Our lives have been Revolutionised, and our standard of living has improved due to the ever-changing technology. The continuous evolution of financial services encompasses anything right from enabling clients to execute their financial activities to applications that allow making payments using Advanced Technology. Everything we do, whether it is socializing, buying, or travelling, technology has made things easier. Even financial services and banking industries are no longer an exception.
The advent of Fintech has changed the way businesses work. Though Fintech is considered to be a trend, it is far from a fad whose relevance can be dismissed. Over the last few years, there has been a radical shift in how we handle our businesses and even our personal finances, courtesy of the ever-expanding financial service departments. Along with this, an increasing number of Fintech businesses are emerging to make financial services more accessible to the general people. These services incorporate anything from standard financial functions to banking operations. One such Fintech company is Safexpay.
Safexpay is the Next-Gen financial solutions company. Its mission is to enrich the payment experience of end consumers. As a leading Fintech company, Safexpay has evolved to provide a comprehensive payment suite that comprises products to accept and disburse payments seamlessly. Simply put, it covers every aspect of the business where money movement is involved.
The Man Behind the Idea
In 2017, Ravi Gupta, Founder and CEO, made a significant career change. After a great decade of working in Pre-eminent Fintech Companies like EBS as Assistant Manager and Tech Process as Vice President, he then decided to throw his hat in the ring and pursue his entrepreneurship desire. Later, he zeroed down to develop something interesting – a comprehensive platform that would Revolutionise the Payment and Banking experience of businesses across the globe.
Changing the Way of Work
Technology is ever-evolving but what made Ravi think deeply was that even in the 21st century, more than 65% of businesses still do not use digital payments. As shocking as it was, Ravi himself decided to conduct market research on people’s views about digital transactions. Some of the common concerns amidst business owners were security, delayed transactions, poor customer service, high TDR, additional infrastructure setup, etc. Considering these, Ravi built a robust payment suite that will be a one-stop solution for people’s payment and banking needs.
Robust Payment Platform with Customised Solutions
Safexpay’s offerings include futuristic and easy-to-integrate payment gateway, payouts, and neo-banking. The company’s white-label solution is ideal for business owners who seek to accept and disburse payments under their logo and brand. With its Unified platform, businesses process Safer and Decentralized transactions in an unrivalled global network of payment solutions.
Facing the Challenges Bravely
During Ravi’s entrepreneurial journey, he faced a significant challenge: Capital. He had a hard time finding investors. The first step was to conduct a market study to determine what businesses today require and design a product that would be a one-stop solution for all their payment needs. Finding the right team of people took a considerable amount of time and effort. Having a stellar in-house team was the vision, and he worked hard to achieve it. Marketing techniques and their cost proved to be the biggest obstacle, yet he managed it in order to reach potential customers.
Functioning during the COVID Era
Safexpay made its digital onboarding process even more dynamic to ensure operations without any physical contact. By leveraging the right tools, they assist their customers to have a seamless onboarding process with hassle-free documentation while following the regulatory standards. Additionally, the team prioritised the health, safety, and wellbeing of its employees and their families. Ravi and Higher authority members shared messages of hope to help employees stay calm and resilient.
Innovation is the Best Idea
As Ravi works with his team, he constantly reminds himself to build what his clients want. Every day, the team at Safexpay resists the temptation of slipping into the mindset – ‘If we build it, they will come.’
“I believe any experiment pertaining to a product or feature requires client validation,” says Ravi.
Often, the company might get excited by a new idea. But pursuing it without client confirmation would result in unnecessary waste of time and money on a bridge to nowhere and, additionally, losing the opportunity to produce other, more valuable things.
Looking Forward
Safexpay platform is now used by a multitude of companies worldwide, making it the industry leader with a tailored payment suite, it empowers organizations to manage finances smartly. Moreover, the digital potential that lies ahead intrigues them as they enter a new decade. With their continuous support to businesses, the team will launch more products and services to keep the wheels of the economy spinning.
Ongoings of the Industry
Ravi further quoted, the escalating pandemic has taken a heavy toll on global economies and financial markets, including India’s Fintech sector. Nevertheless, it is clear that certain measures need to be taken in the current scenario to fast-track the revival and growth of India’s Fintech sector. As a response to the economic downturn caused by the pandemic, Fintech players across the nation must adopt an innovative, aggressive, and futuristic approach to revitalize their businesses.
