India and all the other countries have been developing themselves by means of technology of all sorts. One of the most significant changes that have occurred in the present times is the shift of cash transactions to online banking and payment. This transformation has provided not only an easy and handy way of payment but also one which is secure and can be used anytime and anywhere. This invention has created and developed customer loyalty which further leads to profits and growth.
Modern payment systems benefitting every sector in the world
One could start speaking of the benefits of a modern payment system and go on forever. It has been benefiting each and every sector and business by various means, which include flexibility in the payment, revolutionary pricing, faster payments, safe and secure transactions, remote terminal management, lower operational cost, and access to premium payment services all in one. This is something that would neither go out of trend, nor the businesses would want it to.
It has been providing efficiency to the modern times of working by employing its benefits into the process of transactions. The work has become faster by the usage of electronic transactions, which are in itself a quick and easy mode of payment. You do not need to run for cash here and there and have access to your money anywhere and everywhere merely on your mobile phones, which makes it pretty easier to hold on to transactions.
With the assistance of a modern payment framework in your corner, payments can change from being an expensive place to a critical upper hand for your business. Critical time and cost savings, along with immense productivity and usefulness, for example, expanded safety efforts, following day subsidizing, and premium installment benefits, all will assist in giving a better payment experience than you and your clients.
Online transaction leading to immense transformation in businesses
Speaking of online transactions, the payment gateway is such a digital platform that allows access to all sorts of payments in the online mode, which can effectively and incredibly boost up the growth of your business. There are several advantages of employing this as a tool for your business and its online transactions.
It is a sort of swift and easy check-out platform from the viewpoint of a customer who is performing a transaction online. This is one of the easiest ways of payment which is extremely important as we are aware of the fact that more than 40% of the consumers and individuals cancel their purchases due to the complicated process of the transaction.
There are several companies that provide payment solutions and systems for brands and companies to make their transaction process much easier and less complicated. The fact that online transactions lead to the growth and development of companies, businesses, and their profits. Thus, it all adds up to the conclusion that online transactions and payment solutions are a must in the present times. Today we might not be sure of a person having cash in hand, but there is a guarantee of them having a source of online transaction no matter what type it is.
The primary factor required in the idea and strategy of the online payment solutions is a guarantee to the customers that the transaction is completely safe and secure. The data entered and provided in such transactions is highly confidential and essential for a user, and hence, it should be dealt with extreme care.
The prominent and ultimate brand in the sector of safe and secure payment solutions: SafexPay
One such company that has been proficient and prominent in the structure of payment solutions, especially in India, is SafexPay which allows its users are clients to have the maximum benefit out of online transactions and keep it secure. SafexPay is a brand that comes from the idea in order to provide its client with various distinct payment solutions. The primary clients of SafexPay are the prominent white label companies, banks, financial institutions, fintech companies, and merchants.
The major objective and aim of SafexPay are to provide a safe, easy, fast, and effective payment system for its clients which would help them in executing and performing the end-to-end process of transactions online for several payments. They have been well known in the financial sector for the attribute that they possess of making personalized systems according to the needs and desires of their probable clients, making them more attractive and efficient in the field.
The company has been providing all possible and available assistance to the various companies all over the globe in order to make their online transactions and payments easier and secure to combat losses that usually occur because of the same.
The quality features and trustworthiness of SafexPay spreading all over the globe swiftly and effectively.
SafexPay has been a trustworthy and effective brand in the field of online transactions and the systems related to the same. SafexPay manages the entire infrastructure related to technology and transactions on both the systems, one that is of the clients and the other that is its own.
SafexPay has been efficient, and productive enough to proceed with the white label payment platforms go live in a duration of 1 day to 4 weeks max. SafexPay is the only platform that has been growing about 50- 60 % each and every month with complete productivity and efficiency in the field. It is not like the other platforms that provide only one or two types and modes of payment but is the one that consists of several.
Some of the common payment modes provided by SafexPay include banking, debit cards, credit cards, mobile wallets, UPI, EMI, alternatives for lending, and several others which made the lives of businesses and clients easier. The abilities and proficiency of the SafexPay brand keep on growing with the list of the solutions like white-label wallet platform, corporate invoicing platform, QR code solutions, mobile applications, and international payment gateway solutions, which are extremely effective and impressive with their features.
All of them have characteristic features of accepting payments in all sorts and currencies all over the globe. The security and confidentiality of SafexPay can never be questioned because of the fact that it has been employing 256-bit advanced encryption standards in order to match up with the privacy levels of its clients.
SafexPay has been developing and growing in terms of productivity and efficiency, which is well known due to the fact that in spite of being headquartered in Mumbai it has several setups in Bangalore, UAE, and Singapore. It has been spreading all over the globe slowly and steadily, making progress in every country and providing efficient features to help clients and businesses grow.
