Posted on 07/31/2014 at 09:09
Wirecard introduces its mPOS solution to the Indian market
Cashless payments with Bijlipay and PCI certified chip-and-pin terminals
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.Download Press Release