Vakrangee Ltd launches domestic money transfer at its Nextgen outlets

Vakrangee Limited, one of the world's largest franchisee-based, multi-service retail networks, has announced the launch of its Domestic Money Transfer service in partnership with Eko India Financial Services Pvt Ltd, an authorised Prepaid Instrument License holder from RBI, through its nationwide network of Nextgen Vakrangee Kendras. These Nextgen Vakrangee Kendras offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance, Financial services and logistics.

This Domestic Money Transfer service can be availed across Vakrangee's nation-wide franchisee network of Nextgen Vakrangee Kendras. Vakrangee has already launched these Nextgen Kendras in the Mumbai Metropolitan Region (MMR) and National capital region (NCR). The Company further plans to launch 3,000+ NextGen outlets across 20 states.

Vakrangee which is considered a pioneer of the asset-light franchisee-based business model in the country intends to upgrade its network of Nextgen Vakrangee Kendras to 45,000 Kendras by 2019 and further increase it to 75,000 by 2020.

Dinesh Nandwana, MD & CEO, Vakrangee Ltd, said, "With this launch, we further empower our franchisee family to complement their bouquet of offerings to their customers at Nextgen Vakrangee Kendras. Our franchisees can now enhance their revenue stream by undertaking money transfer service universally to all their customers without any restriction on bank network or their geographical location. At the same time, to our Partners, it would give them unparalleled distribution reach via our strong network of Nextgen Kendras across the length and breadth of the country."