With technology advancement, digital payments have witnessed an exponential growth in recent times. Mobile wallet market categorically bagged the most out of this situation and has witnessed a surge in its popularity. Operating in sync with this digital revolution, Click&pay is providing end-to-end payment solutions, says Kalyan Karteek Sadasivuni, Founder, Click&Pay, in conversation with Rashi Aditi Ghosh of Elets News Network (ENN).
Tell us about your product line and operational areas in the country.
We started our operations in India with cashless, secure and flexible transactional services. Our mobile app enables the users in making payments in a smart way by providing them to find the best offers in their locality and avail cashbacks on successful transactions. With the help of the mobile app, service users can also send/request money from their friends.
We have on-boarded around 2,000 offline merchants in both Telangana and Andhra regions in the span of four months. We have achieved 80 per cent success rate in our product line which signifies the popularity and acceptance of our product among the merchants.
After an intensive market research, we came to the conclusion that there is a need to address the problems pertaining to real payments in business-to-business (B2B) segment.
As of now, our focus is completely on B2B solutions. And, we can see a huge market opportunity in this segment.
We help businesses to do better in payments part and change the way of many small-medium businesses in making money, spending money and tracking money.
- We help businesses get paid with invoicing (easy invoicing, recurring invoices)
- Improving cash flow management by variety of payments like payments via SMS, e-mail, WhatsApp, and QR
- Automated Payments, Bulk acceptance and disbursements
- Preparing for tax time and providing business insights (accounting and Receipts Software)
- Integrate with industry leading application like Tally and Quickbooks
The Indian m-wallet market is expected to grow at a Compounded Annual Growth Rate (CAGR) of 141 percent by the end of 2021-22 according to ASSOCHAM, what are your plans in relation to the projection?
In the content segment, there are various companies that have found their niche and offer different solutions to several sectors. From mobile wallets to payment gateways and invoicing there are various companies in the market, each catering to different needs of consumer/business via technology.
The mobile wallet market is influenced by numerous factors like value-added services, security concerns, compatibility and cost. So, we are planning to tap the largest SME’s market in India. Our company would be providing end-to-end payment solutions with value-added services.
Your company has partnered with YES Bank to provide wallet services, how are your services different from your competitors in the segment?
Click&pay is the complete package when it comes to payment solutions. With us, you can accept payments online/offline both safely and securely, meaning your business is no longer confined to the local area—it’s open to anyone with Internet access.
Many businesses are still following traditional methods and dealing with multiple business applications. We can take care of the invoicing, improving cash flow management, automated payments, accounting, and taxation. So the user can concentrate on running your business.
With digitisation, the risk within the e-payments is also rising, how is your organisation controlling the menace?
We do extensive testing and continuous monitoring to keep our systems secure. We regularly consult our security partners to keep up to the mark on all attacks specific to our domains.