Flipkart & Euronet to offer gift codes via online banking

10 Nov '14

3 min read

Flipkart, one of the leading online shopping destinations in India, has entered into a strategic partnership with Euronet India, a global leader in secure electronic transaction processing and payment solutions, to offer Flipkart’s digital gift codes across the country via banking portals.

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.

Himanshu Pujara, managing director of Euronet, India said, “E-commerce is an exploding business category. 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,” he added.

Mausam Bhatt, senior director, marketing, Flipkart, said “Our customers are at the core of every conception. Gift cards are 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,” he added.

Flipkart, currently 14,000 people strong, has 26 million registered users clocking over 6 million daily visits.

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. (GK)

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