Walmart’s wholly-owned subsidiary in India has rolled-out a UPI Payment Interface (UPI). It allows all of its registered members, including small scale retailers to make B2B payments.
India B2B payments
The new service will enable small retailers, who procure goods from the Walmart India’s B2B e-commerce site, to make direct online payments without sharing bank details.
The step is expected to benefit all those members who do not hold credit/debit cards or are unable to make RTGS payments.
Walmart India chief corporate affairs officer Rajneesh Kumar said: “This initiative reiterates our commitment to enable small businesses, especially kiranas, prosper.
“This payment solution will help our members spend more time with their customers & serve them better as they don’t have to step out of their stores to visit banks for making payments.
“With the expectation that the UPI system will boost online transactions, the initiative will certainly complement efforts to make India a digital economy.”
Besides the new India B2B payments, Walmart India supports credit card, debit card, net banking and wallets as payment methods.
To avail the new UPI payment service, the members can login through the website or through the app and select UPI option to make payment for their purchases by entering the unique UPI ID.
The members can utilise any UPI ID issued by the Indian government’s BHIM app or Google Tez linked with their bank accounts.
The whole process is said to be convenient and faster compared to other payment modes. The members also receive immediate payment confirmation after successful processing.