Flipkart, the global ecommerce portal had joined up with Euronet India, a global payment solutions company. Euronet is one of the largest evoucher processors in the country which facilitates the distribution of 139 brands gift vouchers on banks digital channels. Brands include other ecommerce platforms such as Chroma. Himanshu Pujara, managing director, Euronet India said that "We have tied up with both ecommerce biggies where evouchers will be sold via a large private sector bank and this service is already live. Such usage of hassle-free instruments is rising significantly among customers, who mostly use it for gifting. We are in talks with other large private sector banks to offer our processing services.".
The banks' customer can use online or mobile banking to buy digital or physical gift vouchers of renowned brands either via the banks' website or mobile apps, including prepaid wallets. The customer can choose these vouchers available in multiple denominations such as Rs 500, Rs 1,000, Rs 3,000 or so; from those digital interfaces.
The customer's account or card is charged and the voucher is directly emailed to the customer while physical vouchers are couriered. Pujara said that "We are able to offer large ecommerce as well and organized large format multi location retailers extensive reach into digital banking using our technology solution,". Moreover, Euronet is also working on a payment solution wherein digital banking users don't have to carry their wallet including credit/debit cards or use internet banking, keeping their money in a pre-paid wallet instead. The solution requires a first-time registration process and then, customers need to key in banking details every time. It will be soon launched with a large private sector bank.
Pujara said that "After this (registration), every time a user wants to transact using this solution, it is done in a straight forward manner with just the help of his internet enabled laptop or mobile,".