Tag: UPI

SystemXs.ai - 2
Business

SystemSePay | SystemXs.ai Debuts at Global Fintech Festival

Sep 3, 2024 by Mansi Praharaj 0 Comments #Axis Bank, #cards, #Financial Management, #Global Fintech Festival, #Global Fintech Festival (GFF) 2024, #Gopal Rohra, #multiple banking systems, #net banking, #NPCI-Bharat Bill Payment Limited (NBBL), #Sunil Ghumatkar, #SystemSePay, #SystemXs.ai, #UPI, #Vishal Shetty

Mumbai, India – 3rd  Sep 2024: SystemSePay | SystemXs.ai Debuts at Global Fintech Festival GFF-2024, Ushering in a New Era of B2B Invoice-Based Payment Systems.

SystemSePay, an innovative and fully interoperable invoice-based payments system, was officially showcased at the prestigious Global Fintech Festival (GFF) 2024. The product showcase event was officiated by Mr. Sunil Ghumatkar, Managing Director; Mr. Vishal Shetty, Director of Product Development; and Mr. Gopal Rohra, Director of Technology.

SystemSePay is set to transform the B2B payments landscape with its comprehensive suite of features, specifically designed to streamline and automate business transactions. The platform enables businesses to seamlessly onboard as buyers or sellers, generate unique B2B IDs, and efficiently manage invoices. From raising, sending, and receiving invoices to processing them directly within the system, businesses can now optimize their transactions for greater efficiency. The platform also empowers users to accept or reject invoices, receive acknowledgments, and send automated payment reminders, ensuring that settlements are timely and accurate.

Additionally, SystemSePay offers diverse payment options, including UPI, net banking, and cards, to meet the varied needs of businesses across industries. The platform also supports invoice discounting in the next phase of its launch, providing opportunities for businesses to benefit from early payment discounts, which can enhance cash flow and financial planning. To further improve financial management, SystemSePay includes functionalities for downloading payment receipts, automating accounting entries, and streamlining bank reconciliation and settlement processes.

As a Participating Agent Institution under NPCI-Bharat Bill Payment Limited (NBBL), with Axis Bank as its operating unit, SystemSePay stands as an interoperable invoice-based payments platform uniquely positioned to facilitate fully connected B2B transactions across multiple banking systems. This platform acts as a crucial link in the digital payments infrastructure, enabling businesses to conduct transactions with unprecedented ease and security.

During the event, it was emphasized that “SystemSePay is more than just a payment platform; it represents a groundbreaking leap in the digital transformation of India’s B2B sector. By streamlining complex transactions and equipping businesses with the tools they need to thrive, SystemSePay is poised to reshape the business landscape across the country. It offers unparalleled efficiency and opens up vast growth opportunities for businesses nationwide.”

“#AbbIndiaBolegaSystemSePayKaro!”

Business

Gold Savings App Jar Surpasses 2 Crore Users

Apr 16, 2024 by Sujata Muguda 0 Comments #Bihar, #Bihar Sharif, #Gold, #Gold Savings, #Gold Savings App Jar, #gold space, #Hassan, #Jar, #Karnataka, #Misbah Ashraf, #Nishchay Ag, #UPI

Bangalore, April 2024: Jar offers a streamlined investment journey that takes minimal time and customers can start saving money in small amounts, which gets invested in 24K, 99.9% pure gold. With Jar, users can save effortlessly and convert it to cash or receive physical gold at their convenience. Jar’s revolutionary round-off method effortlessly accumulates spare change from every transaction and invests it in gold so users can save that extra bit every month.

Jar DBWLogo

The company’s remarkable growth has not gone unnoticed. Jar won in the Best WealthTech Startup category at the Global Fintech Awards 2023 and was even mentioned as being one of the top UPI auto-pay players in the country. Jar was also recognized by LinkedIn as one of India’s Top Startups of 2023.

In the last 3 years, Jar has truly made leaps and bounds in the digital gold space, having started with a simple thought. Traditionally, there have always been high entry barriers in savings and investing: a high ticket size to start investing, time to understand and get started, and the complexity of the financial products.

From humble beginnings in Hassan, Karnataka, and Bihar Sharif, Bihar respectively, both Nishchay Ag and Misbah Ashraf had seen first-hand how middle India both earns and spends on a daily basis. They knew there was a gap in the market for a financial product that could help millions of people save better and get them started on their financial fitness journey.

That’s how Jar was born and, through Jar, these barriers of entry have been reduced significantly by leveraging the two most widely adopted financial tools in India – UPI and gold. Gold remains a popular investment in India, with over half the population (53%) choosing it. Now, a growing number of young investors are turning towards digital gold.

After getting a foothold in the gold space, Jar now plans to expand its offerings to include Lending, Investments, and more to meet the needs of its ever-growing user base.

phone pe
Business World

PhonePe hits the 250 million user mark in India

Nov 2, 2020 by Gouri Achary 0 Comments #digital payments, #PhonePe, #Sameer Nigam, #UPI

PhonePe, India’s largest digital payments platform, today announced that it has crossed the 250 million registered user milestone. The company reported over 100 million monthly active users (MAU) and 2.3 billion app sessions in October 2020.

PhonePe had a record month in October, processing 925 million transactions, its highest so far, with an Annual TPV Run rate of $277 Billion. PhonePe also processed 835 Million UPI transactions in October, for a market-leading share of over 40%.

Talking about the milestone, Sameer Nigam, CEO and Founder of PhonePe said, ”We are thrilled to have crossed the 250 million user milestone, and are grateful that so many Indians continue to repose their trust in our services. We are on a mission to make digital payments a way of life for every Indian citizen, and our next target is to cross 500 million registered users by Dec 2022. In line with our brand ethos of ”Karte Ja. Badhte Ja”, we continue to launch new & innovative products for every stratum of Indian society, as well as enable digital payment acceptance across every merchant in every village and town in India.’’

Digital payments adoption in India has been booming over the last few years and PhonePe has led this adoption for customers across age groups, urban and rural areas, and income levels. This phenomenal growth is driven by the best-in-class payments success rates, the fastest speed of transactions and an easy-to-use user interface which the PhonePe app offers.