The Highly Recommended Payment And Card Solution Providers in 2020

www.theenterpriseworld.com | America Edition | August 2020 The Highly Enterprise Recommended Spotlight Payment and Card PiPiT Global Solution Providers Powering International in 2020 Cash Transactions Upshot Metros Toronto a cultural centre Sen Kugan Country Director (UK) iPay Total INTERNATIONAL PAYMENT GATEWAY







FROM EDITOR’S DESK “Online payment will continue to play an ever-growing and significant role in the development of e-commerce as well as the stimulation of consumer demand.” - Lucy Peng Payment and Card solutions have become more of a necessity than a regular service or need in today’s world. The world just got bigger for buyers and suppliers, as they can access each other from anywhere around the globe, and when it comes to transactions, it can be done in a matter of seconds. What makes it all possible is the advent of online transactions. So, payment and card solutions enable and empower transactions, increase the reach of people, and businesses. Now, anybody can access any market in the comfort of their homes with complete reliability and safety. This issue of The Enterprise World, The Highly Recommended Payment And Card Solution Providers in 2020 features some of the top companies that make these transactions safe, reliable, and effortless. These companies provide some of the best services in the industry, constantly innovating, and revolutionizing the industry. They are one of the highly recommended payment and card solution providers in 2020. On the cover story are the indomitable services of iPay Total. iPay Total is a rapidly growing provider of high-risk payment solutions for various businesses. It offers customizable payment solutions at competitive prices while providing multiple layers of security. The company’s tailor-made package includes an arrangement of a merchant account (MID) with one of its international acquiring banking partners, with an award-winning payment gateway service, reporting tools, integrated fraud prevention, and free dedicated lifetime support. Rent payment was never an easy feat until RentMoola stepped in and changed the way rent is paid. RentMoola was formed in 2013 when online payments were fairly new to the real estate market. RentMoola focuses on tenant empowerment and landlord efficiency and control. No other FinTech platform has solved the intricacies of this environment better than them. As the company matured, the platform offered more flexibility through its 360° payment solutions, thus becoming the leading solution to offer the most flexible ways to pay. Today, RentMoola processes hundreds of millions in annual payments, with growing revenue and user base. There is a lot more to read inside. Happy reading! Adeeb Malik Adeeb Malik

The Enterprise World, 1985, Henderson Rd, Columbus, Ohio, 43220 Follow Us On: For Sales & Branding Enquiries: [email protected] For Subscription: [email protected] Publisher The Enterprise World Creative Content Editor Sanyukta | Adeeb Marketing Coordinator(USA) Peter J. PR & Marketing Coordinator James H. Business Development Executive S. Yadav Creative Design Head: Sushant K. Social Media Manager Narendra S. Digital Circulation Manager Amanda V. This list is NOT a ranking. The companies on listed in magazine serve different aspects of the market, making ranking them in any order except revenue impossible and unfair. We try to bring a perfect platform for business organization to showcase their valued products/ services. Copyrights © The Enterprise World | 2019. All Rights Reserved. The images and content included in this magazine should not be copied, transferred or reproduced in any form or by any means, electronics, mechanical, photocopying, recording, otherwise, without proper permission from The Enterprise World. The Enterprise World solely owns all the reprint rights.

Leaders in Spotlight This issue of The Enterprise World, The cards online. PiPiT Global is a Financial Highly Recommended Payment And Card Inclusion company with a mission to help the Solution Providers in 2020 features, unbanked/underbanked to be able to fully participate in the Digital World, as well as to Payment and Card solutions are becoming a feel secure when making an online payment. necessity each passing day owing to the ease of They partner with payment platforms to use and purchasing power that they provide to the provide their digital cash payment service, people. As every transaction can now be such as Cellulant in Kenya and Paykii in completed online, and cards empowering those Mexico, and migrants from these and other remaining places where online transactions countries can then pay their bills back home. cannot take place, makes these solutions one of the most needed and demanded solutions of all. Learn more about how cloud-based These solutions empower, enable, and provide a transactions work and change the financial means of having a hassle-free transaction with process completely with the story of Prepaid safe and reliable transactions around the globe. Ventures Ltd. Prepaid Ventures offers innovative solutions to businesses looking to Featured here are some of the leading companies grow. Solutions that can bridge the gap that are enabling us to have a safer, faster, and between traditional paper services and reliable payment and card experience. These electronic payments while maintaining your companies and their solutions are one of the best, current business structure. Prepaid Ventures made with decades of experience, foolproof can help merchants who look to give their planning, and lots of innovation. They are leading consumers excellent debit card services and the industry and are highly recommended unrivaled customer support. Prepaid Ventures payment and card solution providers in 2020. protects merchants by monitoring fraud and risk, and provides consistent and useful On the cover story are the indomitable services of consultative services. iPay Total. iPay Total is a rapidly growing provider of high-risk payment solutions for Rent payment was never an easy feat until various businesses. It offers customizable RentMoola stepped in and changed the way payment solutions at competitive prices while rent is paid. RentMoola was formed in 2013 providing multiple layers of security. The when online payments were fairly new to the company’s tailor-made package includes an real estate market. RentMoola focuses on arrangement of a merchant account (MID) with tenant empowerment and landlord efficiency one of its international acquiring banking and control. No other FinTech platform has partners, with an award-winning payment solved the intricacies of this environment gateway service, reporting tools, integrated fraud better than them. As the company matured, prevention, and free dedicated lifetime support. the platform offered more flexibility through its 360° payment solutions, thus becoming the Grab the insightful story of PiPiT Global and how leading solution to offer the most flexible they empower international transactions. PiPiT ways to pay. Today, RentMoola processes Global was started as a solution that addressed hundreds of millions in annual payments, growing concerns about internet security, as well with growing revenue and user base. as risks commonly associated with using credit



