Worldline, a global leader in the payments industry and the technology partner of choice for merchants, banks and acquirers today announced that its Small and Mid-Size Business (SMB) vertical is growing at over 50 per cent y-o-y in India.
Powered by over 7 lakh SMB merchants on its platform and driven by an innovative full-service plug & play payment product suite for every use case, Worldline expects to achieve a milestone of 1 million SMB customer base in 2023 through direct acquiring and channel partners.
Verticals like E-commerce, Education, Hospitality, SaaS, Essential Services, and ISPs contributed to the growth in this vertical for Worldline in the last 12 months. Worldline also noticed that tier II and III cities are at forefront for growth of its SMB vertical in these months purely riding on the wave of digitalisation. A common trend observed from these markets is that the new generation of consumers prefer the fastest means for anything and everything at the click of a button.
Sheik Mohideen, Senior Vice President, SMB, Partnership & Alliances, Worldline said,
“We at Worldline are constantly working towards providing a safe and seamless payment experience for our merchants to ensure sustainable growth. Contactless payments, personalized checkout experience, powerful dashboard, and creation of secure and fraud-proof payment systems are important. With our unique 360-degree payment solution, Worldline is well poised to support and scale this vertical in India.”
It is critical to ensure sustainable growth for online companies with a secure and seamless payment experience. An unsatisfactory payment experience can result in higher customer attrition and drop-offs from the native platform. This is the reason why addressing the payment gap and going omnichannel is extremely important for online companies who are willing to take the direct approach route to expand their business in both the domestic and global markets.
Worldline with its unique 360-degree payment portfolio for instore, online and omnichannel payments is well prepared to solve these payment gaps. It also offers easy-to-use 19+ popular e-commerce plugins to meet diverse needs of online players.
Worldline further plans to strengthen its security and fraud analytics infrastructure along with hyperlocal solutions like no code payment offerings for SMB business vertical.