NewsVoir | 20 May, 2015
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 customersâ payments and marks the first step for Worldpay in entering the Indian market â 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: âHaving multiple suppliers globally can pose challenges for accurate reporting and visibility over finances. By using Worldpay â a trusted partner in the majority of countries in which we operate â 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.â
Ron Kalifa, Deputy Chairman at Worldpay explains: âIndiaâs 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.â
Ramesh Ganesan, Head of Transaction Banking at IndusInd Bank said: âWe 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 otherâs respective expertise in domestic and international payments thereby helping in promoting online payment services in India.â
By using Worldpayâs 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 Worldpayâs customer performance teams this data can also be used to enhance customer experiences, helping merchants to win in the competitive eCommerce market.
For more information please contact
The Worldpay eCommerce Press Office
WorldpayeCommTeam@Golin.com
About Worldpay:
Worldpay is a leading global provider of payment and risk services, processing millions of transactions every day. Worldpay is a unification of seven leading retail payment solutions and offers a range of services including acquiring, gateway, alternative payments, risk management, and mobile payments. Worldpay became an independent company in December 2010. www.worldpay.com
Twitter: @Worldpay
Facebook: www.facebook.com/worldpay
About IndusInd Bank:
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on March 31, 2015, IndusInd Bank has 801 branches, and 1,487 ATMs spread across 514 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi.
It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013, was included in the NIFTY 50 benchmark index. IndusInd Bank is ranked 19th amongst the Top 50 Most Valuable Indian Brands 2014 as per the BrandZ Top 50 rankings powered by the WPP and Millward Brown.
Ratings:
- ICRA AA+ for Lower Tier II subordinate debt program by ICRA
- ICRA AA for Upper Tier II bond program by ICRA
- CRISIL A1+ for certificate of deposit program by CRISIL
- CARE AA+ for Lower Tier II subordinate debt program by CARE
- IND A1+ for Short Term Debt Instruments by India Ratings and Research
- IND AA+ for Lower Tier II subordinate debt program by India Ratings and Research
- IND AA for Upper Tier II bond program by India Ratings and Research
- IND AA+ for Senior bonds program by India Ratings and Research
Twitter - @MyIndusIndBank
Facebook - www.facebook.com/OfficialIndusIndBankPage
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