Wed, Dec 7, 2016 | updated 07:59 PM IST

Capillary Technologies, Razorpay tie-up to launch integrated mobile wallet for retailers

Updated: Nov 25, 2016 18:19 IST

New Delhi [India], Nov 25 (ANI): Capillary Technologies, the Omni-channel Engagement and Commerce Platform Solution Company, empowering and enabling the retailers to increase their customer reach, engagement levels, sales volume and loyalty, today announced the launch of its integrated wallet payment solution for retailers and brands.

While consumers can seamlessly choose the wallet of their choice in the store, retailers have the facility to manage multiple accounts linked to stores and are franchise complaint. The company has tied up with Razorpay to facilitate the same.

Retailers will be able to transact using payment methods other than cash, when everybody is facing a cash crunch and the retailers facing issues with transaction failures. The company took this step following the Government's initiative, wherein Rs 500 and Rs 1000 currency notes were removed from their status of legal tender.

The solution is built taking into consideration existing billing workflows and operations. This means retailers will have the maximum benefits of receiving the payments through wallet without worrying about changing their business processes that are already in place.

"In India, 18 percent of the GDP is driven by cash, making India one of the most cash-dependent countries in the world. The digital revolution is already here with close to 400 million users going online and one out of four Indians carrying a smartphone," said Vice President and Country Head- India Capillary Technologies, Abhijeet Vijayvergiya.

"We power 20,000 stores, host 150 Million users, process millions of monthly eCommerce transactions on our Omni-channel Platform. We process more than 10 percent of the organized retail in India," added Vijayvergiya.

Our wallet solution is perfect for today's situation. Consumers can shop with retailers through wallets without the hassle of cash. On the other end, retailers can use our wallet solution to get connected to all the major wallets out there.

While retailers can go-live with this in matter of hours, we have taken care of multiple complex scenarios such as managing bank accounts for different stores and facilitating franchises. This is another step closer to realizing our vision to be the Omni-channel Solution Pioneer in the Asian market.

The wallet will be pre-integrated with multiple POS systems to reduce complexity. Retailers can link multiple bank accounts mapped to different stores and also easily manage scenarios where stores are managed by franchises.

Retailers can also leverage CRM data to send personalized offers and coupons to customers through mobile wallets. (ANI)