E-commerce giant of India, Flipkart, has entered into a tie-up with Euronet India for electronic transactions and payments, a company spokesperson confirmed on Tuesday, without providing further details as to how much commission needs to be paid to the third-party in the transaction.
“The partnership felicitates Euronet to distribute digital gift codes as payment instruments to our registered users to purchase products online as an alternative to offline transactions,” the spokesperson said quoting from an Euronet statement.
Himanshu Pujara, Managing Director of Euronet India had earlier said, “e-commerce is an exploding business category. Globally, Euronet provides innovative payment alternatives that allow consumers the ability to purchase digital gift codes on a wide array of channels, in order to make purchases on various e-commerce sites.”
InIndia, Euronet was a pioneer in processing digital content and is partnering actively with mobile operators and direct-to-home providers for rendering services to clients.
“We are excited to foray into this growing segment and leverage our omni-channel distribution capabilities in this arrangement with Flipkart. This solution is now live with one of the largest private sector banks in the country and is expected to go live with a few more over the next couple of months,” he said.
“Our customers are at the core of every conception,” said Mausam Bhatt, Sr. Director – Marketing, Flipkart. “Gift cards is a growing category in India and we are happy to have Euronet as one of our partners in this space. Indian customers will now be able to avail of this extremely user friendly instrument to purchase products and services offered on Flipkart using a variety of unique bank channels that Euronet powers today. This initiative will not just help in bringing new customers on-board but can also potentially bring greater efficiency and scale in existing operations.”
The US-based Euronet facilitates payments the world over and serves as a link among its partners, including financial institutions, retailers, service providers and end-consumers locally and globally.
The tie-up also enables Flipkart customers to gift the digital codes to others or use them to purchase goods for their consumption. “Through our e-transaction processing link, consumers can use their banking portals and mobile applications to buy the digital codes that will be delivered to their e-mail accounts or via a text message,” the statement noted.