World First, a UK-based fintech payments and currency firm, has launched its service in India as part of its international growth strategy.
The company has created a wholly owned subsidiary in Bangalore to support cross-border e-commerce trade. The subsidiary will commence operating from early autumn 2017.
Go deeper with GlobalData
The World First service will give international sellers based outside India access to the major Indian online marketplaces, allowing Indian consumers to purchase products online using convenient payment methods and local currency.
It will also launch a complementary service for Indian businesses, giving local sellers access to its international network of 137 countries.
As part of the launch, World First will partner with AD CAT 1 Bank under the Online Payment Gateway Service Providers (OPGSP) Scheme in order to offer cross-border collection and payment services from both local and global marketplaces.
World First CEO Jonathan Quin said: “India is a market of huge potential and ambition and we’re confident that our proposition will help businesses do more, both locally and internationally in their search for growth. We look forward to providing a service that drives job creation, strengthens supply chains, and supports the development of the next generation of mini-multinationals in India and the UK.”
