Telecom company Vi’s enterprise arm Vi Business and digital financial services provider PayU on Tuesday announced their partnership to offer a bouquet of digital solutions to MSMEs. The services include a payment gateway service with zero transaction charges for UPI and RuPay, reduced rates for domestic debit and credit cards, and net banking.

“The partnership will combine Vi Businesses digital transformation solutions and PayU’s expertise in digital payments and financial services solutions to offer a comprehensive suite of services designed to address growing needs of MSMEs,” the companies said in a joint media statement.

Moreover, to reduce friction in the checkout process and increase customer conversion by eliminating the need for redirection between apps or websites, MSMEs would also be able to offer their customers product discovery and payment solutions from within the business’s WhatsApp store.

Apart from this, MSMEs will have access to the buy now pay later service (BNPL) to collect their entire payment at the time of purchase. Additionally, MSMEs would be able to create and run promotional campaigns that will help enhance their ticket size.

Speaking on the collaboration, Arvind Nevatia, Chief Enterprise Business Officer, Vodafone Idea, said, “Our partnership with PayU underscores our commitment towards digital enablement of small and medium-sized businesses in India. By combining Vi Business’s best-in-class enterprise solutions and PayU’s expertise in fintech, we aim to accelerate MSMEs' growth journey.”

Vi Business, as part of its dedicated MSME program, ReadyForNext is also offering an exclusive range of productivity & collaboration digital tools tailor-made for MSMEs at special prices. The products include location tracking, Google Workspace, personal cloud storage and mobile security solutions to assist MSMEs in efficiently managing their digital workplace, business and customer engagements.

Vi Business said it will also offer Google Workspace, Location Tracking, Personal Cloud Storage, and Mobility Security bundled complimentary along with unlimited calling and 60 GB data with the Business Plus Plan at INR 349 to help MSMEs improve employee productivity and collaboration.

“Our partnership with Vi Business is a testament to our commitment to supporting Indian MSMEs in their digital transformation. Together, we are providing a robust suite of business and digital finance solutions designed to increase revenues and boost efficiency, enabling these MSMEs to thrive in today’s competitive market,” said Anirban Mukherjee, Chief Executive Officer, PayU.

Technology-enabled MSMEs are expected to continue to see growth in the coming years. According to a report on India’s tech SMEs by Nasscom in March last year, over 10,000 SMEs part of the Indian technology industry will contribute an estimated USD 35-40 billion to the industry’s revenue by FY30 from around USD 15-20 billion in FY23.

Benefits for the MSMEs

• Integrated Payment Solutions: Vi Business-PayU partnership introduces a seamless payment gateway experience with zero transaction charges for UPI and RuPay, and reduced rates for domestic debit and credit cards, and net banking.

• WhatsApp Store: Enables businesses to offer their customers a seamless shopping experience, from discovering awesome products to collecting payments, everything happens seamlessly within WhatsApp. It reduces friction in the checkout process and increases customer conversion eliminating the need for redirection between apps or websites.

• Buy Now Pay Later (BNPL): BNPL enables MSMEs to receive full payment at the time of purchase while customers enjoy flexible payment options offers at reduced transaction charges,

• Customized Offers at Checkout: PayU’s ‘Offer Engine’ enables MSMEs to create & run promotion campaigns for the consumer, improving ticket size while driving customer loyalty.

• Tools for Employee Productivity and Collaboration: In addition to the above offers, Vi Business has also introduced exclusive offers for MSMEs for employee collaboration & productivity. The benefits include Google Workspace, Location Tracking, Personal Cloud Storage, and Mobility Security bundled complimentary along with unlimited calling and 60GB data with a Business Plus Plan at just Rs 349 with benefits valued at Rs 65,280 per year.