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Indian fintech firm SafexPay makes first strategic investment and brings the future of payments to India.
In the new-age world of contactless payments, your face can become your payment mode. SafexPay, an Indian fintech focused on providing payment platforms to businesses and merchants, has made its first strategic investment in PayByFace, which uses cutting-edge facial-recognition technology to allow individuals to make payments without physical cards or even a digital wallet on their phone. SafexPay has introduced PayByFace technology in India, one of the first platforms to use facial recognition technology to make payments.
Both partners strive to simplify payments while still making them more secure & reliable from a shopper’s perspective. Sharing a similar mission, SafexPay & PayByFace joined their strengths to better equip global merchants with an innovative, integrated, and cost-efficient payment infrastructure. In the end, this will make for an intuitive, more convenient, and valuable in-store check-out experience, which is a significant driver for loyalty differentiation and customer satisfaction.
PayByFace conforms to the current European Union GDPR requirements, processes, and procedures and is fully compliant for customer privacy & data protection norms.
Ravi Gupta, Founder & CEO, SafexPay, said, “At SafexPay, we’re proud to integrate PayByFace with our comprehensive payments platform and wish to develop an India-focused contactless payment experience with the help of established payment networks and partners. We have already received a mandate to run pilot project from well-established Multinational Conglomerates headquartered in India.”
"We need leaders and innovators in the market to show people what's next," says Mihai Draghici, Founder, PayByFace. Expanding on the investment from SafexPay and how then intend to capture the Indian market, he added, "For us, data security is the first and the foremost priority. We are continuously looking for ways to enhance potential vulnerabilities."
SafexPay is a comprehensive payments platform revolutionizing the fintech ecosystem across the globe. The strategic investment in PayByFace showcases their vision of building innovation in India for the rest of the world. The introduction of PayByFace in India will enhance value for the end consumers.
Now, any business can implement a cost-effective, frictionless, checkout experience using the PayByFace platform. Through PayByFace, the in-store contactless purchase experience can be enhanced with a simple 2D-enabled camera device, like mobile phones, tablets or a POS.
SafexPay's long-term goal is to develop collaborations with supermarket chains, restaurants, mall chains, etc, and become the first Self-Check-Out solution where the user can pay for shopping in a fast, simple and secure way.SafexPay wants to develop the project globally, but in order to achieve this ambitious goal, it is vital to systematically assess the platform's security and ensure optimal confidentiality, integrity and data availability.
SafexPay mitigates this risk by partnering and integrating with their proprietary payment platform ahead of time to remain operational and within regulatory compliance at all times”
This strategic investment proves the commitment of Indian fintech to becoming a top player on the global fintech innovation roadmap.
Safexpay, the fastest growing fintech in India which specialises in tailor made payments platform for businesses of various sectors company is focussed on pioneering top fintech innovation for the world with it's comprehensive, robust and innovative solutions including White label suite of Payment Aggregation Platform & Neo-banking. The Omni channel payment platform offerings is well accepted by its customers in Government, Education, E-Commerce, Banks, Fintechs & all other industries.