Payswiff, Mastercard part­ner to push dig­i­tal pay­ments in small cities

Payswiff’s SET, a mo­bile ap­pli­ca­tion, is at the core of the al­liance

The Hindu Business Line - - IT & TELECOM -

To speed up adop­tion of dig­i­tal pay­ments, Mastercard and Payswiff So­lu­tions have signed an al­liance that will cut across non-tra­di­tional dis­tri­bu­tion chan­nels to pro­mote low-cost pay­ments ac­cep­tance so­lu­tions be­yond the top eight cities in the coun­try.

Payswiff’s SET, a mo­bile ap­pli­ca­tion, is at the core of this al­liance.

The app al­lows in­di­vid­u­als and busi­ness own­ers to ac­cept pay­ments us­ing more than 60 pay­ment op­tions, in­clud­ing credit cards and debit cards, e-wal­lets, epay­ment links, UPI, Bharat QR, multi-bank EMI.

The ap­pli­ca­tion can be down­loaded on Google Play­store as well on Ap­ple’s App Store.

It of­fers pa­per­less mer­chant on board­ing in less than 15 min­utes on all Point of Sale (PoS) de­vices, ac­cord­ing to a press re­lease.

Omni-chan­nel strat­egy

Mastercard will work with Payswiff on an Omni chan­nel dis­tri­bu­tion strat­egy to pro­vide the app, ser­vices and sup­port in re­gional lan­guages, es­pe­cially in ar­eas where Point-of-Sale (PoS) ma­chines are not eas­ily ac­ces­si­ble. Over 40 per­cent of Payswiff’s busi­ness comes from small towns and cities.

Ex­pan­sion plans

The Hy­der­abad-based, Payswiff plans to ex­pand its ser­vices to over 3,000 lo­ca­tions in ru­ral In­dia, up from 1,700 lo­ca­tions as of now, ac­cord­ing to Priti Shah, Co­founder and Chief Ex­ec­u­tive Of­fi­cer (CEO).

Ra­jeev Ku­mar, Se­nior Vice-Pres­i­dent, Mar­ket De­vel­op­ment, South Asia, Mastercard said that the part­ner­ship will al­low small mer­chants across the coun­try to ex­pe­ri­ence the con­ve­nience, safety and se­cu­rity of dig­i­tal pay­ments.

Aided by the Gov­ern­ment’s push to­wards Dig­i­tal In­dia, Mastercard re­cently an­nounced an am­bi­tious goal of bring­ing 10 mil­lion mer­chants into dig­i­tal pay­ments fold by 2020.

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