The highlights of the interview with the very well known Mr. Ravi Gupta, the founder of SafexPay
Moving forward let us know all about what Mr. Ravi Gupta had to say about his brand SafexPay during his interview with us. We have tried to ask him all sorts of questions which were answered professionally and gracefully by him, providing us all the knowledge about his brand and its possible future endeavors.
Inventiva- What is the Name of Your Venture?
Mr. Ravi Gupta- Our venture name is SafexPay.
Inventiva- Tell us something about your education & family background?
Mr. Ravi Gupta- I’m a BTech Electrical Engineer from KNMI.ET, Modinagar and I have done my post-graduation in Finance from ICFAI Business School, Hyderabad.
Inventiva- Who is your target Audience/clients?
Mr. Ravi Gupta- Apparently, Our Target Audience is B2B2B wherein E-commerce, Banks IT, HRMS, FMCG, Fintech, Retail gigs & Last and Foremost those ones too who typically scout for a disruptive solution for accepting and disburse payments.”
Inventiva- Where is your venture based (city, state, country) &What are your geographical target areas in India & Globally?
Mr. Ravi Gupta– We are headquartered out of Mumbai, with a pan India presence, and when it comes to global, our geo is UAE, Africa and Qatar thus far, and we are working stringently to prevalence it globally to stay ahead of the curve
Inventiva– What problems does your venture resolve? What are your products or services?
Mr. Ravi Gupta- We are solving Payment platform & API problem for every business across the globe. We offer readymade banking and payment platforms to businesses. We provide a payment aggregation platform, Neo banking, payout, and QR code Payment platforms.
Inventiva- Who are your biggest competitors, and how do you differentiate yourself from them?
Mr. Ravi Gupta- According to me, each and every product launched by my brand have set of competitors which questions me to enhance my products for betterment. According to me e the current players aur competitors for the payment gateway product are the banks with merchant acquiring infrastructures which include HDFC bank and Axis bank, and Bank of Baroda. Several other companies, offline acquirers, and big merchants also have close competition like SBI, ePay, IMSL, m swipe Amazon Flipkart Indigo makemytrip.com Bharat pay, and several others.
Further, there is no other White Label PG provider working with the level of customization and brand control as provided by SafexPay. Juspay, a multi-aggregator platform used by some Enterprise merchants, provides pure routing and currently does not offer a settlement to merchants, could foray into this space. Government-sponsored/ supported aggregation engines such as IRCTC, BharatKosh, PayGov, which primarily service government segments, may build White Label capabilities using other PG providers to provide payment options. These can be our opportunities and potential competition too.
Inventiva- Have you raised any funding? Or have any plans for the funding?
Mr. Ravi Gupta- Yes, we have raised 6mn USD and are in the process of raising the next rounds.
Inventiva- What expansion plans are you planning or looking for the next two years or the next five years?
Mr. Ravi Gupta- Segment identification is a function of our priorities on growing TPV with a focus on net revenue. With the covid situation, the segments that are going to be focused upon are loan repayment domestic money transfer NGO and charities B2B paid means education and society merchant credit Neo banking International expansion and several others. The major requirements for the segments to be accomplished or the email or SMS-based invoicing supported debit or equivalent instruments, payouts invoice management tally, or similar system integrations white-label platform for PC and new banking and same-day settlements to MSME as they need funds to run their operations.
We are presently looking over all the possible growth that we could bring to the brand and working upon the same in b Falstaff. We are presently working on enabling the creation of the payment page and also support all NV and have d link waste payment functionality with the ability to send reminders in case the link is not used. Further,, we have done a pilot in markets like UAE South Africa and are presently planning to have a white-label platform for Africa, Russia, Australia, and Qatar.
Inventiva- What were the problems you faced during the starting days, and how did you resolve them?
Mr. Ravi Gupta- During the initial stages, we faced problems due to a lack of proper funds, due to which we were not able to hire the right team. However, we started building a profitable ecosystem, and accordingly, the funding problem got sorted.
Inventiva- Share the idea or story behind the venture. How did it come into existence? What motivated you to start your own venture?
Mr. Ravi Gupta- SafexPay Started with the Ability for payment collection and Disbursement for every business across the globe with the differentiation factor of providing platform and API in the fastest possible time frame to banks and businesses. We saw demand for payments increasing, as the market is competitive and but sectors are many which can be captured with the differentiated product offering. That’s how SafexPay formulated.
It was a great experience to talk to him and get to know about this thinking and projects. He is a very focused and professional person who wishes to do amazing transformations in the payment sector within the next few years.
In conclusion, SafexPay is a safe and secure platform that can be employed by businesses and companies to make their work effective and less time-consuming. This creates a sense of trustworthiness in the minds of the users and customers looking forward to effective growth. The major function of SafexPay is to provide platforms to enterprises, companies, and businesses who accept payments or need to send payouts to various stakeholders. It is an All-in-One solution for all issues or services related to online payment or transactions, which is a must in the present time.
Edited by Tanish Sachdev