India Transact Services Ltd. (ITSL), an omni-channel merchant digital payment solutions company and a Group company of AGS Transact Technologies Ltd., has entered into a strategic alliance with Mobik, an Israel-based mobile advertisement platform for empowering MSMEs. ITSL will leverage its strong pan-India small and medium business merchant portfolio to introduce a state-of-the-art mobile content management platform and tools offered by Mobik.
MSME in India is a very fragmented segment and often lacks quintessential resources like technology and capital used by other organized large retail chains to retain their customers and market their products as well as the brand in the online space. With this alliance, ITSL will leverage Mobik’s unique technology to empower Indian MSMEs achieve an mobile and web presence and also promote special offers and products online, by providing them with a platform and a set of marketing tools and apps. ITSL aims to power 10,000 merchants with this solution reaching out to 10 lac end-consumers by 2019.
Sunil Khosla, Executive Vice President, Sales and Marketing, India Transact Services Ltd., said, “At a time when our countries (India and Israel) are exploring business ties with each other, we are pleased to collaborate with an innovative partner such as Mobik. India is an emerging market with great potential for the growth of MSMEs and Israel is known to be a hub of innovation. Our partnership with Mobik brings these two together to offer a simple, quick and affordable way to small and medium businesses, especially the very small businesses, to be online. The soft launch will commence in the tier II and III markets soon and will be followed by a nationwide launch. We will also facilitate multilingual content on this platform depending on the merchant requirement and geographical presence.”
Moshe Fogel, CEO of Mobikapp Limited, said, “India is a rapidly-growing economy and the business landscape will witness fast transformation, especially in the MSME segment which remains large and diverse. ITSL has been pioneering digital payments within this segment and has a wide presence across tier II and tier III markets in India. We will leverage their strong hold in the Indian MSME segment to enhance our footprint in the country while enabling ITSL drive MSME’s digital presence. We are proud to have this alliance with ITSL. It is one more step in Mobik’s mission towards the contribution to the digitization of MSMEs worldwide and particularly in India.”
The Israeli delegation, led by Prime Minister Benjamin Netanyahu, is currently on a four-day visit to India. ITSL was one of the select companies invited to be a part of the India-Israel business summit’s Mumbai chapter held today. The summit hosted eminent speakers from both India and Israel along with the visiting Israeli business delegation.