iPay Total 10 PiPiT Global 18 CONTENTS Prepaid 26 Ventures Ltd RentMoola 34

iPay Total SEN KUGAN INTERNATIONAL PAYMENT GATEWAY Country Director (UK) 10 August 2020

COVER STORY We provide a sy‘s‘tem that delivers a iPay Totalseamless experience and drives growth. www.theenterpriseworld.com 0121

Cover Story B2B payments are prone to high-risk payment processing many complexities. And industry, providing businesses with banks have made just the most competitive deals in high- incremental improvements in the risk merchant accounts suited to nature of corporate transactions. their needs. The company offers This has given digital these solutions in integrated transformation a tremendous scope packages that will perfectly adjust here. The FinTech start-ups have to the client’s company card made some of the biggest payment requirements. developments like the instant, real- time, cross-border payments. Over iPayTotal is a global payments the last few years, the FinTech company , they can assist industry has undergone massive merchants in creating high-risk changes, and the results can speak merchant account and provide them for itself. with customized online fraud-free credit card processing solutions. Businesses can be considered a We believe that merchants deserve high-risk merchant if they operate better. They take time to understand in an industry identified as high risk any businesses operational by the credit card processor, or if challenges and present cost- there is a significant risk of effective solutions to improve financial obstacles inherent to the inefficiencies, and in turn, increase business model. profitability. iPayTotal can assist you in creating “We provide a system that delivers were going to make it work. They your high-risk merchant account a seamless experience and drives planted this small seed, but they and provide you with customized growth.” didn’t hope for it to just grow on its credit card processing solutions. own; they nurtured the growth of We can guide you through the As the world’s digital demands the company to put it up on its feet banking underwriting process. continue to rise, iPay Total is proud where it is today. Through to have their in-house developed intricately handled meetings, teams The Company white label gateway solution with and designs, they went up against one of the best payment technology every obstacle, only to come out iPay Total is a rapidly growing today. And as the company grows stronger and bigger. provider of high-risk payment in parallel to such demands, they solutions for various businesses. It also want to acknowledge their There were hindrances and offers customizable payment great relationships with hardships, but there was more hard solutions at competitive prices international banking institutions work and ambition. Every while providing multiple layers of around the world to provide IBAN security. The company’s tailor- and SWIFT banking solutions. made package includes an arrangement of a merchant account A Journey towards Success (MID) with one of its international acquiring banking partners, with an Success, like every growth, needs award-winning payment gateway nurturing. In the business industry, service, reporting tools, integrated thousands of ideas are generated, fraud-prevention, and free and millions are rejected. However, dedicated lifetime support. iPayTotal Ltd was not such one idea. iPayTotal Ltd was an idea The organization brings started by three people three years transparency and standards to the ago, and their aims were clear: they 12 August 2020

entangled situation was thought all around the globe. “We believe that every idea needs over to provide the best service that encouragement, and with our iPay has till date. And with this, The company has faced many services, we want to make your iPay Total is proud to say that it is different challenges over the years. growth conducive, because now an international company, with They have struggled initially greatness starts from small offices in countries like United understanding various fraudulent beginnings.” States, Canada, Philippines, activities and then worked on to Singapore, United Kingdom, Hong provide high safety systems. Now The Products and Services Kong, India and South Africa, their international payment providing services from Payment gateway provides powerful built-in iPay Total focuses mainly on high- Acquiring to IBAN Accounts to fraud prevention filters and risk merchant accounts. The Prepaid Cards, with partnerships monitoring tools based on client company partners directly with and alliances with the top-level behavior, ensuring any suspicious banks specializing in numerous banks and financial organizations activity is blocked. high risk industries all in efforts to www.theenterpriseworld.com 0123

