What is Juspay?
Juspay is a startup trying to revolutionize digital payments in India. Also a Tech30 company, Juspay is founded by techies, Vimal Kumar and Ramanathan and is a technology wrapper over a payment gateway to make it simpler and more efficient. Juspay is currently targeting players that have huge transaction volumes.
Juspay's Value Add
- Increase in Conversion: It is well known that decreasing the number of steps in the checkout process will improve conversion.
- Increase in Repeat customers: Once customers start storing their card information, the convenience factor will let them purchase again. Here is Cleartrip's VP Sameet Bagul's statement about Cleartrip expressway when they launched 6 months ago, “The intention of introducing the new feature is to increase the conversion rate of repeat booking, as this would eventually save a lot of time. We expect the repeat booking to go up by 25 per cent because of this added feature.”
- Happy Customers: Payment in 2 steps offers superior experience by reducing the checkout time to less than 15 seconds. It is simple, convenient and saves time for the customer.
- No Risk and No PCI compliance: PCI compliance is an expensive process to accomplish and maintain. Visa has strict enforcements against leakage of card information. Juspay takes burden of PCI compliance and the risk of storing credit/debit cards.
All redBus customers will be able to use this very soon.
We wish Juspay all the best in their endeavours and will be continuously bringing news from them.
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