Embrace digital payments with RMgX's Cardinal Smartphone app

RMgX, a New Delhi-based digital innovation firm on Friday announced the launch of its smartphone app, Cardinal to facilitate payment through debit and credit cards, via digital wallets.

The surge towards a cashless economy in this country has been on a steady rise. Based on the Reserve Bank of India's data, there are around 430 million cards in circulation and total monthly expenditure is more than 450 billion rupees.

Post demonetisation, the growth of digital payments has spiked. However, while making digital payments, it is difficult to track offers available on their e-wallets. Cardinal helps solve this problem by telling its users about the offers running in their vicinity on their cards and digital wallets. Cardinal can also help a user decide the best card to use at a location for maximum savings, and even a place to spend, based on the offers on their cards.

Moreover, an AI(artificial intelligence) backed algorithm is under process, which will give the capability to continuously learn about a user's visit patterns and can even suggest the deal based on his/her habits.

On an average, based on a lifestyle pattern and using conservative estimates, a user of Cardinal can save up to Rs. 2,500 - 5,000 per month by using the right card at the right place.

"Cardinal's mission is to make its users Card-Smart by helping them use the digital instruments to their benefit. Every time they think of spending, they can reach for Cardinal," said Nishant Varshney, Founder of RMgX.

"Cardinal creates a win-win for card users, banks and merchants; since by recommending the right offer to the user, Cardinal helps them save while increasing transaction volumes for the banks on their products and sales/footfall for the merchants running those offers," he added.

Cardinal is currently available on Android and will be available on iOS shortly.