Cover Story get legitimate approvals and which will save them most of the reconciliation and settlements processing solutions. Their online money.” along with plugin-based integration payment gateway is an independent of Acquirers and Payment Service platform for providing safe and To take the company forward needs Providers. Our white label payment secure payment processing for PSP considerable planning and gateway is being used by many /ISO and merchants. Their PCI organization to step up in terms of clients globally. DSS Level 1 Certified cloud products/services. payment platform allows FEATURES consumers to pay merchants At iPay Total, they consult • Auto Merchant Onboarding Auto securely for goods and services members of the team about Assignments to the Boarding online, mobile, and over the development plans and also seek network telephone. the views of merchants and other • AI-based document and identity business associates. Their aim is to verification Below is a short overview of always provide their merchants first • API integration with more than services iPay Total provides in a class High Risk Merchant Account 100 banks and PSPs. most satisfied customer experience. services at the most competitive • Custom API development fees. Be it for IBAN accounts Reporting based on multiple • iPay Total provides end-to-end opening, obtaining offshore parameters. merchant account payment accounts and financial licensing… • Referral Agent and BANK solutions for businesses and integration and Management consumers around the globe. “At iPayTotal Ltd, we combine our Chargeback and Refund • iPay Total can set up with technical skills with our simple, • Management Financial Report International bank accounts - straightforward approach.” generation SWIFT or IBAN, to keep the money flowing even if companies They escalate solutions and FUTURE DEVELOPMENTS were not able to contact high street possibilities to help clients scale MOBAM™’s future is to build the banks. deliberately, increaseprofitability most demanded business features • The company can register and set and achieve long-term viability. such as: up offshore /European companies Their commitment is a promise to • Virtual Card Instant Generation with banking solutions. themselves tolive the values that • IBAN generation • They can provide a Crypto backed their employees created; • Swift Account Transfer Bank Account and debit card. Pioneering, Courageous, Open and • Crypto Payments • Financial Licensing and other Focused. Their four values are the • Crypto to Fiat Currency legal projects. heart of everything they do and • iPay Total also offers outsourced inspires how they work together as If you’re looking for a merchant payment consul5ng services to a distinguished team. onboarding system and payment high-risk clients withcomplicated gateway that operates under your setups or special requests. With this overview, iPayTotal has own brand, MOBAM is just what From the very first moment of recently launched their new product you need. MOBAM™ offers fully contact with iPay Total, the team MOBAM. brandable, easily integrated white will work to have a complete label solutions, including payment understanding of merchants MOBAM is a highly scalable and processing, Software as a Service business by listening to them in a PCI-certified payment orchestration (SaaS), and standalone packages compassionate and competent platform for White Label Clients with the highest level of technology manner. and Enterprise Merchants. The and security in the payment card modern, easily extendable industry. “We leverage our advanced architecture provides intelligent knowledge of payments to set routing and cascading as well as Sen Kugan- Leading the Way merchants up in a matter of hours state-of-the-art risk management with a low, transparent rate plan, functions as well as centralized Sen Kugan is the Country Director 14 August 2020

“ AT IPAYTOTAL LTD, WE COMBINE OUR TECHNICAL SKILLS WITH OUR SIMPLE, STRAIGHTFORWARD APPROACH. (UK) at iPay Total. He is the Addleshaw Goddard. “I believe that there is always room recipient of the Global Client • Conducted in-depth presentations for an entrepreneur to learn more Excellence Award 2019. His key and training on bespoke case and there is always opportunities to successes include- management systems to judiciary innovation and constant andlaw firms (a UK first). improvement of a business.” • Developed and implemented a • Rapid success and promotions key client relationship and sales within the organization. The Team process for UK & Wales. • Held the record for most client • Developed successful tender and contracts sold/signed (1 day=Over “We make our employees feel project managed several high- 30, 1 month=over 500). valued and appreciated.” profile jobs ranging from matters of • Employee of the month on several great public significance to highly occasions. At iPay Total, the company ensures televised global affairs (first in UK • Developed and maintained long that they are providing employees history of company). standing relationships with internal with necessary tools to conduct • Gained genuine rapport and loyal and external stakeholders their duties and on-going support, custom from top firms such as; forcontinued custom. ensuring each employee is www.theenterpriseworld.com 0125

appreciated and conducted regular back makes us question our what you would like to achieve, staff engagement activities. In order abilities. Sen Kugan’s message to what you are really good at, what to look after the employees and to all surviving the competition would your values are, and what you want maintain a healthy relationship with be- to look back on at the end of your them, the seniors of the team make life? sure that they are always It's about self-management and approachable if they need anything, taking full responsibility of myself. Determine and write down what thus resulting in their trust and You can and you must pro-actively you’d like to achieve in each of loyalty. Ensuring employees well- organize and live your life. No one your life areas. This allows you to being and mental health is else can do it for you. anchor your personal life vision in paramount ensuring equality of your ongoing schedule. At the same work load and opportunities for Managing Your Life is Much More time it will add meaningful content progression. than Career Management: Work to your life. (career, wealth) is just one aspect of iPay Total prides itself on having a life. There are other crucial areas There always will be external tasks diverse team where everyone is which need to get adequate and and deadlines which you will need unique and have excellent regular attention in order to lead a to comply with. It’s a fact of life. communication with their fulfilled life: social area (family, Still, in order to master your life, colleagues and they focus on goals friends, recognition), health area you will also need to set your own and results which makes their team (sports, relaxation, diet, well-being priorities in order to concentrate on unique. and fitness), and spiritual area your important professional and (fulfillment, religion, love, private goals. You need to control We all live in an extremely philosophy). your day in order to control your competitive world, and the one who life. survives it comes out as the best. Write Down Your Personal Vision But sometimes, it also takes a toll and Mission of Life: Ask yourself on us, a little failure or a small set- what’s really important for you, 16 August 2020



