IppoPay, a provider of payment infrastructure for small businesses, has announced its collaboration with Visa, a global digital payments company. Together, they will be introducing credit cards specifically designed for small businesses, according to a press release.
The partnership aims to transform the financial industry, empower small business proprietors, and promote financial inclusion in Tier 2 and Tier 3 cities as well as rural areas, according to the release.
“The small business segment, which represents a base of over 100 million in India, is deeply underserved by conventional card providers, leaving an opportunity of over $330 billion completely unaddressed,” says Mohan K, CEO and Founder of IppoPay.
With IppoPay’s network of over 5,00,000 merchants, this partnership will usher in a new era of financial possibilities, adds Mohan.
Talking about the partnership, Sujai Raina, VP and Head of Business Development, Visa India, says, “We believe this will also promote deeper financial inclusion in a segment that is crucial to catalysing economic growth.”