Online retailer, Flipkart has recently partnered with Euronet India, a secure electronic transaction processing and payment Solutions Company, to distribute Flipkart’s digital gift codes across the country.
The partnership will allow Indian consumers across major banks to use their online-banking portals and mobile banking applications to purchase digital codes which can be delivered instantly via their email accounts or through a text message in a secure fashion, using Euronet’s electronic transaction processing services. These digital gift codes will act as payment instruments for making ecommerce purchases.
This will not only allow them to able to gift these codes, but also use them for self-consumption on Flipkart.
“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 ecommerce sites,” says Himanshu Pujara, Managing Director of Euronet India.
Euronet offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, among others.
“In India, Euronet is working actively with all the mobile operators and direct-to-home providers in the country for rendering services to a multitude of channels. We are excited to foray into this growing segment and leverage our omni-channel distribution capabilities in this arrangement with Flipkart,” he added.
The new 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.
Mausam Bhatt, Sr. Director – Marketing, Flipkart, said, “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.com 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.”
Flipkart currently offers over 20 Mn products across 70+ categories including Books, Media, Consumer Electronics and Lifestyle with about 26 Mn registered users clocking over 6 Mn daily visits.
With corporate headquarters in Leawood, Kansas, USA, and 54 worldwide offices, Euronet serve clients in approximately 155 countries.
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