The Highly Recommended Payment and Card Solution Providers in 2020 RentMoola Rent Revolutionized ‘‘ WE MAKE COLLECTING RENT AND PROPERTY-RELATED FEES SIMPLE AND EFFICIENT. RentMoola is an innovative “I firmly believed that the space is enterprise market while millions of global cloud platform that ripe for disruption. Complex consumers were underserved in the is disrupting the real estate problems require bold solutions fragmented, high volume, mid- industry by empowering customers that can only be stitched together market and small enterprise to take control of their finances by an Ecosystem of diverse world- markets. through a simple, integrated, and class partners.” secure solution that is powered by a With big players coming in, world-class Partner ecosystem. The Inception competition increased in the market, which gave the opportunity Led by CEO Karthik Manimozhi, “We make collecting rent and for RentMoola to differentiate RentMoola is North America's property-related fees simple and through their world-class industry leading online rent payment efficient.” partnerships. RentMoola focuses on platform. tenant empowerment and landlord RentMoola was formed in 2013, efficiency and control. No other Mr. Karthik started as CEO of when online payments were fairly FinTech platform has solved the RentMoola last November 2019. new to the real estate market. This intricacies of this environment One in three households are renting meant that as one of the innovators better than them. in North America. With over 50 in the space, the company had to million renters paying over $500B take on the challenge of changing As the company matured, the in rents and utilities in North user behavior to adapt the new platform offered more flexibility America, there is a need for more technology. through its 360° payment solutions, sophisticated FinTech liquidity thus becoming the leading solution solutions and expanded Financial As the market embraced this new to offer the most flexible ways to literacy for all demographics. The flexibility of rental payments, pay. problems of urban living , competition soon followed. The affordable Rents, Income inequality market was split with the top ERP Today, RentMoola processes will only be worsened by covid-19 players having a majority market hundreds of millions in annual Economy. share in the high end, large payments, with a growing revenue 18 August 2020

and user base. Chief Executive Officer Karthik Manimozhi saw the potential of the platform to help create a diverse and inclusive community comprising the landlords and tenants. “There is a big opportunity for growth in advancing an already successful and stable platform and scaling its capabilities to take on a bigger challenge.” RentMoola delivers solutions across these three waves. Having their 360° payment solutions in place, RentMoola became a necessity for many property managers and their tenants to quickly adapt to contact-free payments. To answer the need for non- Karthik Manimozhi predatory credit line solutions, CEO RentMoola rolled out innovative new solutions on the platform. This improved financial literacy.” We plan to differentiate the gives tenants the ability to access a platform by providing more line of credit, and for property Tenants Take Control of Their services like access to consumer managers to access working capital Finances credit or line of credit, property for businesses. An industry first, search, tenant screening, security these solutions allow for maximum For renters, we provide the most deposit alternatives, renters flexibility with as many choices as comprehensive and convenient insurance, credit reporting to boost possible to provide liquidity to its payment options with our wide their credit score, and more. users. network of partners. Tenants can enjoy 360° payments online, phone, Risk Management for Landlords The company has seen a large in person, or in store. We are influx of users since the beginning partnered with all major credit RentMoola helps landlords create of the COVID-19 outbreak. cards, international payments, recession-proof businesses by RentMoola's user base has been banks, stores, and more. Now, empowering them to mitigate risk, increasing by 45% percent and has tenants can also use their digital raise working capital, improve their over 227% percent growths in net wallets. cash flow, and increase the overall revenue compared to the same period from last year. The Products and Services “Our mission and purpose is to provide tenants with flexibility, more financial control, and www.theenterpriseworld.com 19

