World fintech infrastructure supplier, Runa, is increasing into India, with ambitions to open entry to the nation’s $8.9billion reward card market.
Via its new enlargement plans, Runa will allow its enterprise clients to ship instantaneous, home and cross-border payouts to client recipients in India, dramatically decreasing the normal limitations of value and complexity.
Digital cost adoption is experiencing important progress throughout India – increasing at a fee of 44 per cent CAGR by transaction quantity from 2017 to 2024. Cross-border client transactions additionally grew by 121 per cent within the final 9 months of 2024 alone – creating sturdy demand for different client payout options.
By unlocking entry to India, Runa hopes to place itself as a strategic associate for corporations desirous to faucet into India’s reward card sector for client disbursement, rewards, recognition and incentives. With the Indian market rising by 15.3 per cent 12 months over 12 months, Runa allows corporations to simplify regulatory compliance, cut back overseas trade dangers, and supply versatile funding choices when sending funds to Indian recipients.
“We’re proud to convey Runa to India, the place digital funds and reward playing cards are remodeling how individuals join and transact,” defined Aron Alexander, CEO of Runa. “India’s fast-growing market is filled with alternative, and we’re right here to assist companies effortlessly be a part of one of many world’s most fun economies and join with hundreds of thousands of latest shoppers.”
Serving to companies attain India
Via Runa’s expertise, companies can now ship instantaneous payouts through an expansive community of worldwide and Indian retailers, together with e-commerce giants like Amazon, Flipkart, Buyers Cease and widespread digital wallets like Amazon Pay.
Runa clients will profit from:
- Versatile funding and overseas trade choices: Mitigation of capital management dangers and seamless transactions with out the necessity to maintain Indian Rupees.
- Constructed-in regulatory compliance: Complete dealing with of Reserve Financial institution of India (RBI) tips, GST laws, and information safety necessities.
- Intensive service provider community: A single integration granting entry to prime Indian and international retailers.
The enlargement comes at a pivotal time, because the Worldwide Commerce Administration studies that India is experiencing a digital funds revolution and e-commerce growth, fuelled by speedy smartphone adoption, 650 million customers in 2024, and web connectivity extending to greater than 950 million individuals.
“Runa has performed the entire heavy lifting to pave the way in which for us to launch in India, sourcing widespread retailers and assuaging the hassles and compliance challenges,” mentioned Mike Bowles, senior director of operations at Augeo Advertising and marketing. “We’re trying ahead to launching our programme into the Indian market.”