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Payswiff, Mastercard join hands for digital payments

IANS  |  Hyderabad 

Payswiff, an processing and tax-compliance solutions provider, on Tuesday signed a strategic alliance with to speed up acceptance and adoption of digital payments in

The alliance will cut across non-traditional distribution channels to promote low-cost beyond the top eight cities in the country, said Payswiff.

Payswiff's SET, a mobile application, allows individuals and business owners to accept payments using more than 60 options, including and debit cards, e-wallets, e-links, UPI, Bharat QR and multi-EMI.

will work with Payswiff on an distribution strategy to provide the app, services and support in regional languages, especially in areas where Point-of-Sale (PoS) machines are not easily accessible.

The partners will also focus on innovation and addition of new functionalities such as asame-day' and ainstant' merchant settlements. This will hugely benefit the micro merchants in small cities as they will be able to unlock additional revenue streams using embedded features in the app such as mobile recharges, utility bill payments, and bus ticketing.

"SET encourages individual business owners, small retail stores, cab drivers, quick service restaurants and several other businesses to accept digital payments.AWe are excited to with toAbring these people to the formal and pave new avenues for their growth," saidAPriti Shah, Co-founder and CEO, Payswiff Solutions Pvt. Ltd.

"Merchants and small business owners are a vital part of India's cash-to-digital journey. Mastercard aims to empower merchants across the country, especially in small towns and villages, with Mastercard's partnership with Payswiff is a vital step in this journey," said Rajeev Kumar, senior vice president, Market Development, South Asia, Mastercard.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 11 2019. 23:20 IST