The Highly Recommended Payment and Card Solution Providers in 2020 value of their holdings. to market their properties through who speak 32 different languages, apartment listing you’re doing something right. With RentMoola, landlords are able • Application management “Diversity encompasses every to manage processes such as • Tenant screening to ensure ounce of our FinTech company” - marketing their properties, tenant property managers target the right from empowering international screening to ensure they target the renters. This means offering university interns, to having nearly right renters, credit reporting, comprehensive background and 40% women team members improving their cash flow, security checks which go beyond throughout our executive team, eliminating risks with rental understanding potential tenants’ board membership, managers, and insurance, eliminating missed financial history so landlords can associates. payments, and generating working evaluate tenants based on a range capital as needed. of risk factors For the team at RentMoola, their • Credit reporting where renters can diversity and inclusion practices are Every solution on their roadmap is report their rental payments to the not formalized in any kind of aimed at solving the issues that credit bureaus. This enables tenants policy - and they believe that it most severely impact people's lives, to boost their scores, setting shouldn’t be. They recognize there and more importantly, helping the themselves up for a better financial is a need for widespread change, most vulnerable in our societies future and for many companies, policies around the world. This is what • Rental insurance and security need to be set in place to make that drives the team at RentMoola. deposit alternatives also benefit happen. landlords and tenants alike by “Our tools help the real estate ensuring they are protected “Our success comes down to one industry adapt to consumer • 360° payment solutions to include simple thing - it comes naturally. It demands and help manage the more options like paying with is, in fact, part of our company's costs of housing with efficient and digital wallets. DNA.” user-friendly technology.” • Smart communications for simpler communications between Diversity Pays Off Property managers can manage the tenants and their landlords entire renter's lifecycle in one • Customer credit line for tenants RentMoola’s employees are located platform. RentMoola’s platform and access to working capital for all over the Lower Mainland of BC, helps them mitigate risks, identify property managers Canada as well as across the United their ideal tenant, and provide a States geographically, thus bringing wide range of financial solutions to “We are constantly innovating and in an excellent perspective from their tenants. focus on providing our customers across North America. With this the best experience with simple and background, they can understand For tenants they offer flexibility comprehensive solutions that are client’s needs and provide valuable and the goal is to provide solutions valuable to them.” solutions to their customers. that will help them take control of their finances better. This means The Team “Having a diverse workforce helping to improve financial means having the capability to literacy across multiple “Our team is the backbone of respond to the needs of diverse demographics. RentMoola and critical to our markets.” success as a company.” RentMoola’s roadmap ensures landlords will be able to mitigate Diversity is Not a Policy - It’s in risk and increase efficiencies and Their DNA provide tenants a better experience. They plan to provide the following: When your company has a • The ability for property managers multicultural team of 34 people 20 August 2020







HOW IS MY BUSINESS CRE As simple as it can be, a credit score tells lenders Ideally, financial experts suggest keeping the credit whether a borrower is a good candidate or not. And utilization ratio as low as possible. Against your credit to your surprise, a credit score is not only for utilization, you can see options here and find a sound credit individual consumers but for businesses too. Although there card for your business. The lower your credit utilization, the are no federal regulations that govern business credit score better deals you can get on your business credit card. reports, it is still widely used for credit purposes. It is worth mentioning here that keeping your credit In many ways, a credit score is the same for businesses and utilization to zero is also not recommended. Contrary to consumers. For both, the higher the score, the better. common belief, low credit utilization can damage your However, the scoring models vary for both and also depend business credit score. upon the referring agency. Business Size For instance, consumer credit score ranges between 300 to 850, where 850 is the best. On the other hand, for Another critical factor that most agencies and lenders businesses, some models consider a score between 1 to 100. consider when calculating your business credit score is the In contrast, others may consider it between 101 to 662, or size of your company. The business size not only refers to some may also consider between 0 to 300. The credit scores the number of working heads but also refers to financial for businesses are calculated a little differently. Keep behavior. In other words, the more money your business reading to know more about how your business credit score deals with regularly, the better are the chances to score is calculated. higher. Payment History Credit Mix The first and the foremost thing that most credit score Last but not least is the mix of credits that your business agencies consider when calculating your business credit uses. The credit score agencies usually refer to the types of score is your company’s payment history. It means they loans, mortgages, or any other credit that your company would consider how much you pay in dues and bills. And uses. Besides, the amount of debts are also included in the also, when you pay them. credit mix. For example, suppose your monthly utility bills range As the leading market experts explain, a diversified credit between $1,000 to $1,200. You make payments as soon as mix is more likely to give a boost to your business credit your invoice is generated. In that case, your credit score score. And therefore, improve your chances of securing a will likely be better. There could be other similar bills that loan. may come into play when calculating your business credit score. As already mentioned, a business credit score is similar to consumer scores in many ways. But at the same time, it is Credit Utilization also different in some ways. For a better understanding of your business credit score, we recommend you talk with The second thing that most credit score agencies consider is your banking institute. “credit utilization”. In simple terms, it is the ratio of the amount of credit that you use against the credit you have available for your business. 24 August 2020

