"Infibeam Avenues" launches a World’s Most Advanced Omni-Channel Payment Platform with TapPay - "CCAvenue Tap Pay" Mobile App

 

Mumbai: "Infibeam Avenues Ltd," India's first publicly traded fintech business, officially presented the "CCAvenue Mobile App" — the most cutting-edge omni-channel payment platform in the world with the ground-breaking TapPay solution. "CCAvenue TapPay" aims to penetrate India's Rs 27 billion PoS industry.

On Thursday, the "CCAvenue TapPay" launch was attended by prominent representatives from the "National Payments Council of India" (NPCI, the parent company of RuPay), Visa, MasterCard, financial analysts, banks, and business professionals. The Mumbai Cricket Association in the Bandra Kurla Complex served as the venue for the tournament.

"When there are sufficient channels and touchpoints, an increase in the use of digital payments is feasible. I congratulate CCAvenue on the release of their SoftPOS solution because it is an important step in that regard. I'm confident that when the solution spreads among retailers nationwide, it will encourage sticky and repetitive tap-to-pay consumer behaviour. according to Mr. Sandeep Ghosh, Group Country Manager for Visa in India and South Asia.

Deep digital payments merchant adoption is a crucial prerequisite for India, according to Mr. Praveena Rai, COO of the National Payments Council of India (NPCI). We are thrilled to see the advent of innovative new technologies that make this possible in the Fintech scene. These developments usher in a new era of payments and will deal with important problems on the acquiring side.

The CCAvenue Mobile App with TapPay functionality, which turns any NFC-enabled Android phone into a smart PoS terminal, has the potential to revolutionise the Indian market. This will make it simple, quick, and secure for any small business or entrepreneur in the nation to take digital payments.

"CCAvenue TapPay", India's first pin-on-glass solution, will provide our country's attempts to expand digital payments and lessen the economy's reliance on cash a much-needed boost, supporting our Hon. Prime Minister's goal of "Digital India" in the process. It is a fantastic chance for micro-merchants to expand their operations using contactless payments.

This low-cost payment acceptance system from "Infibeam Avenues" has been carefully created to support Indian eCommerce last mile. Through this campaign, millions of marginalized MSMEs nationwide will adopt digital payments more quickly. As they securely accept contactless digital payments, this ground-breaking solution will alter how small businesses receive payments and cause a clear shift in their propensity to deal in cash.

"Infibeam Avenues is excited to leverage CCAvenue TapPay, India's first pin-on-glass solution to overcome challenges faced by micro-entrepreneurs and smaller businesses in the remotest parts of the country, where cost and connectivity are major factors," said Mr. Vishwas Patel, Executive Director, Infibeam Avenues Ltd. With the help of our next-generation technology, customers may make purchases by simply touching their credit or debit card on the merchant's NFC-enabled smartphone. We take pride in having introduced the most cutting-edge omni-channel app in the world at the occasion. Businesses may simply and securely accept payments using a broad range of methods thanks to the CCAvenue Mobile App, including payment links, QR codes, Smart PoS, websites, IVRS, and even the merchant's app.

According to a recent analysis by Deloitte's 2022 Global TMT, India will have 1 billion Smartphone users by 2026, and the government's ambition to fiberize every village by 2025 under the BharatNet initiative would also help to boost the market for Internet-enabled devices in rural areas. According to the estimate, India would have 1.2 billion mobile subscribers by 2021, with 750 million of those being Smartphone users.

Mr. Vishal Mehta, Managing Director of IAL & Mr. Vishwas Patel, Executive Director, IAL

According to Mr. Vishal Mehta, Managing Director of Infibeam Avenues Ltd., "5G spectrum auctions on the horizon, ever-rising Smartphone penetration, along with cheaper internet rates, it is a perfect breeding and nurturing ground for Smart PoS technology, which will further increase the use of cashless transaction adoption across the country."

With its new integrated 'CCAvenue TapPay' function, the existing 4G high-speed internet is currently a suitable booster for CCAvenue Mobile App's advanced omni-channel payment platform; with 5G spectrum allocation, 'CCAvenue TapPay' would be positioned to take the majority of the PoS market.

"CCAvenue TapPay" is expected to increase the revenue stream and help Infibeam Avenues Ltd. grow. Existing consumers and merchants will have a seamless onboarding process because no additional KYC is needed and they have immediate access to these ground-breaking technologies.