Clocked in transactions worth Rs 1000 crores
IppoPay is soon to roll out Tap to Phone and Payout services
Mumbai, May 24 , 2021: IppoPay is a Chennai-based Fintech startup that provides payment solutions to Small businesses, SMEs, and Freelancers. The company has launched Tamil Nadu’s first UPI App to help offline retail businesses receive payments through UPI. IppoPay was launched in September 2020 with its first beta version and from then now around 1000 crores worth of transactions were processed using their payment gateway.
Ippo Pay is a payment aggregator for businesses that collect and accept payments from their customers using Payment links, Invoice, Subscription, Social Commerce, and UPI. They target small businesses, retail stores, freelancers, homepreneurs, and people who do business in Tier 2 and Tier 3 cities & in rural areas.
IppoPay launched its store app to start accept/collect payments for all offline businesses. They are a B2B service provider that offers static QR codes for merchants to start accepting payments. In India, by one year IppoPay’s QR code will be placed across Tier-2, Tier-3, and Rural store outlets. In their app, the complete transaction records, ledger, POS (Point-Of-Sale terminal) of the merchant’s store that includes inventory, customer details, transaction reports get maintained. By this, their merchants don't need to approach any third-party software/app for all these services. They have cash record options in their application that helps to manage the complete inventory transactions between the merchant and the customer, followed by providing the static and dynamic QR codes. Using the dynamic QR code, you can define the respective amount for the customer and send it as a link to them across different social mediums. Customers from any UPI app (Google pay, Phone pe, Paytm, Amazon Pay, Mobikwik, Apple Pay, WhatsApp Pay) can pay for the merchants who use the IppoPay QR code. They accept all the bank cards for payments.
Mr Mohan K CEO, Ippo Pay says -
COVID-19 has changed the way we shop in offline retail business. There is a need to avail UPI payments in every retail shop. Even small kirana stores have started delivering items, and so IppoPay helps them to collect UPI payment via shared dynamic QR code also featuring card payments via contactless tap-to-phone technology and the recording of cash payments. They provide complete payment solutions to offline businesses. Our app can be used by a street merchant, as well as large brands. They can generate dynamic QR code and share it on WhatsApp or SMS to collect UPI payments and we our primary focus is on bringing all the offline businesses to start accepting payments.
Mr Sourabh Tomar, Head- UPI; IMPS Product, NPCI said,
We are happy to partner with IppoPay to onboard the massive merchant network of Tamil Nadu into UPI platform. This initiative will provide significant access to the digital payment ecosystem where they can accept payments seamlessly through UPI. We are also glad that UPI is increasingly becoming an integral part of businesses of all sizes across the country.
IppoPay’s short term goal is to reach out to 10 lakh offline merchants by 2022. So, they have it all!
Standout Features of the App:
- Instant Friction-less Settlements
- On-priority merchant support in the language known to you is of paramount importance.
- 0% Transaction Charges and a free Set-Up.
- Dynamic-QR, helps you share a dynamic QR code with your customer on any platform for the amount you need to be paid.
- Payment Links can be generated and shared to receive payments.
- e-POS, manages all your inventory, sales, marketing, revenue billing system and payment acceptance across different payment mediums.
- Digital Ledger(Khata), gives you the list of all customer-specific transaction details with timestamps.
- Supports offline retail shops, micro businesses, freelancers, women homepreneurs and street vendors.
- Record the receipt of offline cash and card payments.
- Digital Receipt helps customer keep their transaction history forever in their mail or SMS
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