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Payments General

Quatrro, RS2 to integrate digital payments in India

Tuesday 11 July 2017 | 10:13 AM CET

Quatrro and RS2 have teamed up to offer an end-to-end hosted credit card processing and acquiring technology platform for Indian financial institutions.

As a result of the alliance, the global fintech company will streamline digital payments and usher in disruptive changes in the Indian credit cards / unsecured lending space and merchant acquiring.

The company will help other fintech companies and banks to launch credit offerings (both card and non-card based) and products that will provide penetration and adoption of digital payments.

In India, there are more than 30 million credit cards translating to a mere 3.5% of adult population. While several factors have contributed to the low penetration including lack of adequate credit history and conservative underwriting practices by banks, the major reason is expensive credit card technology and infrastructure which has been a forte of multinational companies. Additionally, the lack of optimal resources at banks and financial institutions for credit card product management has limited the growth of the market, according to the company’s press release.

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