Amway India registers an upswing in digital transactions with UPI Request-to-Pay facility!

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Amway India registers an upswing in digital transactions with UPI Request-to-Pay facility!

Amway, the country’s largest direct selling FMCG company, registers encouraging response for digital transactions rolled out on the company website early this year. In its constant endeavor to move towards digital services, the company introduced Unified Payments Interface (UPI) as a payment option for its customers in collaboration with Citibank India.

 

UPI is a real-time, 24×7 payment system that enables companies to receive money from the customers in a faster, secure and more convenient way through a tokenized financial identity (UPI ID).

 

Commenting on the move, Mr. Anshu Budhraja, CEO, Amway India, said, “We have a strong focus on simplifying and fast tracking of our services for our customers and one of the crucial requirement for the same was digitizing order process and payment methods. We are glad that our decision of integrating UPI payment method on our company website received overwhelming response from our customers across India. Today, as we speak, our online presence on the e-commerce platform, currently contributes towards almost 35% percent of Amway India’s revenues and we are expecting a considerable increase in the future.”

 

“In line with Amway India’s philosophy to continuously innovate to improve productivity and efficiency across all areas of business including treasury, we are pleased to provide multiple innovative solutions to our business partners and help them grow their business in fastest and most efficient way. Today 95% of sales transactions are being processed electronically which is a testimony of our efforts in this direction”, added Mr. K.V Hariharan, Senior Vice President – Finance, Amway India

 

The UPI launch relies on the bank’s sophisticated APIs to enable a seamless web-collect solution, also known as Request-to-Pay that triggers instantaneous collect requests to the UPI ID provided by the customer. Funds are transferred instantly when the customer authorizes the request using his UPI PIN leading to quick order completion.

 

By simply downloading a UPI-compliant app and registering their bank account to create a unique UPI ID, Amway customers can purchase their favorite product online by following simple steps:

 

UPI has witnessed exponential growth in the short span since its launch with over 405 Million transactions recorded in September 2018 alone.

 

About Amway India

 

Amway India is a wholly owned subsidiary of Amway with headquarters located in Ada, Michigan, USA.  Amway is one of the largest Direct Selling companies in the world with presence in over 100 countries & territories.

 

Globally, Amway is over 59 years old, US $ 8.6 billion, manufacturer and direct seller of quality consumer goods. Amway’s innovation and industry-leading R&D has seen more than 1200 patents granted and another 500 patents pending.  Amway has nearly 1000 scientists across 75 research and development and quality assurance laboratories worldwide.

 

Amway India sells more than 140 daily use products across categories like Nutrition, Beauty, Personal Care, Home Care and Consumer durables through Amway Direct Sellers who make personal recommendations regarding the use of distinctive quality products. Amway products are widely recognized and appreciated for their quality and value. These products are backed by a money back guarantee for 100% satisfaction of use[1].

 

Amway products are popular not just in India but across the world. Nutrilite is the world’s No. 1 selling vitamins and dietary supplements brand[2]. Nutrilite has established itself as a leading brand in the vitamins and dietary supplements category in India as well. Amway has signed Farhan Akhtar as the brand ambassador for the Nutrilite range in India to further promote the brand. Artistry is India’s No. 1 premium skin care brand[3]. Amway India also offers ‘Attitude’, an entry level premium skincare and cosmetics brand targeted at India youth. The product range has been developed keeping the needs of Indian consumers into consideration. 

 

Amway India is aggressively entering newer categories. Most notably, the company launched a Weight management program called ‘W.O.W.’ (Will over Weight) which has been really appreciated by the consumers in India. Recently, Amway forayed into the consumer durables segment with the launch of a premium cookware range Amway Queen and the Energy Drink and Sports Nutrition segment (Whey Protein) with XS.

 

Amway’s manufacturing facility in India is located at Nilakottai in the Dindigul district of Tamil Nadu. This is Amway’s third manufacturing plant located outside of USA. The other plants are located in China and Vietnam. Amway India’s Plant in Dindigul district has achieved LEED ‘Gold’ certification by US Green Building Council (USGBC) which showcases our leadership in sustainability in the industry.

 

Amway India recently won the coveted ‘Adam Smith Award Asia’ in the ‘Best Solution in India’ category in 2017. This is the 5th Adam Smith Award won by Amway India in the last 4 years.

 

Amway India has been conferred with the ‘CSR Leadership Summit & Award’ in the category of ‘Promoting Employment for Specially-abled’. The company was recently awarded the ‘Great Place to Work 2017’ in recognition for the outstanding workplace culture, as well as the ‘Best HR practices’ in quality of life and ‘Managing Health at work’ by Times Ascent Asia-Pacific HRM Congress.

Amway India registers an upswing in digital transactions with UPI Request-to-Pay facility!

[1] As per Amway Refund Policy

[2] Source: http://www.euromonitor.com/amway-claims

Source Euromonitor International Limited; Vitamins and Dietary Supplements, World, GBN, Retail Value RSP, % breakdown, 2016 data

[3] Source Euromonitor International Limited; Beauty and Personal Care 2017 edition; as per premium skin care definitions; retail value sales; UBN; 2016 data

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