Wirecard Introduces its mPOS Solution to the Indian Market
MUNICH, July 31, 2014 /PRNewswire/ --
- Cashless payments with Bijlipay
- PCI certified chip-and-pin terminals
- Cross reference: Picture is available at epa european pressphoto agency (http://www.epa.eu) -
Wirecard AG is providing the technology for Skilworth Technologies Private Limited to introduce its innovative white-label mPOS solution to the Indian market under the brand "Bijlipay". The Nationwide distribution of Bijlipay will start in September, following a successful initial rollout at selected retailers in Southern India over the past few weeks.
Bijlipay is one of the first certified mPOS solutions based on chip-and-pin technology in the Indian market and enables small and medium-sized retailers in the travel, transport, gastronomic and retail industries to accept credit and debit card payments via their own smartphone.
Skilworth Technologies Private Limited is headquartered in Chennai and partners with Indian Overseas Bank (IOB), the local acquiring bank for Bijlipay card transactions. Wirecard has provided Bijlipay with a fully certified white-label end-to-end platform for chip-and-pin mPOS services, integrating chip-and-pin terminals and terminal management, mobile applications and merchant management as well as card acquiring processing and fraud management.
Pavan Kachibhatla, CEO at Bijlipay commented: "Conventional point-of-sale terminals did not prove to be economically viable for the majority of the Indian market, but with Bijlipay we are now able to offer retailers a cost-effective alternative to securely accept cashless payments." Kachibhatla continues "Demand is already strong from initial marketing in Tamil Nadu and we are expanding our support base rapidly to cover nationwide expansion in the coming months. Wirecard's proven platform provided us with the quickest route to market and was easily customised to provide us with a product that is tailor made for India."
"India is experiencing an incredible growth in card payments," Jörn Leogrande, Executive Vice President Mobile Services, at Wirecard, explains. "Furthermore India is already the third-largest market for smartphones after the USA and China, and has the biggest growth rates in this regard. The high density of smartphones alongside a growing proportion of cashless payments creates an excellent opportunity to introduce mPOS in India. We are looking forward to extending this and other services nationwide in partnership with Bijlipay."
Wirecard AG is one of the world's leading independent providers of outsourcing and white label solutions for electronic payment transactions. The Wirecard Group has been supporting companies in accepting electronic payments from all sales channels. A global multi-channel platform bundles international payment acceptances and methods, supplemented by fraud prevention solutions. When it comes to issuing their own payment instruments in the form of cards or mobile payment solutions, Wirecard provides companies with an end-to-end infrastructure, including the requisite licenses for card and account products.
Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI).
Bijlipay is the go-to-market brand of Skilworth Technologies Private Limited, headquartered in Chennai, India. Bijlipay is creating new and innovative payment solutions for emerging markets like India. In partnership with some of India's leading public sector banks, Bijlipay is poised for tremendous growth in one of the World's largest markets for financial services. With deep knowledge of the Indian marketplace and a team of globally experienced payments professionals, Bijlipay is set to change the payments landscape in the region.
Bijlipay Media Contact:
Skilworth Technologies Private Limited
'bijli house', Type II/15, Dr. VSI Estate,
Old Mahabalipuram Road, Thiruvanmiyur, Chennai- 600041, Tamil Nadu
SOURCE Wirecard AG
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