Leading global electronic payments provider, EuronetWorldwide has announced the creation of a strategic partnership with the fastgrowing and leading e-commerce player in India, Flipkart. As part of thepartnership, Euronet will assist Flipkart in distributing digital gift codes.
As a result of the partnership, Indian consumers will soonbe able to purchase digital gift codes through their bank’s online or mobilebanking platform and receive the virtual gift cards instantly via their emailaccounts or through a text message through to Euronet’s electronic transactionprocessing services.
Commenting on the partnership, Himanshu Pujara, ManagingDirector of Euronet India said, “E-commerce is an exploding business category. Globally,Euronet provides innovative payment alternatives that allow consumers theability to purchase digital gift codes on a wide array of channels, in order tomake purchases on various e-commerce sites. In India, Euronet has been apioneer in processing digital content and is working actively with all themobile operators and direct-to-home providers in the country for renderingservices to a multitude of channels. We are excited to foray into this growingsegment and leverage our omni-channel distribution capabilities in thisarrangement with Flipkart. This solution is now live with one of the largestprivate sector banks in the country and is expected to go live with a few more overthe next couple of months.”
While perhaps not as attractive as other e-commerce marketslike China due to the fact that the majority of Indian consumers are not onlineor banked, Euronet is well positioned through the partnership with Flipkart togain from the changing landscape as each year millions of Indian consumers gainaccess to the internet and join the ranks of the banked proving millions of newcustomers for the newly launched digital gift codes.
Overview by Tristan Hugo-Webb, Associate Director, International Advisory Service for Mercator Advisory Group
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