Expanding Global Payment Options: FastSpring Introduces UPI in India through EBANX Partnership
In a significant move for global digital businesses, FastSpring has integrated Unified Payments Interface (UPI) in India through a partnership with EBANX. This integration allows software sellers on the FastSpring platform to offer India's most popular payment method at checkout.
According to Payments and Commerce Market Intelligence (PCMI) data, UPI accounts for 55% of all digital transactions in India, reflecting the enormous potential of the sector driven by digital infrastructure and consumer demand. With over 950 million internet users and more than 650 million smartphone users as of mid-2024, the digital economy sector in India reachable through this partnership is part of a vast and rapidly growing market.
Jeremy Waxman, Vice President of Payment Operations at FastSpring, stated that offering UPI is a major step forward for their customers selling into India. Rashmi Satpute, Country Director of India at EBANX, expressed pride in partnering with FastSpring on this expansion, reinforcing EBANX's philosophy that localized payments can help global businesses grow faster.
FastSpring's Spring 2025 product release includes expanded local payment support, adding Hipercard and Elo in Brazil, and UPI in India. This move enables digital businesses to sell globally with local precision in India, following FastSpring's successful integration of Brazil's popular instant payment system Pix for over a year.
The FastSpring platform now offers India's most popular payment method, UPI, at checkout, in addition to its full suite of global payments, taxes, fraud protection, subscription management, and more. FastSpring sellers can enable UPI directly from their FastSpring account with no additional technical work required.
Rashmi Satpute and Jeremy Waxman will co-present a panel at the 8th EBANX Payments Summit in Mexico City, discussing the importance of localizing the payment experience for cross-border growth in India's digital commerce. The 8th EBANX Payments Summit takes place from September 17 to 20 in Mexico City.
The FastSpring and EBANX partnership has been instrumental in enabling digital businesses to sell globally with local precision in both Brazil and India. This integration reinforces the philosophy that localized payments can help global businesses grow faster, a philosophy that has proven successful in the partnership's continued support for high-growth emerging markets.
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