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Worldline and NPCI International to empower mobile payments for Indian tourists in Europe

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Ritesh Shukla, CEO of NIPL (left) and Marc-Henri Desportes, Deputy CEO of Worldline (right)

 

The collaboration will see Worldline become the first EU acquirer to offer Unified Payments Interface (UPI) and RuPay, two products of the National Payments Company of India (NPCI), to European merchants whilst providing an opportunity for them to build on their Indian customer base

Worldline [Euronext: WLN], a global leader in payments services, has joined forces with NPCI International Payments Ltd. (NIPL), the international arm of National Payments Corporation of India (NPCI) – the driver of digital payments in India – in a move to expand the acceptance of Indian payment means across Europe.

As part of the partnership, Worldline will bring more convenience for Indian customers in the European markets by allowing merchants’ point-of-sale (POS) systems to accept payments from UPI, an instant real-time payment system, as well as RuPay, NPCI’s proprietary card payment network solution. This will result in a multitude of customer-related merchant benefits due to an increase in footfall and spending from Indian tourists.

Currently, customers from India pay through international card networks. However, the hugely popular United Payments Interface allows multiple bank accounts to be accessed through one single mobile application. This, in turn, will enhance customer experience whilst opening up new business prospects for merchants.

Facilitated via Worldline QR, the company’s universal product for the acceptance of all QR-based payments, the first target markets for NIPL are set to include BENELUX and Switzerland with further plans for expansion, as Worldline QR is rolled out in more European countries.

India is one of the most important tourist markets for Europe with an estimated 10 million Indians travelling to the region each year prior to the pandemic, according to Schengen Visa. Now, as the impacts of COVID-19 begin to subside, that number is expected to significantly increase.

Marc-Henri Desportes, Deputy CEO of Worldline, said of the initiative: “Our analyses of international customers’ payment behaviour have indicated a push away from international card schemes in recent times, and a preference for any mobile payment method they are acquainted. Our partnership with NPCI International seeks to mitigate the risk of excluding or limiting Indian customers from safely using electronic payments in the EU.”

In 2021, NPCI’s UPI recorded 38.74 Billion transactions, worth USD 954.58 Billion, making it the best performing real-time payment eco-system in the world. Similarly, 714 million RuPay cards have been issued till date, clocking over 1.3 billion transactions.

Mr. Ritesh Shukla, CEO, NIPL said “In Worldline, we found a partner that provides us with good coverage of the European markets as well as an advanced and universally applicable solution. The roll-out of acceptance of UPI-powered Apps and RuPay Cards across Europe is important to us, as we expect increased mobility of Indians in the continent in the coming years. We believe this partnership will empower Indian consumers to continue using their preferred payment modes as they travel across Europe.”

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Tata Motors partners with IndusInd Bank to offer exclusive Electric Vehicle Dealer Financing

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Key Highlights:  

  • One-of-its kind Electric Vehicle Inventory Financing program for Tata Motors’ dealers 
  • Limits extended towards EVs will be over and above regular dealer finance limits for Internal Combustion Engines (ICE) 
  • Attractive special pricing  
  • Additional limit to cater in peak seasons, can be extended 2 times in a year 

In its effort towards increasing EV adoption in the country, Tata Motors, India’s leading automotive manufacturer, today announced that it has joined hands with IndusInd Bank to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers. Under this scheme, IndusInd Bank will provide additional inventory funding with attractive pricing to authorized passenger EV dealers of Tata Motors. This additional inventory funding would be over and above the ICE finance limit of the dealers. Repayment tenure will range from 60 to 75 days. Furthermore, IndusInd Bank will also offer additional limit to cater to high demand phases, which will be available to dealers 2 times in a year.

The MoU for this partnership was signed by Mr. Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank Ltd.

Commenting on the rollout of this offer, Mr. Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. said“As we move along towards our aim of electrification and green mobility, we are ecstatic to partner with IndusInd Bank to assist our authorized electric passenger vehicle dealer partners with an exclusive financing program. Our dealer network is one of our core support pillars and through their constant efforts we have been able to ride the electrification wave in India. We are positive that through this tie-up, we will make EVs more accessible and the EV buying process, a seamless and a memorable experience for our customers.” 

Speaking of this partnership, Mr. Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank Ltd., said, “As a bank with sustainability at our core, we are extremely delighted to partner with Tata Motors, one of India’s leading automotive brands, to offer an exclusive electric vehicle dealer financing program for authorized passenger EV dealers of Tata Motors. We are proud to partner with the segment leader in the journey toward a sustainable future. Through this tie-up, we are also looking forward to expanding our base into new consumer segments and be a bank of choice providing solutions to meet all banking requirements of the customers.” 

Tata Motors has been pioneering the Indian automotive market with its groundbreaking efforts, and is currently leading the e-mobility wave in India with a commanding market share of 89%, with over 50,000 EVs produced till date in personal and fleet segments.

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astrantiaPay Selects SaaScada to Enrich Swiss Landscape of Business Payments and Fill Market Gap

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Swiss financial firm, astrantiaPay, to use SaaScada’s cloud-native core banking engine to simplify cross-border payments for SMEs and facilitate international trade and services across the old and new economies

 Cloud-native core banking engine, SaaScada, today announced it was selected by astrantiaPay to launch a Swiss point of contact for international businesses looking to open and run corporate bank accounts in Switzerland. Once regulatory approval is in place, astrantiaPay will provide mission-critical payment services to sophisticated Swiss, European, and global companies.

“Promoting SMEs is high on the agenda of policymakers, but the reality is very different when dealing directly with banks. In fact, financial institutions often show little or no appetite for low-margin, labour-intensive company accounts with regular cross-border payments”, explains Lukas Wissner, CEO of astrantiaPay. “As a result, opening and maintaining corporate bank accounts can become a complex and costly procedure, posing a real challenge for Swiss and European start-ups and established businesses. This can hinder growth, and sometimes even threaten a company’s existence. Ultimately, corporate bank accounts with a foreign nexus are an underserved niche segment in the Swiss financial ecosystem which is historically dominated by asset managers and private banking.”

SaaScada is an industry-proven core banking system that unlocks trapped customer value, mitigates risk, and drives real-time data insights. It was founded from a desire to provide first-class financial services capabilities for everyone. SaaScada’s configurable product features and transactional ledgers can be connected to any payment scheme, gateway, channel, or FX provider. Its event-driven architecture will provide astrantiaPay with a real-time stream of events for each company account.

“SaaScada’s experience and deep understanding of how to execute a bank in the Swiss financial and regulatory landscape convinced us,” concludes Lukas Wissner. “Looking back, SaaScada was the right starting point on our integration journey, as its experienced team of programmers readily enable open API connections to virtually any data source and endpoint; be it software tools for onboarding, client relationship management (CRM) and transaction monitoring (TM), or accounting systems, payment aggregators and international correspondent banks. Leveraging SaaScada’s proficiency and infrastructure has helped us create an organic whole.”

“Lukas Wissner and the team at astrantiaPay have a distinct vision to make bank account opening simpler for international SMEs,” explains Nelson Wootton, Co-Founder and CEO at SaaScada. “SaaScada is delighted to support astrantiaPay in driving financial inclusivity for its customers, solving complex compliance challenges, and enabling SMEs to thrive.”

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