Visa Strengthens Commitment to Growing Digital Payments in India
November 16 2018 - 9:33AM
Business Wire
Invests in BillDesk, India’s leading
payments technology platform
Visa (NYSE: V) today announced a minority investment in
BillDesk, a leading platform for online payments and bill payments
in India. Visa’s investment and collaboration will help BillDesk
develop new product lines for its payments and loyalty businesses
and also expand its footprint into other geographies. The
investment will be subject to necessary statutory approvals and is
expected to have no direct bearing on Visa’s existing Indian
business.
“As a leading payments player in India, BillDesk has been a long
time business partner to Visa. Having worked with BillDesk’s
founders over the years, the Visa leadership has been consistently
impressed with their vision, market knowledge and execution
capabilities, as well as alignment on values. This investment
further reinforces our long-term commitment to India’s digital
payments growth story,” said Asia Pacific regional president, Chris
Clark.
“We are truly excited by this investment from the world's
largest global payment network, Visa. We now look forward to
building new products and solutions that benefit merchants as well
as consumers. Visa with its deep network and strong relationships
is a great partner as well looking to offer our services in other
markets,” said M N Srinivasu, Co-founder, BillDesk.
This is Visa’s latest partnership and investment with emerging
payment innovators. As a global payments technology company, Visa
continually partners with technology and financial services
businesses across the world – especially those that have the
potential to advance digital payments growth for clients and
customers. Previous investments have included Paidy, Behalf,
Marqeta, Payworks, Klarna, LoopPay (acquired by Samsung), Square
and Stripe, among others.
About Visa
Visa Inc. (NYSE: V) is the world’s leader in digital payments.
Our mission is to connect the world through the most innovative,
reliable and secure payment network - enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. The company’s relentless focus on innovation is
a catalyst for the rapid growth of connected commerce on any
device, and a driving force behind the dream of a cashless future
for everyone, everywhere. As the world moves from analog to
digital, Visa is applying our brand, products, people, network and
scale to reshape the future of commerce. For more information,
visit AboutVisa,
https://usa.visa.com/visa-everywhere/blog.html
and @VisaNews
About BillDesk
BillDesk, a payments technology and solutions company processes
over USD 60 billion of digital payments annually. For over 10 years
now, BillDesk has been the leader in driving electronic payments
and digital commerce in India. The payments platform and the
customer engagement and loyalty solutions offered by BillDesk and
its affiliates, are used by the largest banks and businesses in
India.
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version on businesswire.com: https://www.businesswire.com/news/home/20181116005278/en/
Visa Inc.Media RelationsWill Stickney,
+1-415-805-5218globalmedia@visa.com
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