ENTREPRENEUR NEWS

IPAY WISHES ‘HAPPY BUYING’

IPAY MEANS HAPPY CONSUMER

Bridging the gap between an E-merchant and the consumer, IPAY Tech India Pvt Ltd, a Hyderabad based company has devised a novel initiative called ‘buy online…pay offline. The start-up founded by Mr. Krishna Lakamsani of Mumbai Angels plans to cater the majority of the market through its well-networked tech enabled stores module.

A serial entrepreneur and Harvard alumni investor with investments in 17 companies, Krishna has devised a patent pending tablet with an inbuilt E-commerce platform, which converts small stores into mega shopping malls. This module is supported by efficient customer care, best retail management bundled with abundant consumer benefitting deals. They not only lure the end customer with deals and ranges, but also offer ‘buy more within budget’ plans.

Over a million USD invested in the company that boasts of more than 600 retailers across the twin cities. Now they would like to replicate the strategy across the nation for benefiting more. Packed by a dedicated team this start-up is sure to soar to greater heights in the coming future and watching its growth could be a good lesson to upcoming entrepreneurs.

The stats say that roughly, more than 2% of internet users do online shopping and most online portals aim at this minuscule segment…in the process the war intensifies. However, IPAY looked different and planned to cater the rest of the 98% through its network of tech-enabled stores.

Normally, product cycle begins at the manufacturing point and ends up with consumer, escalating costs. To avoid the intermittent overheads and to pass on the benefit directly to the consumer, E commerce is effective. Whereas this is restricted only to the few internet users, but by this novel initiative by IPAY, even a commoner gets the ECOM benefit.

IPAY sells a business-in-box (BIB) to its retailer that contains some discount coupons, publicity material and a 2G, Sim enabled wifi tablet phone. This tablet has the IPAY ECOM platform and the retailer can start the activity immediately after opening the box.

True to its word, BIB is all about opening a sea of sales opportunities to the retailer. IPAY is destined to change the way we shop, no matter where we are, soon there would be a cost effective IPAY cash point in your vicinity. IPAY blooming…India shinning.