On Monday, Flipkart announced a partnership with Euronet India, a secure electronic transaction processing and payment solutions provider, to distribute Flipkart digital gift codes across the country.
This will allow consumers in India to use their online-banking portals and mobile banking applications to purchase digital codes which can be delivered via mail or through a text message in a secure fashion, using Euronet’s electronic transaction processing services.
These digital gift codes can be then used for making e-commerce purchases as an alternative mode of payment. The customers can buy gift codes for for both gifting and self consumption.
“e-commerce is an exploding business category,” said Himanshu Pujara, Managing Director of Euronet India. “Globally, Euronet provides innovative payment alternatives that allow consumers the ability to purchase digital gift codes on a wide array of channels, in order to make purchases on various e-commerce sites…We are excited to foray into this growing segment and leverage our omni-channel distribution capabilities in this arrangement with Flipkart.”
Where Flipkart is launching digital gift codes, Amazon is going after Indian gift card technology company QwikCilver. While the latter develops gift cards for both Amazon and Flipkart, if Amazon does acquire it then Flipkart might consider looking at other alternatives, with these gift codes being one of them