Visa’s evolution payment system to be launched in India by end of June
Visa’s payment system Evolution Payment System is expected to be unveiled in India early next month.
The company has launched a new payment system called Evolution Payment Service, to be rolled out across India.
The Evolution payment service will enable consumers to pay with Visa cards, PayTM, Amex and JCB.
This is the first time in India that the company has rolled out a payment system based on the Evolution platform.
The evolution payment platform has been rolled out to several cities including New Delhi, Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Hyderaur and Bangalore.
Visa’s head of corporate services, Ravi Gupta, told ET that it will be rolled-out across India on the first of June.
He said that this payment system will help Visa customers to save time as they are able to buy the card with their bank account details and it will help them to pay their bills with a credit card.
“This is a very exciting development for Visa’s customers as it will bring a much-needed innovation for payment technology in India,” Gupta said.
The new payment platform will be available in more than 25 countries across India including the US, UK, Canada, Singapore, Australia, and New Zealand.
It will be implemented in the next few weeks in Mumbai, Bengalururu, Puducherry, Delhi, Delhi-NCR, Delhi and Pune.
The payments company will roll out the Evolution payment system on its website from June 23.
Gupta said that the payment system was developed for the card industry and will allow Visa to offer an alternative to cards.
“The card industry is a global player and Visa is able to offer customers a choice of payment options as well as offer an integrated platform that is accessible to both cardholders and merchants,” Gupta added.
According to Gupta, the Evolution Payments Service will be one of the first payment systems to be deployed across the globe.
“It is very exciting to see the world of payments and digital payments coming together with Visa,” he added.
“We are committed to helping our customers access a safer and more reliable payment experience.”
The company’s payment platform Evolution has already been launched in other parts of the world, including China, Singapore and Australia.