Route Mobile Limited, CPaaS (Communication Platform as a Service) provider for enterprises, over-the-top (“OTT”) players, and mobile network operators, announced the launch of Payment as a Service – Click2Pay, an instant payment solution designed to simplify communications commerce & deliver a seamless conversational experience.
It’s communications commerce solution which will include all business communication channels, with a flexible option to integrate payment platforms of choice. It is embedded with enhanced AI algorithms, advanced analytics, unified payment APIs that will ensure cost optimisation making the payment reminder messages more informative & actionable.
As a part of “Bring your own Payments’ philosophy, the payment solution is developed to adapt to the evolving needs of the customer and it connects an existing payment system with the conversational flow of the existing communication channel. It reduces the number of steps required to complete the payment and induces a positive customer experience that translates into higher conversions and retention rates for the brand, the company said.
“The payment process and collection cycle can be both annoying and cumbersome. Our instant payment solution facilitates easy payments / collections by embedding our URL management platform Acculync for users to use our Tap2Pay with their app of choice. This allows customers to make payments on a single click, making the payment collections hassle-free, thereby delivering a more connected experience for enterprises & customers,” said, Rajdipkumar Gupta, MD & Group CEO.
The Payment as a Service is live on WhatsApp Business Platform, other communications channels are expected to follow soon. Customers can use the UPI app of their choice which is already installed on their devices and make secure payments. This can be used across various industries for cCommerce for D2C companies (Conversational Commerce), premium payment, loan EMI, credit card payments, utility bills, DTH payments, medical bills, school / college fees. Enterprises do not require any additional development.
“We can enable enterprises to simplify the payment process by automating and accepting payment from customers using actionable messages for payment reminders. By designing communications commerce workflows, Route Mobile presents an opportunity to enterprises to simplify the payments process & experience more seamlessly using our payment gateways. We are also bringing in the concept BYOP – Bring Your Own Payments, in which we can integrate any existing payment gateways that the enterprise is using,” said Milind Pathak, Group CBO.
Data released by the Reserve Bank of India (RBI) showed that in January-March 2021, mobile transactions recorded a 96 percent growth in volume to 8.32 billion, while in terms of the value they saw an over 104 percent increase against the same quarter of 2020 to Rs 32 lakh crore.