Business Growth of Zeta in Vietnam and the Philippines Extended
Zeta, a fast-growing fintech company based in Bangalore, India, has made a significant move by expanding its business to the ASEAN region. This expansion makes Zeta one of the first Indian fintech companies to venture into South East Asian markets.
The digital financial services in South East Asia are projected to generate annual revenue of US$38 billion, presenting a significant opportunity for Zeta's growth. By 2025, digital payments in South East Asia are expected to exceed $1 trillion in gross transaction value, further fuelling Zeta's expansion.
Zeta's expansion includes launching its technology platform-as-a-service in The Philippines and Vietnam. Sodexo, a global leader in services and solutions, has been the first client for Zeta in these markets. Sodexo is now using Zeta's platform to power its employee benefits and rewards programs in The Philippines and Vietnam.
Zeta already has a strong relationship with Sodexo. In India, Zeta has a minority stake in a joint entity with Sodexo BRS India for selling multi-benefit solutions to corporates. Vietnam and The Philippines are the first Sodexo markets to go live on the Zeta platform.
Bhavin Turakhia, Co-founder & CEO of Zeta, expressed his excitement about Zeta's potential in markets outside India. He stated that the international debut of Zeta is a huge milestone for the company. Nikhil Mangal, Vice President of Global Benefits Business- Zeta, has expressed ambitious plans to scale Zeta globally. Mangal believes that Zeta's tech platform has brought about a revolutionary change in the corporate payments space in India.
Recently, Zeta has forayed into the banking sector and launched three new products called Tachyon, Fusion, and Cipher. These full-stack, cloud-native, mobile-first banking products are designed for both legacy banks and new-age fintech institutions. The digital and customizable solutions enabled by these products are expected to greatly benefit corporates and their employees in The Philippines and Vietnam.
Zeta currently has 15,000 clients and 2 million users on its platform. With its expansion into South East Asia, the company is poised to serve a larger and more diverse clientele, further solidifying its position as one of the fastest growing fintech companies in India.
While the name of the first customer using Zeta's technology platform in the Philippines and Vietnam remains undisclosed, the company's entry into these markets is undoubtedly a significant step towards its global expansion.
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