Visa takes a stake in Indian ecommerce scene
Ecommerce payment giant Visa has announced that it’s taken a stake in Indian online payments platform BillDesk. Visa’s interest in the country’s ecommerce sector isn’t unique – India is widely seen as the next great global growth story; and its young, internet savvy, population is perfectly positioned to deliver major ecommerce revolution. Visa is counting on the fact that its own expertise mixed with BillDesk’s understanding of the national market will lead to success.
Visa’s share price has appreciated by 24% so far this year
Source: Yahoo Finance
Visa’s president of Asia Pacific, Chris Clark, said that the company would be helping BillDesk to develop certain products, and that the relationship would have no impact on Visa’s other business interests in the region. In a press release, he said:
“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.”
BillDesk’s co-founder, M. N. Srinivasu, added: “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.”
Dominion holds Visa in its Global Trends Ecommerce Fund.
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