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iPaymy Disrupts Asia’s Payment Industry, Reports 50% Growth

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SINGAPORE /PRNewswire/ — Fintech company iPaymy is disrupting the financial landscape with its online payment platform (www.ipaymy.com). It has announced phenomenal 50% month-on-month growth in sales revenue, and has introduced new services and features on its platform to enhance the user experience.

iPaymy is Asia’s first one-stop online platform which converts users’ expenses to rewards by unlocking the power of credit cards. iPaymy users can accrue rewards for big-ticket expenses which are traditionally paid through bank transfers, such as rent, rental deposits and school fees. iPaymy customers earn rewards such as air miles, shopping and restaurant vouchers, maximising the benefits of their credit card.

“We have experienced phenomenal growth at an average of 50% month-on-month in sales revenue since our soft launch in April 2016. This demonstrates the growing demand from individuals as well as corporates to reap the benefits of credit cards to pay for items that were not previously possible. We are disrupting the landscape, and enabling users to be rewarded for merely paying their expenses,” said Chrystie Dao-Szabo, Chief Operating Officer of iPaymy Technologies.

“iPaymy bring benefits to the financial ecosystem for individual users, banks, corporates and the payment schemes including but not limited to Visa, Mastercard and American Express. Fintechs are generally viewed as a threat to banks but iPaymy complements banks’ service offerings, as there is synergy and growth potential for all parties. Corporates also love using iPaymy as it allows the Suppliers to be paid much earlier whilst giving the buyer extended credit terms (up to 55 days interest free). This way, the buyer is able to ask for early payment discounts from their suppliers,” said Ms Dao-Szabo.

Ms Dao-Szabo, a co-founder and COO of iPaymy is employee number 1. Prior to her role at iPaymy, she was an international banker whose career has spanned more than 2 decades across Europe, Australia and Asia.

The outlook for iPaymy is bright in the Singapore market – with over 1.58 million card users, who on average have 6 credit cards each, not to mention the corporate credit cards in circulation today.

Expanding List of Items Payable through iPaymy

Until recently, tenants could only pay rent through bank transfers in Singapore. iPaymy has made it possible for tenants to pay rental deposits and monthly rents on credit cards and earn rewards.

For example, a tenant that pays S$3,500 monthly rent, could earn a free return Business Class trip from Singapore to Japan just through using the iPaymy platform for less than a year (assuming they earn 1.6 air miles per dollar spent). iPaymy charges a service fee of 2.6% for all transactions on consumer credit cards. For Corporate cards, iPaymy is in talks with all the major Banks in Singapore to customise a proposition for the corporate market.

iPaymy’s services have recently expanded too, now including school fees, car park charges, condo management services, trade services and more. This allows users to be rewarded for more of their monthly spending.

Catering to Singapore’s S$22 billion Property Management Industry

iPaymy’s property management features facilitates a one-stop service for tenants, agents, and landlords to manage rental properties & payments in a more easier, transparent and efficient manner.

This is proving to be popular in Singapore, where the property management industry is worth over S$22 billion.

iPaymy provides a secure way to make and receive rent payments, keep track of lease obligations and coordinate maintenance. iPaymy has also made it easier for foreign tenants to pay rents without local bank accounts (overcoming inconvenience and cost of international money transfers for new arrivals), whilst earn rewards from their credit cards.

With automatic alerts landlords and agents can receive real-time notifications when rent is paid, and can plan lease renewals, while tenants can track air-con servicing and more.

iPaymy will be exhibiting at Booth #329 at the Singapore FinTech festival on November 16 & 17.

About iPaymy
iPaymy Technologies is a fintech company headquartered in Singapore. iPaymy (www.ipaymy.com) is Asia’s first one-stop online platform that allows its users to convert their expenses into rewards, through unlocking the power of their credit cards. For more information, visit http://www.iPaymy.com.

Source: iPAYMY TECHNOLOGIES PTE LTD
Related Links:
http://www.ipaymy.com

Written by asiafreshnews

November 11, 2016 at 11:20 am

Posted in Uncategorized

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