Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, has partnered with global payment services company Worldline to develop a point-of-sale (POS) payment acquiring a solution for its merchant network.

Through this partnership, Bajaj Finance Limited aims to strengthen its network of existing and new merchant partners by offering point-of-sale terminals and supporting various payment instruments such as EMIs Cards, Credit Cards, UPI and wallets on these terminals.

In addition to transaction services, the partnership will provide billing integration, EMI products, transaction processing, data analytics and fraud management services.

According to the press release, “Worldline, a company with extensive experience in India and the global payments ecosystem, has been selected by Bajaj Finance Limited as a technology and service partner to develop and manage its merchant acquiring program, which will be available for pan-India merchant locations,”.

The company said the merchant value proposition would enable Bajaj Finance’s 58 million customer base to take advantage of its various services, such as the Bajaj Network EMI card, Bajaj Pay wallet, Bajaj Pay UPI and Bajaj Coins exchange at the point-of-sale.

Rajeev Jain, MD of Bajaj Finance, said: “As part of our broader strategy to expand our digital offerings, we forayed into the digital payments business last year to provide customers and merchant partners with integrated payment solutions. Bajaj Finance has been providing consumers and merchants with Integrated Payment Solutions. Providing seamless and flexible credit solutions, this partnership will only help us expand our product portfolio from credit products to commerce and payment technology, spanning our vast and expanding national network of commerce stores.”