Calling it the ‘network-of-networks’ strategy, group country manager of Visa India and South Asia, TR Ramachandran in an interview said that the lines between various payment infrastructures are blurring, and traditional approach of paying through physical cards or betting on network exclusivity, will not future proof money movement in the coming years.
“The lines between online and offline are blurring, and it is clear that products from digital payment players should meet customers, where they buy and sell. This could be EMI on point-of-sale, for example or host of other offerings. To leverage this ecosystem of products, payment acceptance points should be open. We want to bring open-loop network benefits to our partners, and ubiquity is key to the strategy,” explained Ramachandran.
The company is also in talks with various payment players in the market to make end point acceptance infrastructure interoperable.
“At present, we are also working to open,