Under the partnership, Worldline will support merchants’ point-of-sale (POS) systems in Europe to accept payments from Indian tourists through Unified Payments Interface (UPI) and RuPay platforms.
UPI is an instant real-time payment system, while RuPay is a proprietary card payment solution. Both the platforms are operated by National Payments Corporation of India (NPCI), the parent company of NIPL.
The latest alliance will leverage Worldline QR, which is designed to accept QR-based payments of various types.
It will initially target markets in the BENELUX region and Switzerland. The collaboration is expected to include additional markets once Worldline QR introduces its operations in new European nations.
In addition, the partnership aims to offer benefits to merchants as well as help the increasing number of Indian tourists to meet their spending requirements.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Indian consumers will be able to spend easily through UPI, which enables customers to have access to various bank accounts through a single mobile application.
As per data available with Schengen Visa, around 10 million Indians travelled to the region per year before the Covid19 pandemic.
The figure is estimated to grow as the impact of the pandemic starts to ease up.
Worldline deputy CEO Marc-Henri Desportes said: “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.”
Last year, UPI handled 38.74 billion transactions, valued at $954.58bn. So far, NPCI has issued 714 million RuPay cards that have facilitated more than 1.3 billion transactions.