Fintech firm Runa has expanded into the Indian market, enabling instant, domestic, and cross-border payouts to consumer recipients.
This move is claimed to reduce the cost and complexity associated with traditional transactions.
The company's entry provides businesses with a streamlined solution for consumer disbursements, including rewards, recognition, and incentives.
By leveraging Runa's technology, companies can manage regulatory compliance, mitigate foreign exchange risks, and offer flexible funding options without the need to hold Indian Rupees (INR).
Runa's platform facilitates instant payouts through Indian merchants, claimed to be a streamlined solution that eliminates the delays associated with traditional cross-border payment methods.
The platform adheres to the guidelines set by the Reserve Bank of India (RBI), GST regulations, and data protection requirements.
Additionally, through a single integration, businesses can access a network of Indian and global merchants.
Runa CEO Aron Alexander said: “We’re proud to bring Runa to India, where digital payments and gift cards are transforming how people connect and transact. India’s fast-growing market is full of opportunity, and we’re here to help businesses effortlessly join one of the world’s most exciting economies and connect with millions of new consumers.”
This follows an expanded alliance with ShopBack, a cashback and rewards platform, to provide an enhanced rewards experience to its users.
Runa’s global payment infrastructure enables businesses to reach more recipients with a wider range of payout options, bypassing the traditional cross-border challenges of legacy payment systems.
"Payouts network Runa expands into Indian market " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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