Bajaj Finance and Worldline India to develop POS payments solutions

By Pranali Mehta  | Date: 2022-06-21

Bajaj Finance and Worldline India to develop POS payments solutions

Bajaj Finance, the NBFC subsidiary of Bajaj Finserv Limited, has joined forces with Worldline- a global leader in payment services- to create point-of-sales (POS) payments offering effective solutions catering to its merchant network.

Essentially, Bajaj Finance aims to leverage the latest partnership with Worldline to strengthen its relationship with both existing as well as the new network of merchant partners.

In addition to this, Bajaj Finance will provide point-of-sale terminals and enable acceptance and utilization of a variety of payment instruments including credit cards, equated monthly instalment (EMI) cards, UPI, and wallets on these terminals.

Beyond the transactional services, the collaboration will also offer services enabling transaction processing along with billing integrations, data analytics, EMI offerings, and fraud management solutions.

Bajaj Finance is vouching on Worldline’s robust presence in the payment ecosystem of India and across the world, thus opting it as a technology and service partner so that it can effectively develop and manage its merchant acquiring endeavour.

It has been reported that the merchant acquiring initiative of Bajaj Finance will be established at pan-India merchant locations.

Rajeev Jain, Managing Director at Bajaj Finance shed light on the company’s entry into the digital payments business in 2021 to provide an integrated payments solution to its merchant partners and customers in line with its broader strategy to expand digital offerings.

Bajaj Finance has consistently deployed seamless and agile credit solutions for its customers. Now that it has teamed up with Worldline, the firm will only continue to extend the product portfolio.

The primary goal of the NBFC company is to shift focus from credit products only, to acquire expertise in commerce and payments technology catering to its massive network of merchant stores and aim to reach every nook and corner of the country.

Owing to the merchant value proposition, the 58 million customer base of Bajaj Finance will now have access to a range of services including Bajaj Pay UPI, Bajaj Pay Wallet, Bajaj Network EMI Card, and Bajaj Coin’s redemption at the point-of-sales stores.

Source Credit: https://www.livemint.com/companies/news/bajaj-finance-partners-worldline-india-for-pos-payments-11655705396453.html

About Author

Pranali Mehta     aeresearch.net

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta has dutifully walked down the slated path and worked in the chemicals industry for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience...

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