million devices in use across India.