Vi Business and PayU Jointly Offer Digital Payments for MSMEs

Vi Business, the enterprise division of Vodafone Idea, has teamed up with PayU India, a leading digital payments firm owned by Prosus, to introduce tailored digital payment solutions for Micro, Small, and Medium Enterprises (MSMEs) in India. This collaboration aims to empower MSMEs with a range of digital tools designed to enhance operational efficiency and customer engagement.

The partnership offers a suite of services including customized payment solutions, personalized offers engines, buy-now-pay-later options, and seamless integration with WhatsApp. Additionally, MSMEs can access essential business tools such as location tracking, Google Workspace, personal cloud storage, and mobile security solutions. These offerings are part of Vi Business’s ReadyForNext program, providing exclusive discounts to facilitate digital transformation among MSMEs.

Anirban Mukherjee, CEO of PayU India, emphasized their commitment to supporting Indian MSMEs in navigating digital challenges and driving growth. He highlighted the partnership’s focus on increasing revenues and operational efficiency, crucial for MSMEs in today’s competitive market landscape.

PayU India reported significant revenue growth in the financial year 2023-24, underscoring its momentum despite challenges related to merchant onboarding delays due to regulatory processes. With recent authorization as a payment aggregator by the Reserve Bank of India, PayU aims to expand its footprint in the Indian fintech sector.

Meanwhile, Vodafone Idea faces intense competition in the telecom sector from rivals like Reliance Jio and Bharti Airtel. Despite being India’s third-largest telecom operator, Vi Business has been proactive in diversifying its service offerings to bolster its market position. The collaboration between Vi Business & Pay U reflects a broader effort to bridge India’s digital divide and support MSMEs, which play a crucial role in the economy despite facing challenges such as credit accessibility and regulatory complexities. MSMEs contribute significantly to India’s GDP and exports, making their growth essential to achieving India’s economic targets.