Wirecard is offering a technology to Skilworth Technologies Private to enable the company to launch its white-label mPOS solution in the Indian market.
Known as "Bijlipay", the distribution of mPOS solution will start in September, following a successful initial rollout at select retailers in Southern India over the past few weeks.
Chip-and-pin technology based Bijlipay is one of the first certified mPOS solutions in the Indian market, which will allow small and medium-sized retailers in the travel, transport, gastronomic and retail industries to accept credit and debit card payments using their own smartphone.
Skilworth Technologies has teamed up with Indian Overseas Bank (IOB), the local acquiring bank for Bijlipay card transactions.
Wirecard has offered Bijlipay with a fully certified white-label end-to-end platform for chip-and-pin mPOS services.
This allows integration of chip-and-pin terminals and terminal management, mobile applications and merchant management as well as card acquiring processing and fraud management.
Bijlipay CEO Pavan Kachibhatla said: "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.
"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."