QPay: Securing E-payments with Robust Digital Payment Solutions

CIO Vendor The digital payments market is witnessing an exponential growth and is proving to be quite a challenging sector. The ubiquity of smartphones Tand reduction in internet charges is propelling the adoption of this trend pan India, rural and urban areas alike. The digital payment landscape has a bright future where QPay has ventured. However, vendors and customers have their inhibitions towards the implementation of such solutions due to the inability to brace themselves from malicious security attacks and data breaches. Catering to SMBs and large enterprises alike, Chennai situated QPay, channelizes the combined experience gained in Card Processing and acceptance to deliver complex systems and processes that enable highly secure transactions and are PCI DSS 3.2 compliant. Additionally, the solution possesses very stringent KYC processes and an in-built robust fraud management system to monitor, track and prevent any fraudulent activity.

Understanding the working of this solution, the system will analyze,validate and verify each transaction data against a broad range of parameters, prior to submitting a request for authorization, to ensure that the transaction is genuine. This process improves the transaction success rate and reduces potential charge back losses. Continually striving to ensure highly secure transactions, QPay works towards incorporating unique transaction authentication and security features to address the security and fraud issues in payment processing.

Endeavoring to be a top-notch leading payment solution provider in this domain, QPay proffers the perfect blend of both horizontal stack and vertical specific payment products. Apart from the core payment gateway solution, the company extends its services with cutting-edge payment products for the Retail and Education industry thus catering to small and large merchants alike.

The deep industry knowledge gained in the European market has equipped the company to foresee and gear up for any change. While the
Union government was issuing a circular to all CBSE schools to accept online payments in December 2016, the QPay team was already developing their novel Shiksha product. With the notice being extended to higher educational institutions by the Government, Shiksha works as the perfect payment collection product for educational institutes with its key advantage being that the functionality is not dependent on the availability of any computerized system. Facilitating the easy and efficient collection offees, students, parents or guardians can make the requested fee deposits any where and anytime.

QPay works towards incorporating unique transaction authentication and security features to address the security and fraud issues in payment processing

In conjunction with this, when India was struck with the demonetization movement, QPay ePOS solution was conceptualized during this period. With complete flexibility, a mobile payment solution has been engineered for small retailers without websites to accept digital payments. Additionally, the solution enables Card Not Present(CNP) transactions assisting merchants in easy payment collections thereby saving time.

Having attained a successful response towards their innovative products, the team is currently working on a device based solution to augment the ePOS product and add a host of new features to the products. Mapping out the company’s future expeditiously, Sivaprakash, Co-founder & MD of QPay says the company envisions working on Payment Kiosks, Virtual malls, and other features. Further more, QPay intends to venture out and develop customer -focused products apart from the merchant-centric vertical based products.