Revolutionizing Payment Infrastructure: IppoPay’s Success Story 🌟
IppoPay, a Chennai-based startup founded in 2020, has recently secured funding from Mithun Sacheti, the founder of CaratLane, and Siddhartha Sacheti, the CEO of Jaipur Gems. This investment will fuel IppoPay’s mission to enhance customer experience, expand service offerings, and establish strategic partnerships for further innovation in the payment industry.
Empowering Small Businesses in Tier II and III Cities 🏙️
IppoPay serves as a payment infrastructure provider for small businesses, with a specific focus on tier II and III cities as well as rural areas. The company facilitates Unified Payments Interface (UPI) transactions through QR codes, enabling small businesses to seamlessly accept digital payments. Additionally, IppoPay assists micro, small, and medium enterprises (MSMEs) in opening current accounts and facilitating fund transfers.
- Founded in 2020 by Mohan Karuppiah and Jaikumar R
- Received third-party application provider (TPAP) approval from the National Payments Corporation of India (NPCI)
Expansion And Certification 📈
TechFini, a subsidiary of IppoPay, recently obtained certification from NPCI to operate as a UPI-based payment infrastructure provider for banks and fintech companies. The company, which initially established a strong presence in Tamil Nadu, is now expanding its operations to Andhra Pradesh, Telangana, Karnataka, and Kerala.
Expertise And Strategic Vision 🚀
Earlier this year, IppoPay welcomed SMN Swamy, former regional director of the Reserve Bank of India (RBI), as a senior advisor. Mithun Sacheti commended Mohan Karuppiah’s vision and commitment to revolutionizing financial services for MSMEs in India, showcasing confidence in IppoPay’s potential to develop a sustainable fintech platform.
Hot Take 🔥
As a crypto enthusiast, staying informed about the latest developments in the fintech industry is crucial. IppoPay’s journey of transforming the payment infrastructure landscape demonstrates the power of innovation and strategic partnerships in driving positive change. Keep an eye on IppoPay as it continues to pave the way for digital financial inclusion across diverse business sectors!
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