Fintech company iPaymy is disrupting the financial landscape with its online payment platform. 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.
