spot_img
Thursday, June 30, 2022
No menu items!
More
    spot_img
    HomeBusinessInfibeam Avenues forays into Australian market

    Infibeam Avenues forays into Australian market

    -

    Companies

    Eyes 17 per cent CAGR to achieve transaction value of $1,75,000 mn by 2026 

    Infibeam Avenues Ltd on Monday announced its foray into the Australian market, eyeing a digital payments transaction value of $1,75,100 million by 2026.

    The company has set up a wholly-owned subsidiary Infibeam Avenues Australia Pty Ltd.

    The business will focus on online digital payments to operate as a payment processor, to provide services for Mobile Point of Sale (mPOS), Near Field Communication (NFC) and contactless card technology in the area of online payments and non-cash transactions. The company will provide other fintech services as well.

    It is betting big on the burgeoning Australian digital payment space and expects to achieve an annual growth rate (CAGR) of 17.41 per cent from the expected transaction value of $92,130 million in 2022.

    Infibeam Avenues plans to introduce its modern digital payment technologies in the Australian market, beginning with non-hardware contactless mobile point of sale (POS) CCAvenue TapPay. TapPay facilitates card payment transactions for merchants through a tap-on-phone technology.

    “We expect to capture a 5 per cent market share in the digital payments segment in Australia in the next three years,” said Vishwas Patel, Executive Director, Infibeam Avenues Ltd.

    Infibeam Avenues Ltd has deployed senior management official Neeru Sharma, Director, Platform from India, to Sydney in January 2022.

    Published on June 06, 2022

    You May Also Like

    Recommended for you

    Related articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay Connected

    0FansLike
    0FollowersFollow
    3,372FollowersFollow
    0SubscribersSubscribe
    spot_img

    Latest posts