Over the past few years, an increasing array of solutions aimed at different customer segments, and expanding channels such as online, mobile, and ATM have demonstrated the evolution in the payment and transaction space. Moreover, technology advancements, need for convenience, and security & regulations have also played a major part in causing a significant shift in the payment systems. Along with the customers, the evolution in the payment system is proving beneficial for businesses as well. The online payments help businesses save time, are faster, and also help in reducing excessive costs involved in physical transactions. Thus, businesses around the globe are currently going online for their financial operations.
Incepted in 2017, SafexPay is a fintech, which focuses on solving problems for businesses that need to either accept online payments from or make payouts to various stakeholders. The Mumbai-based company also specializes in making its platform available to other merchant acquirers such as banks, financial institutions, fintech, and international clients.
Exclusive Payment Solutions and Products
SafexPay is a leader in B2B2B white-labeled payments and has access to over 5000 clients across the world. The company provides payment solutions such as link Payments, QR code  Solution, Digi-banking Solution, DCC Solution & Payout Solution. Moreover, it operates in the following product lines.
- Payment Gateway (PG): SafexPay acquires merchants directly and through its reseller partners, and provides these merchants various integration options to collect payments from their customers using over 100+ payment options such as fully customized payment pages, standard payment pages, etc.
- White Label PG: SafexPay has the ability to custom brand end to end experience from merchant onboarding to dashboards, settlements, integration options, and kits for any entity aiming to directly acquire merchants. It supports all the payment modes and can add locally relevant payment options in international markets on demand.
- Payouts and API Banking: The company acquires merchants who want to send money to various stakeholders. This product is used for instance by Lenders for loan disbursal and gaming companies for crediting money earned as winnings in the player’s bank account.
- White Label Digi-Banking: This is a pure white label experience for brands wanting to issue cards or create wallets for their customers. SafexPay supports in creating both virtual and physical cards. It has APIs for brands to credit these cards/wallets with money. Additionally, the company also provides a white-labeled web and mobile application to manage this card/wallet.
- Merchant Credit: SafexPay provides same-day settlement to select merchants, based on stringent checks on their line of business and transaction history on the company’s platform.
Amongst these product lines, White Label PG is SafexPay’s biggest revenue generator, with PG, Payout, and Merchant Credit contributing in smaller ratios. The company provides Smart Payout Capability, Faster Onboarding of Merchants, and Multi pay mode & Aggregation Capability through its solutions. Apart from this, SafexPay follows 256-bit encryption across all API. Moreover, the company is PCI DSS certified and does application VAPT every quarter to ensure there are no security issues. These factors have contributed to making SafexPay one of the leading payment solution providers. Safexpay is offering these payment solutions to markets like UAE, Saudi Arabia, Africa and Australia apart from India.
A Self-Motivated and Achievement-Oriented Professional
Ravi Gupta, the Founder of SafexPay has been leading the company to success over the years. Listed amongst Top 50 Payment Professionals by World Payment Congress, he is a payment expert with 11+ years of experience in Payment Gateway, Digital Wallet, and Digibanking across the acquiring and issuing industry. He specializes in Product management, Dynamic Currency conversion, Instant Insurance, Multiple Currency Acceptance, and numerous other fields. He developed the Payment Gateway/ Payment Aggregation business under several companies and is running it successfully offering more than 300 payment methods across 100+ Banks, all Credit/Debit Cards, IMPS, UPI, Multiple Currency Gateway, EMI, Prepaid Wallets, Tokenization, NEFT/RTGS, etc. Furthermore, he has developed mobile money and wallet platform with new technologies like HCE, NFC, etc.
The growing demand for the payment industry in India was his motivation behind founding SafexPay and has so far succeeded in gaining ground in the payment industry in a very short period of time. For the year 2020, Ravi has focused his priority on multiplying the business growth and is aiming to expand the business operations in the international market. Furthermore, Ravi has a sight for launching new product related features along with seamless features capability. The team of SafexPay is growing rapidly and is determined to achieve these targets.
Dynamic and Experienced Team
SafexPay has a dynamic team of professionals that have worked on scalable payments platforms across various payments companies. The technology team is the largest team followed by sales and product, operations, finance, and other domain departments. At SafexPay, active listening is encouraged within the team. The company emphasizes on effective decision-making by establishing a framework for decision-making. Furthermore, ownership and teamwork are the other salient qualities of the team that has helped the company grow over the years.
Combating the Changes in Future
The ever-changing customer demands and continuous technological advancements are expected to fuel the changes in the payment systems in the future. SafexPay is ready to combat the expected changes in the product lines such as Payouts and API banking, White Label Digibanking, and Merchant Credit. Regarding the payouts and API banking, SafexPay is partnering with all current account banking providers to build a toolkit for merchants to easily transfer money to anyone or in bulk using APIs from their existing bank account.
Furthermore, consumer brands will increasingly continue to build fintech features for their own customer base. SafexPay is combating this by continuing to partner with more issuers to give brands and enterprises a bigger choice to choose their banking partners. Likewise, to cope with the changing Merchant Credit needs, the company has built overdraft facilities in partnership with banks building on API banking models. It also provides loans from lending and NBFC partners as per need basis on transaction data underwriting combining with other financial and risk data as well.
