MUMBAI and BANGALORE, India, Nov. 4, 2014 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (Nasdaq:EEFT), a leading global electronic payments provider and distributor, today announced a strategic partnership with Flipkart, India's favorite on-line shopping destination and the leading e-commerce market-place in the country, to distribute Flipkart digital gift codes across the country.
Indian consumers across major banks will soon be able to use their online-banking portals and mobile banking applications to purchase digital codes which can be delivered instantly via their email accounts or through a text message in a secure fashion, using Euronet's world class electronic transaction processing services. These digital gift codes act as payment instruments for making ecommerce purchases and as effective alternatives to other conventional means of payment. The customer will not just be able to gift these codes, but also use them for self-consumption on Flipkart.com.
"e-commerce is an exploding business category," said Himanshu Pujara, Managing Director of Euronet India. "Globally, Euronet provides innovative payment alternatives that allow consumers the ability to purchase digital gift codes on a wide array of channels, in order to make purchases on various e-commerce sites. In India, Euronet has been a pioneer in processing digital content and is working actively with all the mobile operators and direct-to-home providers in the country for rendering services to a multitude of channels. We are excited to foray into this growing segment and leverage our omni-channel distribution capabilities in this arrangement with Flipkart. This solution is now live with one of the largest private sector banks in the country and is expected to go live with a few more over the next couple of months."
"Our customers are at the core of every conception," said Mausam Bhatt, Sr. Director - Marketing, Flipkart. "Gift cards is a growing category in India and we are happy to have Euronet as one of our partners in this space. Indian customers will now be able to avail of this extremely user friendly instrument to purchase products and services offered on flipkart.com using a variety of unique bank channels that Euronet powers today. This initiative will not just help in bringing new customers on-board but can also potentially bring greater efficiency and scale in existing operations."
For more information on Flipkart, you can visit www.flipkart.com. For more information on Euronet, you can visit www.euronetworldwide.com or www.epayworldwide.com.
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of prepaid mobile phone time and other prepaid products.
Euronet's global payment network is extensive - including 19,808 ATMs, approximately 72,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 47 countries; card software solutions; a prepaid processing network of approximately 667,000 POS terminals at approximately 295,000 retailer locations in 31 countries; and a global money transfer network of approximately 241,000 locations serving 131 countries. With corporate headquarters in Leawood, Kansas, USA, and 54 worldwide offices, Euronet serves clients in approximately 155 countries. For more information, please visit the Company's website at www.euronetworldwide.com.
About Flipkart
Flipkart.com is India's leading e-commerce marketplace offering over 20 million products cross 70+ categories including Books, Media, Consumer Electronics and Lifestyle.
We are known for our path-breaking services like Cash on Delivery, and a 30-day replacement policy. We are the only online player offering services like In-a-Day Guarantee (50 cities) and Same-Day-Guarantee (13 cities) at scale. Our annual subscription service, Flipkart First, is the first of its kind in the country.
Launched in October 2007, we have become the preferred online marketplace for leading Indian and international brands. We are exclusive partners for local artisans and manufacturers, having tied up with the likes of FISME and NCDPD.
Flipkart, currently 14000 people strong, has 26 million registered users clocking over 6 million daily visits. Our technology has enabled us to deliver 5 million shipments per month – and this number's only growing.