Sec2pay India: Leveraging Top-Tier Technology To Promote Social & Financial Inclusion

The payments industry is a swiftly developing field that is always evolving as a result of new payment methods, mergers and acquisitions, technology, and growing global demand for mobile based payments. Particularly as technology develops, payment technology businesses are taking on a larger role in the payments sector. The newest participants in the payment processing industry are radically changing the customer experience and making it possible for business owners to manage their operations with a great deal of ease, unlike in the past when it was just about facilitating the movement of payments.

Established in 2017, Sec2Pay India E-services PVT. LTD. is a tech-driven platform that aims to promote social and financial inclusion through collaborations with several banks and governmental institutions. The platform offers its customers multiple payment solutions with multiple access modes as well as physical cash machines that have been set up in rural and urban areas of India for their customer’s convenience. The platform was launched with the objective to provide last mile banking services and other financial goods for rural Indians with simple, quick, and convenient access, anywhere, anytime. “We cater to two markets the b2b financial inclusion business and the cooperative industry. We have a full payment stack for the cooperative segment, starting with payout collections, UPI QR Codes, Sound box kiosk machines, prepaid cards, debit cards, and all other payments necessary for the cooperative banks, credit societies, and microfinance companies", says Vishwjeet Thombare.

"The Platform Was Launched With The Objective To Provide Last-Mile Banking Services & Other Financial Goods For Rural Indians With Simple, Quick, & Convenient Access, Anywhere, Anytime"

The appeal of the platform is that it includes a variety of backend banks to accommodate any specific service. If consumers use Sec2Pay's AEPS service, they automatically sign up for the three banks that Sec2Pay uses for business correspondence Yes Bank, ICICI, and Fino Payments bank. It has the advantage of routing transactions to different banks when there are problems with one bank, which is helpful for customers during situations that require urgent transactions. Sec2Pay is a platform that offers multiple services on a single platform with multiple access modes the platform offers four to five access modes like dashboard mode, API stacks, Mobile Application, web application. Due to the availability of multiple services in a single platform with multiple access modes, Sec2Pay allows its users to access any specific mode as per their requirement and that is its USP, which sets it apart from other competitors in the market.

Sec2Pay is aware that, to serve the financial inclusion industry, some companies have to use a variety of services from a variety of partners.

Sec2pay Is A Platform That Offers Multiple Services On A Single Platform With Multiple Access Modes The Platform Offers Four To Five Access Modes Like Dashboard Mode, Api Stacks, Mobile Application, Web Application

For example, some companies may use the AEPS service from the ICICI bank and then go to Yes Bank for the DMP or to another FinTech company, which makes it difficult for them to conduct business hence the platform is modified in a way to simplify the process for them. “Our services have been streamlined to better fit how our customers want to conduct business in the marketplace. Sec2Pay houses all the services required for payment collection and financial inclusion at one platform, ensuring that its clients don't need to hunt for another partner or another service on the market", speaks Vishvjeet .

Over the years, Sec2pay has expanded its footprint across the nation and now handles more than one million transactions per month. “Within the next two to three years, we want to increase our service in the foreign country for cross border payment", signs off Vishvjeet Thombare.