EDIT SCORE CALCULATED? www.theenterpriseworld.com 25

The Highly Recommended Payment and Card Solution Providers in 2020 PiPiT Global Powering International Cash Transactions ‘‘ AT PIPIT WE ARE CONSTANTLY LOOKING AT NEW MARKETS AND WHERE PEOPLE ARE MOVING FROM AND TO. Many consumers face The first module they built was an choose a cash payment option. In complex problems when e-commerce module for online some cases, even with this hard it comes to payments. shopping. The customer selects(1) a evidence of the market potential, And resultantly so, many FinTech product and (2) PiPiT as the many merchants were reluctant to start-ups are gaining popularity for payment option; they receive a introduce anything extra to the their sheer simplicity in solving barcode to their phone, and they online shopping process, given the these complex issues with then go into one of PiPiT’s partners Abandon Cart issues that impact innovative products. and pay it. Then once the barcode their sales figures. has been scanned, they send a Led by CEO Ollie Walsh, PiPiT message to the website to say that Related to that, investors Global is a start-up tech firm in the the goods have been paid for. commonly stated the belief that FinTech/Payments space. PiPiT has cash will soon be dead. Before they launched a Digital Cash Collection One of the earliest challenges was could sell them on PiPiT itself, they platform for International Cash convincing ecommerce merchants had to convince them that cash was Transactions. This is the first that their customers were interested in itself a viable payment method. platform of its kind in the world. in, and would use, a cash payment Of course, this was down to the option at their online checkout. The average investor not being a The Inception team carried out extensive market potential client for PiPiT so not research into ecommerce payment immediately understanding the PiPiT was formed about six years behaviour and trends to provide value proposition. ago, as a solution that addressed real independent data that a market growing concerns about internet existed for PiPiT’s technology. PiPiT now has offices in Galway, security, as well as risks commonly They also conducted customer UK, Ghana, Mumbai, Vancouver associated with using credit cards research to identify the customer and Lagos; however, in the early online. segments that were most likely to days as a B2B business, funding 26 August 2020

was a real challenge. Having secured €1.2m in funding from private investors, US Venture Fund called West Loop Ventures and Enterprise Ireland since then. “At PiPiT we are constantly looking at new markets and where people are moving from and to.” The Products and Services PiPiT Global is a Financial Inclusion company with a mission to help the unbanked / under banked to be able to fully participate in the Digital World, as well as to feel secure when making an online payment. They partner with payment platforms to provide their digital cash payment service, such as Cellulant in Kenya and Paykii in Mexico, and migrants from these and other countries can then pay their bills back home. As well as international bill pay, Ollie Walsh PiPiT also offers PiPiTbanking - a CEO cross border bank lodgement service - so many migrant workers have a bank account at home, but none where they currently live, with the help of PiPiT, they can lodge cash to that account through the local collection partner. For example, PiPiT is currently payment card or who have security believes in the quality of working with Sterling Bank Nigeria concerns about online fraud, but relationships with clients. Building to enable Nigerian diaspora lodge also can be used for cross border relationships with people as cash to their bank account at home. purchases. individuals builds on the strength There is also an option to load cash of the partnership of the companies. to eWallets. Again, instead of Currently, the team is working on This is especially true with smaller sending cash home, migrants can other new use cases of the businesses. Up until the load it to an eWallet and then pay platform, soon to be launched and lockdown/travel restrictions the bills online. beneficial for many! team made as much effort as possible to travel and meet people PiPiTPay-In-Person is their The PiPiT Global Family in person; this showsthe dedication ecommerce module which allows of the team to understand their consumers to pay for online orders A factor that matters in the growth customers’ needs and not to forget, with cash. This can be in-country of the company is the client real experiences, where the team for people with no access to a relationships. At PiPiT, the team can address the pain points and www.theenterpriseworld.com 27

The Highly Recommended Payment and Card Solution Providers in 2020 PiPiT Founders work on making it better! The PiPiT Social Mission As for the PiPiT team, there are six PiPiT is a company with a mission – a social mission. members on the team at the “We are not here just for the benefit of our shareholders and stakeholders, moment and most of them know but for society. We believe in this so strongly; we have written it into our each other quite a long time. For a Articles of Association” Start Up team they are relatively ‘mature’ too, with all of them being As it stands, pretty much all the ways to make a payment online requires a north of 45. bank account and/or credit/debit card. Not being able to do this due to access to payment facilities or not wanting to because of security or “Everyone being committed to the privacy fears excludes that person from fully participating in the online company Purpose has created a community, which is where much of today's' lives are lived. really strong culture which keeps the team functioning through the Today businesses are pushing customers towards online by offering them usual ups and downs of start up reduced prices. It’s cheaper to do the grocery shopping, buy a train or bus life.” ticket, buy clothes, etc. online than instore. In the UK, the Financial Inclusion Commission ( 2019) found that the cost of being low income in the UK was £500 a year. This is the price of not being able to physically or virtually shop around. People can’t shop around or at all online if they can’t make the payment. PiPiT is here to change that. PiPiT is accessible to everyone. No account of any sort is required, not even a PiP IT account. We don’t have any of your personal details, so PiPiT is secure. 28 August 2020



