Small business payment infrastructure provider IppoPay today announced a partnership with Visa to issue small business credit cards. The company’s initiative aims to revolutionize the financial landscape, empower small business owners, and catalyze financial inclusion in Tier 2 and 3 cities and rural areas.
Mohan K, CEO and Founder of IppoPay, stated about the partnership, “This alliance with Visa marks a significant milestone in our journey.” This collaboration will usher in a new era of financial possibilities, thanks to IppoPay’s network of over 500,000 merchants. The small business segment, which has a population of over 100 million people in India, is severely underserved by traditional card providers, leaving a $330 billion opportunity untapped.”
“This segment is core to what IppoPay stands for, and given the size of the opportunity and our inherent moat in this space, we believe we are best positioned to address their credit demands,” he went on to say.
Notably, Visa recently exceeded its goal of empowering 50 million small businesses worldwide, touching nearly 67 million micro and small businesses.
Sujai Raina, VP and Head of Business Development at Visa India, stated, “We are delighted to partner with IppoPay, equipping their small business clientele with the benefits of Visa credit cards.”
In the coming months, IppoPay and its partners hope to broaden their reach, improve their services, and make financial inclusion a reality for all.