Global payment solutions visa to focus on mass market in India

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Global payment solutions major Visa is concentrating on the low-ticket and high-volume digital transactions in India rather than catering to just the rich segment, a top official has said.

The American company also feels interoperability within the prepaid payment instruments is a positive for it as its network can act as the bridge to facilitate there.

“The larger opportunity given where India is in terms of digital payment penetration is in the nondiscretionary segments,” its group country manager T R Ramachandran said.

“Massification of digital is the thrust area. Affluent (segment) and credit cards are always there. You can make a tweak here, a tweak there. I am not saying that is not important,” he added. Elaborating on the non-discretionary spends, he said making inroads into payments like hospitals and citizen-to- government will be the key.


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