Worldline (Euronext: WLN), a global leader in payment services, today announced its partnership with India’s leading payment aggregator, Mswipe Technologies, to offer Brand Equated Monthly Instalments (EMI) as a value-added service that enables businesses to provide No-Cost EMI financing from several leading brands on Worldline Android Smart POS devices across the country.
This partnership will enable Worldline and Mswipe to work together in helping their partners increase sales through attractive checkout offers to their customers. It will also help them to avail mid- and high-value purchases at retail outlets powered by Worldline Android Smart POS machines.
Vishal Maru, Executive Vice President, Financial Institutions, Worldline India, commented: “Consumer demand across different product and service categories are increasing. But when it comes to purchasing somewhere a latency sets in, when the customer sees higher cost of product while purchase. The need to offer accessible and affordable finance is extremely important for businesses today. We are happy to partner with Mswipe to offer Brand EMI service which is popularly referred as No-Cost EMI and this value added service will help businesses not only to provide seamless payment experience but will benefit them immensely in maximizing their sales.”
Mr. Ketan Patel, CEO, Mswipe Technologies said: “As India becomes more globalized, technologically advanced and economically prosperous, consumer lifestyles are constantly evolving. Indian consumers are becoming more aspirational and are looking for flexible payment options, such as Brand EMI, that allows them to spread their purchases over a period of time. We are excited to collaborate with Worldline India to extend our tech enabled EMI solutions to their merchant base and help fulfill their aspirations of new India. This partnership will help both the brands reach a larger base of merchants and contribute to the digital growth journey of India. Through this partnership, we aim to democratise high-value purchases, while enabling our merchants to increase their sales through yet another value-added services.”
Worldline and Mswipe have seen that the Brand EMI options are popular across Mobiles, Electronics, Clothing, Beauty Spas, kitchens, Households, Furniture, and Automobiles. With tie-ups across all the leading banks, this partnership will offer EMIs through various payment modes like credit and debit cards and from Buy Now Pay Later providers in India.
The Brand EMI service will drastically improve the average transaction value and upgrade the products purchased with suitable financing options. It will help partners to maximize their sales. Among the other benefits, it offers a user-friendly and superior UI/UX interface for partners to integrate and list different offers from all the brands in one place.
In India, Worldline offers one-stop shop for all payment needs – In-store payments, Online payments, and Omnichannel Payments. Worldline covers the whole payment value chain and end-to-end processes that facilitate services to over 1.5 million merchants across 5000 towns and cities in India.