By Dipo Olowookere
Visa has 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.
more recommended stories
Beta Glass Tops Gainers’ Log as Stock Market Gains 0.13%
By Dipo Olowookere Shares of Beta.
AfDB, London Stock Exchange to Attract $5trn into African Capital Markets
By Dipo Olowookere President of the.
Unlisted Securities End Week Flat Despite Rise in Volume
By Adedapo Adesanya Rise in the.
Trouble for Nigeria as Brent Falls Below $60 on Coronavirus Spread
By Adedapo Adesanya Brent crude futures.
SEC Woos Low-Income Earners to Capital Market, Promises Protection
By Adedapo Adesanya The acting Director-General.
CBN Raises Cash Reserve Ratio by 5% to 27.5% from 22.5%
By Adedapo Adesanya The Monetary Policy.
Cotton Farmers Partners CBN to Revitalise Textile Industry
By Adedapo Adesanya As part of.
Nigeria, Others Invest $500m in Afreximbank
By Adedapo Adesanya The African Export-Import.