Worldpay, the global leader in payments has partnered with IndusInd Bank Limited to offer domestic acquiring services in India.
The association will assist both companies in processing customers’ payments and marks the first step for Worldpay in entering the Indian market - a result of the growth in eCommerce across the country.
Worldpay opted to partner with IndusInd Bank due to its forward thinking approach and ability to be both innovative and agile. Worldpay already offers local acquiring across 45 countries and by having a partnership in India, the company will be able to acquire Indian merchants domestically.
UK-based airline, British Airways, has recently moved its acquiring in India to Worldpay, meaning the majority of its global acquiring is supported by Worldpay and Indian volume will be processed through IndusInd Bank. Neville Stone of IAG Corporate Services explains: “Having multiple suppliers globally can pose challenges for accurate reporting and visibility over finances. By using Worldpay - a trusted partner in the majority of countries in which we operate - we have ensured the full automation of processes, removing pressure on our back office functions and also allowing us to reconcile with ease, making planning and forecasting straightforward.”
Ron Kalifa, Deputy Chairman at Worldpay explains: “India’s increase in card use has meant that more of our customers are looking to expand operations in the country. Historically, global merchants looking to move into India had to use domestic payment operators, which can increase costs and make it difficult for merchants to gain full visibility of their global payment activity. By continually expanding, we can offer our customers the ability to take payments in 120 currencies across the world, simplifying global acquiring.”
Ramesh Ganesan, Head of Transaction Banking at IndusInd Bank said: “We are delighted to offer eCommerce acquiring services in India in association with Worldpay. We are confident that the association will help both organisations to contribute to the growth of the ever growing Indian eCommerce industry. This partnership will allow each company to benefit from the other’s respective expertise in domestic and international payments thereby helping in promoting online payment services in India.”
By using Worldpay’s global acquiring services, merchants can improve the visibility of their entire payment acceptance value chain by managing their local and international payments centrally. Insight from transactional data can be used to identify where transaction success lies so these opportunities can be maximised to increase sales volumes. As it can be split by region, payments can be optimised to a particular market, to cater to local trends. With support from Worldpay’s customer performance teams this data can also be used to enhance customer experiences, helping merchants to win in the competitive eCommerce market.