“The neighbourhood tablet-based retailer platform, ipay, has the potential to reach out to entire AP. Realistically, we are eyeing 5,000 kirana and small retailers to use our technology covering 25 per cent of the state’s population by the end of the current fiscal,” said Ipay Tech chief executive officer Krishna Lakamsani. Once it is full in the state, the company would look to enter other metros, he added.
Ipay Tech today announced the full-scale commercial launch of its patented ipay in Hyderabad today.
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Prior to this, it had completed the service’s beta-testing across “528 retailers covering 7.3 per cent population in Hyderabad,” said Lakamsani. It has made available more than 300 products from a range of 20 services to users in the city.
Ipay’s ‘Business in a Box’ service allows a small neighbourhood store transact seamlessly with its customers and registered merchants, who supply merchandise ordered by the end-users.
“In our model customers deal with the socially well-connected neighbourhood store,” said Lakamsani.
Its study revealed retailers were executing at least 30 transactions every day and above Rs 3,000 in cash through ipay.