Sec2Pay India: A Holistic Tech-Inspired Platform Catering to Payment Collections and Financial Inclusions
COMPANY IN FOCUS 2023
Sec2Pay India
“Leadership is not just about accolades, titles, or manifesting huge business numbers. It is about influencing gazillions’ lives for a better tomorrow.”
Having said that, our Prime Insights team has brought the story of one such leading brand that lives with the philosophy!
The idea of taking transactions one step ahead via technology has conquered our modern lives. We’re proud to say that India has accepted the agenda of online payments with just a few clicks on their smartphones and the glory it has brought to our economy is nowhere hidden! Presenting before our readership panel is the brand story of Sec2Pay India E-Services Pvt. Ltd. Under the leadership of the esteemed entrepreneur Mr. Vishvjeet R Thombare- CEO of Sec2Pay India, the company is contributing to making the country digitally stronger. Sec2Pay India is built on the wisdom of “Pay in Seconds”. Their avant-garde electronic transaction processing systems are made for enjoying smooth and secure transactions within seconds. Their mission is to establish a gigantic payment system leveraging technology to deliver payments in real-time. Igniting trust at every step and changing lives with top-notch technology are imbibed in their work fundamentals.
During this magnificent conversation with Mr. Thombare, we explored many lesser-known facts about the company and its ambitions of disrupting the online payment industry. Their vision, mission, and work morals are the true embodiment of excellence. As awestruck as we were to witness their business acumen, we hope that our readers will also relish this fascinating read.
Crafting Excellence with Dedication
It is quite evident that the size of the worldwide payment gateway market is moving at a rapid pace. As per the estimates, the size of the market in 2021 was worth 22.09 USD billion. With anticipation to increase at a CAGR of 22.1% from 2022 to 2030, gazillion opportunities for prosperity are waiting for us. The payment industry is advancing with lightning speed as an outcome of new payment methods, mergers & acquisitions technology, and accelerating demands on a global level for mobile-based payments. To be precise, as payment technology is reforming its realms, businesses are inclining more towards a larger role in the payments sector. The newest participants in the payment processing industry are positively changing customer experiences. Unlike in the past, when the movement of payments came with oodles of challenges, they are making it possible for business owners to manage their operations with utmost comfort.
Moving on the same path, Sec2Pay India E-Services Pvt. Ltd was established in the year 2017. Being a pure tech-driven platform, Sec2Pay India has the vision to promote social and financial inclusion through collaborations with numerous banks and governmental institutions. The platform brings its customers multiple payment solutions with multiple access modes. They also offer the facility of physical cash machines in various urban and rural areas of India for their customer’s convenience. The platform was brought in the space for providing comprehensive banking services and other financial commodities for rural Indians with simple, on-the-go access, anytime, anywhere.
Authentic Services On-Board
The two target segments of the market are- B2B Financial Inclusion Businesses and Cooperative Industries. The company has curated a full-fledged payment stack for the cooperative segment starting from the basics like QR Codes, UPI Codes, and payment collections ranging from prepaid cards, debit cards, and all other payment essentials. These are specifically fabricated for cooperative banks, credit societies, and microfinance companies. The overall call of Sec2Pay India is about showcasing a variety of backend banks to accommodate any specific services. The customers who use Sec2Pay’s AEPS service, automatically sign up for the three banks that Sec2Pay has business alliances with namely- Yes Bank, ICICI, and Fino payments bank. This comes with the advantage of traversing transactions to different banks in case problems with one bank occur at the moment. This is immaculately helpful for customers during situations that demand urgent transactions. Sec2Pay is mindfully built to offer multiple access modes. The platform uses four to five different access modes like Dashboard Mode and API Stacks amongst others. Furthermore, the platform provides services via diverse channels including a web application, an android application and kiosk solution in access mode. With the easy availability of such efficacious services on a single platform, the company allows its users to access any specific mode as per their requirements. This marks their USP and differentiates them from other competitors in the market.
Assurance in Actions
Sec2Pay is intricately aware that to elevate the financial inclusion industry, companies have to inculcate practical services from a variety of partners. Quoting an example, some companies use the AEPS service from the ICICI Bank and then go to Yes Bank for the DMT or to another FinTech Company. This whole and mired process makes it difficult for the clients to conduct business. Therefore, Sec2Pay has become that enlightened path meant to simplify these processes for the business ecosystem.
“Our services have been focusing on understanding how our customers want to conduct their businesses in the marketplace. Sec2Pay is the hotspot for all the services required for payment collection and financial inclusion, ensuring that its clients don’t need to spend efforts in fetching another partner or another service on the market.” says Mr. Vishvjeet.
Future Prospectus
In all these years of business, Sec2Pay has expanded its footprint across the nation. Now the team oversees more than one million transactions per day. Within the next two or three years, the company is looking forward to multiplying its reach in the Cross boarder payments. The team of Sec2Pay India is also envisioning initiating the payment gateway and payment aggregator licenses. Becoming India’s leading rural-centric banking; financial facilities provider organization is the eminent goal of Sec2Pay India.
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