TechProcess Solutions Ltd. will provide online-payment services to customers of Standard Chartered Bank India under a deal the Mumbai-based company announced last week.
The agreement enables Standard Chartered’s accountholders to access TechProcess’ gateway, which integrates a network of 200 merchants to pay for products and services online directly from their bank accounts, TechProcess said in a statement.
The TechProcess network includes merchants from various sectors, including travel and ticketing, film tickets, entertainment, flower-delivery services, education institutes, prepaid recharge SIM cards, telecommunication, insurance, and utilities.
Online use in India is on the rise, and concurrent growth in the online retail and payments sector also is expected. In India, some 52 million consumers used the Internet at least once per month in September last year, up from 42 million a year earlier, according to a report published by the Internet and Mobile Association of India and Indian Market Research Bureau.
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