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Payment Infrastructure provider to small businesses IppoPay announced today that it will be partnering with Visa to issue small business credit cards. This initiative by the company aims to revolutionise the financial landscape, uplift small business owners, and catalyse financial inclusion across Tier 2 and 3 cities and rural areas.
Talking about this partnership, Mohan K, CEO and Founder of IppoPay, said, “This alliance with Visa marks a significant milestone in our journey. With IppoPay’s network of over 5,00,000 merchants, this partnership will usher in a new era of financial possibilities. The small business segment which represents a base of over 100 Million in India, is deeply underserved by conventional card providers, leaving an opportunity of over $330 Bn completely unaddressed.”
“This segment is core to what IppoPay stands for, and given the size of the opportunity and our inherent moat in this space, we believe we are best positioned to address their credit demands,” he added.
Notably, Visa has recently surpassed its mission of empowering 50 million small businesses globally, touching the lives of nearly 67 million micro and small businesses.
Sujai Raina, VP and Head of Business Development at Visa India, said, “We are delighted to partner with IppoPay, equipping their small business clientele with the benefits of Visa credit cards.”
“These offerings will empower small merchants with access to working capital and affordable payment solutions, bolstering financial freedom and planning. We believe this will also promote deeper financial inclusion of a segment that is crucial to catalyse economic growth,” Raina added.
In the coming months, IppoPay, along with its partners, aims to work in a direction to expand its reach, enhance its services, and make financial inclusion a reality for all.
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