NewsVoir
Mumbai (Maharashtra) [India], June 24: Worldline (Euronext: WLN), a global leader in payment services, launched Worldline Subscription Pay - a single application designed to handle all physical and digital mandates. With the Worldline Subscription Pay application, businesses can now efficiently capture mandate images, submit them for processing, and provide customers with online registration links. This all-in-one solution offers a convenient and streamlined approach to managing mandates and subscription services.
The Worldline Subscription Pay application aims to address the common challenges faced by businesses in managing their subscription services, such as the absence of a unified dashboard to view all registered mandates, the lack of a single application for on-site mandate registration when visiting customers, and the escalating operational and development costs associated with multiple integrations for various payment and mandate modes.
Ramesh Narasimhan, Chief Executive Officer - India, Worldline, said, "The subscription business model in India has grown significantly over the years. This model allows businesses to anticipate cash flow and plan for future growth by generating recurring revenue. Subscriptions have evolved from physical to digital registration methods, with digital mandate registrations increasing from 10% to 70% over the past three years. The market is expected to continue expanding, driven by improved customer experiences, such as instant confirmation of registered digital mandates. Worldline aims to simplify common complexities faced by businesses through its application by providing a unified view of all registered mandates."
Key benefits of using Worldline Subscription Pay for business and customer
* Increases customer stickiness
* Ensures on-time payments
* Boosts Lifetime Value (LTV) of customers
* Convenient and timesaving for both businesses and their customers
* Act as a sales enabler for driving customer acquisition
Worldline Subscription Pay offers easy and quick integration with plug-and-play standalone APIs and SDKs, allowing a unified application to register all types of mandates and payment modes, including NACH, eNach, UPI, emandate, eSign, Aadhaar eSign, cards and more. The application is secure, compliant with all the latest regulations, and supports seamless operations, reducing reliance on logistics and manual data entry while saving costs and time and increasing productivity.
Some of the key segments driving the growth of subscription payments in India include Insurance, NBFCs, e-Tailing and marketplaces, SaaS platforms, education, groceries, pharmacies, and OTT services.
Worldline (Euronext: WLN) helps businesses of all shapes and sizes to accelerate their growth journey - quickly, simply, and securely. With advanced payments technology, local expertise and solutions customised for hundreds of markets and industries, Worldline powers the growth of over one million businesses around the world. Worldline generated a 4.6 billion euros revenue in 2023.
Worldline's corporate purpose ("raison d'etre") is to design and operate leading digital payment and transactional solutions that enable sustainable economic growth and reinforce trust and security in our societies. Worldline makes them environmentally friendly, widely accessible, and supports social transformation.
In India, Worldline is building a robust payment ecosystem and a Buland Bharat for over 26 years. Our PayTech offering in India encompasses the entire payment value chain - in-store and online - and aligned with our commitment to building a less cash economy in India and boosting economic growth. Today, Worldline is acknowledged as one of the foremost PayTech organisations in India and is a preferred partner for 30+ leading public and private sector banks along with NBFCs, Insurance Companies, E-commerce, Start-up's, Retail brands and SMBs.
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