Bajaj Finance Limited (BFL), the lending arm of Bajaj Finserv Limited and India’s largest and highly diversified NBFC company, has partnered with Worldline, a global leader in payment services, to develop point-of-sales (POS) payments acquiring solutions for its merchant network.Worldline, a company with a rich experience in the payment ecosystem in India and globally, has been chosen by Bajaj Finance Limited as a technology and service partner to develop and manage their merchant acquiring initiative, which will be present at pan-India merchant locations.
With this tie-up, Bajaj Finance Limited aims to enhance its relationship with both their existing and new network of merchant partners, by providing point-of-sale terminals and enabling acceptance of a wide range of payment instruments such as EMI cards, credit cards, UPI and wallets on those terminals. In addition to the transactional services, the tie-up will provide value-added services like billing integrations, EMI offerings, transactions processing, data analytics and fraud management services.The merchant value proposition will allow Bajaj Finance’s 58 million customer base to avail of its various services such as Bajaj Network EMI Card, Bajaj Pay Wallet, Bajaj Pay UPI and Bajaj Coins’ redemption at the point-of-sales outlets.
Commenting on the partnership, Rajeev Jain, Managing Director, Bajaj Finance Limited, said, “As a part of our broader strategy to expand the digital offerings, we forayed into the digital payments business last year to offer an integrated payment solution to customers and merchant partners. Bajaj Finance has been consistently delivering seamless and agile credit solutions to consumers and merchants alike, and this partnership will only help extend our product suite to go beyond credit products to commerce and payments technology across our large and expanding network of merchant stores, spread throughout the length and breadth of the country.He further stated, “Bajaj Finance has always been at the forefront of digital technology, and we are confident of leveraging Worldline’s cutting-edge technology to deliver a disruptive and game changing in-store payment acceptance experience for our ever-growing merchant partner ecosystem.”
Deepak Chandnani, Executive Chairman, Worldline India, SA & ME said, “Worldline India is proud to partner with Bajaj Finance Limited to provide easier, faster and secure digital acceptance solutions. Our expertise in creating and managing the entire merchant lifecycle journey will benefit BFL in offering rich experience to their valued customers. Our dedicated workforce will ensure seamless execution for Bajaj Finance’s requirements which will contribute to the growth of both the entities. We have successfully managed large scale partnerships in India and other markets and are looking forward to a long term mutually beneficial partnership with Bajaj Finance Limited.”
Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, is one of the most diversified NBFCs in the Indian market, catering to 58 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Wallet, Co-branded Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited has the highest domestic credit rating of AAA/Stable for long term borrowing, A1+ for the short-term borrowing, and FAAA/Stable & MAAA (Stable) for its FD program. It has a long-term issuer credit rating of BB+/Positive and short-term rating of B by S&P Global ratings.