Reliance Money rolls out kiosks for online trading

In a first for India, Reliance Money will deploy Internet-enabled kiosks for its customers to participate in online trading

Reliance Money, the retail broking company promoted by Reliance Capital (a part of the Anil Dhirubhai Ambani Group), is rolling out 10,000 Internet-enabled trading kiosks in India, It claims that this is the largest deployment of its kind. The kiosks will offer all the trading services that are available to online customers, and will cover equities, commodities, IPOs, mutual funds and insurance.

Reliance Money rolls out kiosks for online trading

The Reliance web kiosk

In the first phase of the rollout, Reliance Money will install its kiosks in most of its 3,000 centres in 700 cities. In the second phase, the company is planning to enter into tie-ups with retail chains. The company is also hoping to increase its rural penetration, but only in the long run.

The kiosks have been developed by German retail IT solutions company Wincor Nixdorf. Andrew Phay, head of retail, APAC, Wincor Nixdorf, said in a statement, “We see great potential for our products in this country owing to the retail boom, and will continue to introduce the latest products to our customers here.”

Reliance Money is optimistic about the investment market in India, as less than 3 per cent of household financial savings are invested in the equity market.

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