This expansion grants businesses access to India’s USD 8.9 billion gift card sector, eliminating traditional cost and complexity barriers, according to the official press release.
India’s digital payment landscape is evolving, with transaction volumes growing at a 44% CAGR from 2017 to 2024. Additionally, cross-border consumer transactions surged by 121% in the final nine months of 2024, reflecting an increasing demand for alternative payout solutions. By integrating with Runa, businesses can reportedly efficiently disburse funds, rewards, and incentives to Indian recipients, leveraging the country’s rapid shift toward digital payments, the announcement continues.
Runa’s expansion seeks to take advantage of India’s gift card economy, which is experiencing 15.3% annual growth. The company’s infrastructure is designed to simplify regulatory compliance, minimise foreign exchange risks, and offer flexible funding solutions.
According to the CEO of Runa, the company’s mission is to empower businesses to navigate this dynamic economy effortlessly, connecting them with millions of consumers in real time.
With Runa’s technology, businesses will be able to send real-time payments to recipients, bypassing the delays and high costs of conventional cross-border transactions. The platform also offers flexible currency and foreign exchange options, allowing companies to transact without the need to hold Indian Rupees, mitigating capital control risks. Furthermore, Runa ensures compliance with Reserve Bank of India (RBI) guidelines, GST regulations, and data protection laws, streamlining the complexities of regulatory adherence, according to the company.
Runa’s expansion into India will connect its customers with a reportedly extensive merchant network. A single integration grants businesses access to Indian and international brands, including Amazon, Flipkart, Shoppers Stop, and Amazon Pay, making payouts more convenient and widely accepted across the country, the announcement states.
As India undergoes a digital payments revolution, fueled by rapid smartphone adoption (650 million users in 2024) and widespread internet connectivity (over 950 million people), Runa seeking to capitalise on this growth.
According to the Senior Director of Operations at Augeo Marketing, Runa’s infrastructure has eliminated the complexities of entering the Indian market.
With this strategic expansion, Runa expands its global payouts offering, providing businesses a way to engage with one of the world’s most dynamic economies, the official press release concludes.
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