Payments app - Trupay which has been created to change the payments ecosystem in India, has successfully crossed 50,000 installs on the Google play store within a month of launch. The revolutionary App aims to transform the entire payments ecosystem.
Trupay by-passes all intermediate layers, allowing the user to pay anyone on its contact list directly from one’s bank account instantly. It securely transforms one’s bank account into a pay on the go solution which can then be used to pay anyone with just their phone number. Trupay has been rigorously tested and the App was even piloted by some of the biggest companies in the e-commerce space. So, in a nutshell, not only does Trupay allow monies to be transferred from individual bank accounts, it even creates a solution for segments like e-commerce and retail wherein buyers can now pay companies through their smart-phone, creating a hassle-free payments system.
Features of Trupay:
1. Trupay allows one to send and receive money to anybody directly from one’s bank account using only their mobile numbers.
2. All transactions are in real time hence the recipients get the money directly in their bank account in a few seconds. This is a huge positive when compared to the typical settlement times of 2-7 days in legacy systems of credit/debit cards etc.
3. Trupay allows for a mobile phone to be transformed into a POS device for merchants. This will democratize payment collection systems for even the smallest of merchants.
4. Your money remains in your bank account earning interest right till the point you need to pay. Unlike an e-wallet, one does not need to make those cumbersome top ups to one’s wallet account.
5. Transaction costs are the lowest since Trupay cuts out all the intermediaries from the system.
Presently available for both Android and iPhone users, the app will be available on Windows soon. Also any bank account can be linked with Trupay through one’s registered mobile number with the bank.
Trupay by-passes all intermediate layers, allowing the user to pay anyone on its contact list directly from one’s bank account instantly. It securely transforms one’s bank account into a pay on the go solution which can then be used to pay anyone with just their phone number. Trupay has been rigorously tested and the App was even piloted by some of the biggest companies in the e-commerce space. So, in a nutshell, not only does Trupay allow monies to be transferred from individual bank accounts, it even creates a solution for segments like e-commerce and retail wherein buyers can now pay companies through their smart-phone, creating a hassle-free payments system.
Features of Trupay:
1. Trupay allows one to send and receive money to anybody directly from one’s bank account using only their mobile numbers.
2. All transactions are in real time hence the recipients get the money directly in their bank account in a few seconds. This is a huge positive when compared to the typical settlement times of 2-7 days in legacy systems of credit/debit cards etc.
3. Trupay allows for a mobile phone to be transformed into a POS device for merchants. This will democratize payment collection systems for even the smallest of merchants.
4. Your money remains in your bank account earning interest right till the point you need to pay. Unlike an e-wallet, one does not need to make those cumbersome top ups to one’s wallet account.
5. Transaction costs are the lowest since Trupay cuts out all the intermediaries from the system.
Presently available for both Android and iPhone users, the app will be available on Windows soon. Also any bank account can be linked with Trupay through one’s registered mobile number with the bank.
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