4PAYMENT 30 August 2020

METHODS Small Businesses Must Support www.theenterpriseworld.com 31

Small business owners can boost sales by 2) Card payments offering different payment methods to their customers. However, when it comes to 77% of US consumers prefer to make their selecting different payment methods, small payments with a card, according to the 2017 businesses should consider transaction sizes, their TSYS US consumer payment study. Plastic has accounting system, and who’s responsible for become the primary way of payment by US handling the payments. consumers, whether they use a credit or a debit card. Let’s look at four payment methods that small businesses must support. Payment with the help of cards is convenient and can lead to a smoother checkout process. 1) Check payments As a result, most US customers have come to expect that businesses will accept at least one Checks are paper documents that authorize the kind of card payment. issuing bank to transfer money from your customer’s bank account to your business bank Card payments will benefit you if you’re a account. A check documents the payment date and small business owner as well, as they’ll amount and the payer’s bank account number and increase your customer base and will signature that authorizes the payment to the legitimize your company as well. recipient. What’s more, card payments get deposited into The use of paper checks peaked in the 20th century. your bank account promptly, which may help However, they’re not as popular due to the global in better cash flow management for your adoption of electronic payment systems. However, business. However, one caveat of this payment checks are still common for small business owners method is that small businesses may incur an that own rental properties or small utility additional cost in terms of transaction fees. companies. When it comes to transaction fees for debit As a business, you just need to have a business cards, the Durbin Amendment sets the account to accept check payments. transaction fee for debit carts at 0.05% of the purchase amount, plus an additional 22 cents. What’s more, many senior citizens are not On the other hand, transaction fees for credit comfortable with digital payment methods. As a card payments do not have any such cap and small business, it’s important for you to support the can significantly impact your bottom line if aging demographic and accept checks from them. you do not pass the expense to your customers. What’s more, void checks are also helpful as they Payment Methods Sub have information to verify your account and details of which bank holds your account. Some uses of 3) Payments by Cash void checks are to set up auto-pay or direct deposits with employers, automate your loan payments, and When it comes to cash payments, consumers set up automatic electronic bill payments. pay with bills and coins. Typically, small business owners manage cash payments You can get a voided check by visiting your local Method with the help of a point-of-sale bank or requesting one online using check printing system. Until recently, cash was the primary software form of payment for most businesses. 32 August 2020

However, other payment methods have risen in Online payments are the primary payment popularity. methods for a business that operates online. However, even brick-and-mortar businesses can The main benefit of cash payments is that offer online payments with the help of digital businesses will receive the money immediately wallets or mobile apps that store debit and credit instead of waiting for transactions to clear. card information. Payments by cash also reduce overhead costs Online payments offer a faster and cheaper way since there are no extra fees for receiving cash for small businesses to get payment, and they from customers. If you’re a small business with offer consumers a lot of convenience at the time slim profit margins, you should consider whether of check-out. credit card fees will be expensive for you. However, cash-only businesses run a high risk of What’s more, credit card or cash sales may mismanagement of money or even theft. You may require you to calculate the total cost of a also lose customers who prefer to pay only using product, including applicable taxes. However, cards or other payment methods. usually online payment methods do this calculation automatically, saving time and 4) Online payments reducing the chances of human error. Online payments are transferred electronically. While you may have to pay fees to accept online They use payment gateways to authorize and payment, such fees are usually more affordable facilitate several payments, including credit cards, than the fees that are charged in the case of credit direct debit payments, and eChecks. card payments. www.theenterpriseworld.com 33

The Highly Recommended Payment and Card Solution Providers in 2020 Prepaid Ventures Ltd The Cloud Based Payment Processor ‘‘ FROM FULL-SERVICE PROGRAM MANAGEMENT TO CONSULTATIVE SERVICES, WE STRIVE TO DELIVER EXCELLENCE AND UNRIVALED CUSTOMER EXPERIENCE. The word has quickly debit card solutions in the United unrivaled customer support. escalated from a traditional States. Prepaid Ventures protects forefront to a digital one. merchants by monitoring fraud and The revolution started after Prepaid Ventures was started in the risk, and provides consistent and companies started deploying cloud year 2007 with an aim to provide useful consultative services. solutions and then the other the customers of the alternative industries had to comply. So far, financial sector, a financial solution The company promises seamless digital revolution in the financial that was inclusive and one that service offerings coupled with their sector is the most prominent one. made e-commerce accessible introspective approach to This led to the emergence of universally. Today, Prepaid strengthen their product range. several FinTech platforms Ventures offers a suite of electronic When summed up, this results in providing the customers with payment options across multiple happy satisfied customers! To cutting-edge services. Some of payment products and distribution achieve this, they focus on these which, with their services made channels. three important things, FinTech, a new change approachable to the confused Prepaid Ventures offers innovative Security audience. solutions to businesses looking to grow. Solutions that can bridge the Protect funds with our advanced One of such companies that have gap between traditional paper monitoring system and exceptional made adapting to this change as services and electronic payments in-house call center. easy is Prepaid Ventures Ltd. while maintaining your current business structure. Prepaid Technology Led by CEO Andrew Siden, Ventures can help merchants who Prepaid Ventures, LTD. is one of look to give their consumers Their robust technologies give you the leading processors of prepaid excellent debit card services and fully customizable service portals. 34 August 2020

