The media reported that Worldline and SignCatch have established a partnership relationship.
Source: Pixabay.com
The cooperation of these companies is aimed at providing Indian merchants with tools that will allow them to develop their business in a digital format. As part of the implementation of the partnership program the Worldline payment technology and the Bech super app platform from SignCatch, which was developed for wholesalers, retailers, and brands, will be combined.
Worldline and SignCatch have not yet commented on the reports about the beginning of cooperation.
With the help of the Point of Sale Digitization Program (MDP), Worldline and SignCatch plan to register 100 thousand outlets in India within three months after the start of the interaction. Retail stores, restaurants, and grocery stores will be registered. As a result of registration, these objects will be able to implement a digital payment system in a simplified mode and ensure their presence in the online space.
The MDP project is the result of a collaboration between the two companies, which was announced last year. This is stated in the report of Vishal Maru, executive vice president for the financial institutions of Worldline of India. This project covers a network of more than a million retail outlets across India. The creators of MDP intend to expand the scale of interaction with partner banks and their sales representatives.
SignCatch’s Bech platform provides built-in billing, shopping, and marketing tools, and a Worldline payment package.
The report by SignCatch founder and CEO Sumit Duggal states that the partnership represents the start of a new stage in the process of digitalization of small enterprises in India. The local e-commerce market is one of the fastest growing in the world. At the end of 2021, the total volume of sales in the virtual space in this country amounted to $ 67 billion. Studies show that 88% of adults in India use mobile wallets.
Foreign companies such as Amazon and eBay are actively implementing strategies to ensure a stable presence in the Indian market. The presence of these giants allows local merchants to efficiency sell goods domestically and abroad.
SignCatch launched the Bech super app, designed for Indian retailers, in 2021. Then the company announced cooperation with hundreds of small stores and stores for moms and dads.
As we have reported earlier, BNP Paribas Selects Worldline to Reduce Iban Fraud in Sepa Direct Debits.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
