Edenred India eyes inorganic growth route to expand business

Edenred, a prepaid corporate services company which invented the Ticket Restaurant meal voucher, eyes inorganic opportunities to grow its business in India.

"We are open for partnerships and acquisitions in the Indian market to grow our business in the country. We have the capacity to invest for the same," Edenred India Managing Director Johann Vaucanson told reporters here.

"We are also looking at developing organic growth by increasing merchant partners, launching new products as well as new solutions," said Vaucanson.

The company started its India operations in 1996 and presently has over 3,500 corporate clients and a footprint of 2.5 million beneficiaries and 30,000 affiliated merchants.

"Being a global leader, we were the first player in the country to spot the opportunity in going digital - way back in 2014. Today after three years, we have converted 70 per cent of our meal vouchers business to digital meal cards and expect to achieve 100 per cent conversion to digital cards by December, 2017", Vaucanson added.

The company expects ongoing digitisation measures to offer huge fillip to demand for digital meal cards.

"After demonetisation, we are witnessing a huge demand in the digital card adoption and our average monthly transactions are now in the range of one million," he said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)