Including their award winning ROVR interface. Administration From card fulfillment to user management and compliance, the team is there from beginning to end. The Products and Services Customers are generally keener on Andrew Siden the security of their payments, CEO especially with a card to make sure they aren’t falling prey to the their account or performs certain threats. Prepaid Ventures perceives actions. this interest, and in this way, it actualizes any administrative • EMV chip technology: This will know their balance in the changes quickly, screens its technology is used to support safe account. Additionally, its card frameworks, and depends on and secure payments. It offers programs support a robust stringent risk management enhanced fraud protection, smart alert/notification system. approaches to deal with guarantee security, and is the global standard buyer assurance. The organization to safeguard customers’ data and • Visa’s Zero Liability Policy: utilizes security apparatuses on an transactions. Visa’s Zero Liability Policy covers item, program, and portfolio level. card programs to ensure that Here are some of the ways Prepaid • Real-Time Alerts: Any time a cardholders are not liable for Ventures employs its solutions- customer uses their card, it sends unauthorized charges. This is a instant transaction reminders to that • Account Shield: Customers have customer. As a result, the customer full control over their account security by blocking transactions. They can instantly protect their card by turning on Account Shield. This option temporarily enables or disables account transactions. Cardholders can do this by using the mobile app or website. • Biometrics: The company secures customers’ data with 256- bit encryption, a high level of data security. Using biometrics like Touch ID and Face ID protects the information with automatic sign- out if a customer leaves the app open. It also uses two-factor authentication for an extra layer of protection when a customer creates www.theenterpriseworld.com 35

The Highly Recommended Payment and Card Solution Providers in 2020 guarantee from Visa that customers NexsCard is always close by. Enjoy technology, program management, will not be held responsible for one-on-one support and instant card and electronic payment processing, unauthorized charges resulting replacement at your local NexsCard has accelerated the growth of from their account or account retailer. Prepaid Ventures. The company details. They are protected even now offers a suite of electronic when their Visa credit or debit card NexsCard offers a mobile app, payment options across multiple is lost, stolen or fraudulently used, exceptional in-house, US-based payments products and distribution online or offline. customer support and early access channels. In 2016 Prepaid Ventures to your government benefits. also entered the Merchant • FDIC Insured: PPV’s top Processing space, to add to its full priority is to protect its customers Andrew Siden- The Torchbearer suite of Processing, Payments, and — that starts with keeping their of Next Generation Payments Program Management services. Mr. information and money secure and Services Siden serves on the board of the safe. Therefore, card programs are Network Branded Prepaid Card FDIC insured. Funds are insured up Andrew Siden is Chief Executive Association (NPBCA) the national to $250,000 through its issuing Officer and Founder of Prepaid trade group serving the prepaid bank, Metropolitan Commercial Ventures, a next generation cloud card industry. Bank, Member FDIC. based payments processor as well as parent of several Prepaid card The Team • Enhanced Fraud Engine: Using brands including Nexscard. industry best practices, cardholder Mr. Siden brings 25 years of A good team that aligns with your experience, past transactional financial Services and electronic and the company’s goals and history and knowledge of the payment processing experience to targets forms the core for the retailer environment, PPV makes it the company. Before starting success of any organization. possible to prevent what may seem Prepaid Ventures, Mr. Siden began Andrew fees he is fortunate enough like an assault by fraudsters who his career at Smith Barney in 1991, to have some of his trusted friends also threaten prepaid cards and where he worked as a Guided as the board members of Prepaid prepaid industries Portfolio Manager and ultimately Ventures. With their timely became an Equity Trader with guidance and advice, Andrew has NexsCard- Rethink the Way you Knight Capital Group. In 2003 been able to stay competitive. Manage Money Mr. Siden left Wall St. to peruse the fast changing Alternative Financial Drive, willingness to learn and NexsCard is powered by Prepaid Services (AFS) industry where he intellect are those characteristics Ventures, a leading provider of joined a leading New York based that make a successful member, and financial program processing Check Cashing company. Once the leaders take into account all this located in New York. NexsCard is there, Mr. Siden implemented new when forming the team. backed by powerful and secure corporate strategies, leveraged technology to help protect you. technology, and updated compliance & operational NexsCard was designed to provide procedures. All the while gaining a banking services to those who need broad understanding of the AFS it most. Providing our customers landscape and ultimately launching with end-to-end banking services Prepaid Ventures and developing its for a fraction of the cost of big initial product, the NexsCard banks is the cornerstone of the Prepaid Visa Card. Now distributed NexsCard program. across the country, NexsCard propelled Prepaid Ventures into the With hundreds of thousands of payments technologies space where retail and reload locations, Mr. Siden’s investments in financial 36 August 2020



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