Mumbai, Sept. 13, 2023: Aditya Birla Capital Digital Limited (“ABCDL”), the wholly owned subsidiary company of Aditya Birla Capital Limited (“ABCL”), has introduced Payment Lounge, an omni-channel, multi-mode collections platform to enable merchants provide a unified, secure, and faster transaction experience to their customers for making digital payments. The technology behind the payment infrastructure has been powered by India’s leading omnichannel payment solutions company PhiCommerce.
With a seamless front-end experience and back-end smart routing capabilities, the platform can be seamlessly integrated with merchant’s application, providing for a hassle-free check out process across in-store, online and doorstep delivery channels of merchants.
The Payment Lounge supports various payment modes including, UPI, debit, and credit cards, direct to bank, via QR code scans, buy-now-pay-later, wallet and link-based payment options. The Payment Lounge is underpinned by PhiCommerce’s omnichannel payment platform PayPhi – a one-stop solution that serves businesses’ diverse payment needs across both online and offline channels.
Payment Lounge – Features & Benefits
Commenting on the announcement, Mr. Pankaj Gadgil, Head Digital Platforms and Analytics, Aditya Birla Capital said, “We are excited about the journey of the future of payments in India and about our payments’ roadmap. At Aditya Birla Capital, we are focused on creating a great experience for our customers and merchants alike. With our strong focus on driving digitalization and innovation in product offerings, we have launched Payment Lounge to help merchants streamline their payment processes, deliver enhanced convenience to their customers, and maximize collection efficiency of their businesses.”
Mr. Tushar Shankar, Co-Founder & Head – Global Sales, PhiCommerce, expressing his happiness on the collaboration added, “Today, businesses worldwide are embracing omnichannel go-to-market strategies and PhiCommerce is recognized for its capability to empower such businesses in their growth. We are very excited to partner with ABCDL for its hugely innovative Payment Lounge that solves challenges that businesses have with legacy, siloed payment solutions. PayPhi, based on a modern service-based technology architecture, not only brings in huge cost efficiencies but also enables businesses to launch a variety of cutting-edge innovations.”
Aditya Birla Capital has been bolstering its digital capabilities by scaling up its digital base to build an integrated portfolio of digital assets to serve customers in a frictionless manner and across channels of their choice. It incorporated ABCDL to develop an omni-channel Direct-to-Customer (D2C) platform to serve existing customers, acquire new customers and act as a one stop-shop for delivering Protecting, Investing, Financing, and Advisory services (PIFA) to customers.
About Aditya Birla Capital Limited
Aditya Birla Capital Limited (“ABCL”) is the holding company for the financial services businesses of the Aditya Birla Group. Through subsidiaries/JVs that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to the diverse needs of its customers across their life cycle. Powered by more than 38,000 employees, the businesses of ABCL have a nationwide reach with over 1,331 branches, more than 2,00,000 agents / channel partners and several bank partners. As of June 30, 2023, Aditya Birla Capital Limited manages aggregate assets under management of about Rs. 3.9 lakh Crore with a consolidated lending book of over Rs. 1 lakh Crore through its subsidiaries and joint ventures. Aditya Birla Capital Limited is a part of the global conglomerate Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 185,000 employees belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group’s businesses have grown into global powerhouses in a wide range of sectors – metals, pulp and fibre, chemicals, textiles, carbon black, telecom, cement, financial services, fashion retail and renewable energy. Today, over 50% of the Group’s revenues flow from overseas operations that span 36 countries in North and South America, Africa, Asia, and Europe. For more information, please visit https://www.adityabirlacapital.com/.
Established in 2015, Pune based PhiCommerce enables businesses to embrace the digital payments ecosystem using integrated and agile innovations, enabling smooth and flexible payments across all consumer touchpoints – browser, mobile, in-store and remote. PhiCommerce offers a unified omni-channel payment platform catering to the comprehensive both B2B and B2C payment requirements of businesses, spanning both across online and offline channels. For more information, please visit https://payphi.com/.