Bajaj Finance partners Worldline India for POS payments
The merchant value proposition will allow Bajaj Finance’s 58 million customer base to avail of its various services such as Bajaj Network EMI Card, Bajaj Pay Wallet, Bajaj Pay UPI and Bajaj Coins’ redemption at the point-of-sales outlets
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Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, has partnered with Worldline, a global firm in payment services, to develop point-of-sales (POS) payments acquiring solutions for its merchant network.
With this tie-up, Bajaj Finance Limited aims to enhance its relationship with both existing and new network of merchant partners, by providing point-of-sale terminals and enabling acceptance of a wide range of payment instruments such as equated monthly instalments (EMI) cards, credit cards, UPI and wallets on those terminals.
In addition to the transactional services, the tie-up will provide services like billing integrations, EMI offerings, transactions processing, data analytics and fraud management services, said the firm.
“Worldline, a company with a good experience in the payment ecosystem in India and globally, has been chosen by Bajaj Finance Limited as a technology and service partner to develop and manage their merchant acquiring initiative, which will be present at pan-India merchant locations," according to a press release.
The merchant value proposition will allow Bajaj Finance’s 58 million customer base to avail of its various services such as Bajaj Network EMI Card, Bajaj Pay Wallet, Bajaj Pay UPI and Bajaj Coins’ redemption at the point-of-sales outlets, said the firm.
Rajeev Jain, managing director, Bajaj Finance, said, “As a part of our broader strategy to expand the digital offerings, we forayed into the digital payments business last year to offer an integrated payment solution to customers and merchant partners. Bajaj Finance has been consistently delivering seamless and agile credit solutions to consumers and merchants alike, and this partnership will only help extend our product suite to go beyond credit products to commerce and payments technology across our large and expanding network of merchant stores, spread throughout the length and breadth of the country."
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