Mumbai, Worldline, a global leader in the payments industry and the technology partner of choice for merchants, banks and acquirers, partners with 4thWave,a Finance and Banking As-A-Service (BAAS) Platform provider, to launch an integrated payment and supply chain financing offering for India and South Asia.
Through this partnership, Worldline will launch an innovative digital platform that brings together lenders and businesses to facilitate Supply Chain Financing, Collections and Payments on a single platform. The platform will facilitate businesses to access affordable finance on one hand and helps to optimize B2B payments across multiple payment rails on the other.
The offering will address a diverse range of working capital financing use cases for MSMEs and large corporates alike, across various industry segments. The partnership will leverage the extensive merchant and banking partner network of Worldline India.
Commenting on the launch, Vishal Maru, Executive Vice President, Merchant Payment Services Worldline, said, “Worldline India has been working relentlessly to modernise the B2B payments landscape and introduce new services such as supply chain financing services with the aim of enabling sustainable economic growth for all our present and prospective clients. We trust that the expertise of 4thWave will help Worldline develop and implement relevant products and services to address the working capital and supply chain financing challenges of the businesses in the short term and long run.”
To commemorate this partnership, Partha Saha, Senior Vice President, Global Markets, 4thWave Inc.stated, “We are confident that 4thWave’s experience in Supply Chain Financing in emerging economies, coupled with Worldline’s deep payments expertise will alleviate the B2B Payments and financing issues of the businesses, while catalyzing inclusive economic growth in India and South Asia.”
The COVID-19 pandemic impacted most businesses, and the traditional lending models limited easy access to finance. The credit gap in India alone stands at over INR 20 trillion [1] despite the contemporaneous extended credit environment. A survey conducted in 2020 highlighted that 9 in 10 respondents in India [2] are concerned over a deterioration of their working capital cycle and short-term financing flexibility.
While the region is witnessing a lot of innovation in B2C payments, large and costly gaps remain in the B2B segment, with most of the businesses reporting high Accounts Payable (AP) processing costs as a major challenge with traditional payment methods.
About Worldline
Worldline [Euronext: WLN] is a global leader in the payments industry and the technology partner of choice for merchants, banks, and acquirers. Powered by 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted, and innovative solutions, fostering their growth. Services offered by Worldline include in-store and online commercial acquiring, highly secure payment transaction processing, and numerous digital services. In 2021, Worldline generated a proforma revenue of close to 4 billion euros.
Worldline India Pvt. Ltd., a wholly-owned subsidiary of Worldline, is partner to over 40 banks and over 5000 marque clients comprising of ecommerce giants, leading insurance players, D2C players across sectors. In India, Worldline covers the whole payment value chain and end-to-end processes that facilitate services to over 1.5 million merchants across over 5000 towns and cities in India, South Asia / Middle East. The services offered by Worldline in India are in the areas of Merchant Acquiring, VAS, Card Issuance, National Electronic Toll Collection, Risk Mitigation, Reconciliation, Loyalty solutions; and online solutions like NextGen Payment Gateway, Subscription Payments, Payment Orchestration Platform, Online Cross Border Solution, Tokenisation, among others. Supported by over 2000 members, Worldline India is constantly investing in its people and in the latest technologies to increase efficiencies, drive innovation and enhance digital payments adoption across the country.
About 4thWave
4thWave is a Canada-based B2B FinBaaS platform provider with a focus on providing white-labeled digital platform solutions to banks and financial institutions in emerging economies. The 4th Wave platform has a laser-like focus on increasing revenue for our partner financial institutions.
The plug & play solution enabled by the low-code platform design enables fast go-to-market. The company has been founded by successful professionals and serial entrepreneurs with years of experience in the banking and technology domains in global markets.
This article was shared with Prittle Prattle News as a Press Release.
