iPayu is a highly secure person-to-business (P2B) mobile App and card payment solution that supports scanned and NFC communications. It is ideal for financial institutions or jurisdictions that do not warrant the cost or expense of traditional card payment solutions. Working in conjunction with multiple financial partners iPayu offers a white-labelled, multicurrency, multijurisdictional real-time payment solution with no volumetrics as part of the cost equation.
The iPayu switch allows multiple financial institutions to work together in collaboration to provide nationwide coverage. The switch also allows for multiple currencies so that iPayu can be used in a multijurisdictional, multicurrency situation.
Reconciliation and settlement between financial institutions is done automatically each day.
For smaller financial institutions struggling with customer retention when measured against the expectations of the millennial generation, iPayu allows you to be able to compete on the largest of playing fields and generate revenue at the same time.
iPayu is an attractive solution for organisations looking to offer their merchants and customers reliable and cost-effective payment services.
Merchants where iPayu is deployed, should expect a significant increase in business, up to threefold in some cases, as opposed to those who remain a cash-only institution.
Importantly the transaction costs of iPayu are normally significantly lower than with cash or alternative payment solutions. Settlement is the same day which has a significant positive impact on cash flow.
The iPayu Card or App make it so much easier and convenient to shop. There is no longer the need to go to the bank to draw cash and then carry it around in the pocket or purse with the risk that it will get lost. iPayu is effectively either a prepaid value or linked to a current account with no possibility for overdrafts and therefore the consumer is always in control of their expenditure.
Using the iPayu Mobile App enables the customer to manage their financial affairs from their mobile device without the need for plastic.
The iPayu FX App can be loaded by the visitor before leaving home against an existing international card. When in jurisdiction the App can be used at any merchant displaying the relevant white-labelled iPayu symbol. The iPayu FX App can be topped up whilst within the jurisdiction and any remaining balance can be repaid to the originating card when returning home.
iPayu is continually evolving so that you remain on the cutting edge of P2B payment technology.
If you would like to find out more about how iPayu technology can help you to revolutionise your local payment solutions and to keep your customers on board, then please contact us without delay.