Yet another ‘first in the world’ by Juspay, launches Juspay Safe for merchants after securing funding from Haresh Chawla
How many times have you dropped out from the payments process because you kept on waiting for the OTP or you couldn’t locate the card/bank account number?
Globally, 21% of online shoppers (Statista research) abandoned their basket due to the process taking too long. To counter this problem, three months ago Paypal unveiled single click payment method for merchant apps. Dubbed One Touch, the method allows mobile users to log in once with their user names and passwords, then simply touch or click on a “buy” button for all subsequent transactions with that merchant.
Founded in 2012 by Vimal Kumar and Ramanathan, with a vision to redefine online payments experience by providing 1-click payments on web and mobile, Bangalore-based Juspay Technologies has come a step further with their latest offering, Juspay Safe. Juspay Safe is a specially designed browser for online banking and payments applications. Unlike conventional browsers that cater to generic use cases ranging from online gaming to serious banking applications, Juspay Safe’s focus is on improving security and user experience for banking. It uses innovative user interface and network optimization technologies with the focus on much needed widespread adoption of digital payments in India and change the consumer behavior to go cashless.
Juspay’s first product ‘Express Checkout’ was a wrapper on top of payment gateways with card storage. redBus.in, Snapdeal, Freecharge and Newshunt are few among many of the clients of Juspay. With both the flagship products, the company processes more than 4 million transactions per month.
Juspay Safe - Secure Browser
Juspay Safe improves the security and convenience of payments on smart phones. It is a mobile browser that can be embedded inside Apps as a replacement to the default mobile WebView browser.App developers can integrate and launch with Juspay Safe SDK in minutes.
Juspay Safe’s USP
1. High on protection
Juspay Safe contains built in phishing protection guarding the customer against malicious websites pretending to be bank pages. It also bundles a secure keyboard specifically designed for banking applications and protects the customers from third party keyboards that can log or mishandle customer’s sensitive credential information. Juspay is planning to work together with banks to increase the security of mobile transactions with device fingerprinting and advanced real time fraud prevention.
2. Utmost convenience
Juspay Safe provides compelling features to improve the convenience, thereby improving the payments success rate and decreasing the time to complete transaction. It has various features like Auto Processing OTP, Speeding up page loads on 2G, Keyboard to improve convenience of password entry and enhanced navigation controls. The focus is on making payments extremely smooth and unblocking customers who are stuck.
The company, the vision and the funder
Juspay aims to do secure, 1-click payments on mobile for one billion people and catalyze the convergence of online and offline payments. The company is eyeing at achieving 95%+ success rate for payments on mobile.
Co-founder of Juspay, Vimal Kumar says,
We provide payments technology solutions to merchants focused on improving the customer experience and success rate. We are not a payment gateway but work as a layer on top of all PGs.
Haresh Chawla, former group chief executive officer (CEO) of Network18 and Viacom18 Media Pvt. Ltd, and currently partner at India Value Fund Advisors (IVFA) has invested an undisclosed amount in Juspay. He was instrumental in growing Network 18 from US$12 million in 2001 to over US$ 500 million in 2012. An IIT-Bombay and IIM-Calcutta alumnus, Haresh had earlier invested in property portal Housing.com as well.
More than 50% of Flipkart’s revenue comes from mobile and the trend is just going pick up with ever-increasing mobile internet users in India. Whether it’s Flipkart or Snapdeal, Cleartrip or redBus.in, Juspay Safe provides promises more secure and convenient experience to everyone’s customers. As a result, the product reduces the overall dropout rate in mobile payments during the transaction process.
Vimal says,
Overall, we are a bunch of engineers and designers who deeply care about the art of building high quality products. We are heads down working hard to see the day when the majority of the people in India use the products that we create.”
Located in Koramangala, Bangalore, Juspay is now hiring designers and engineers who are religious about their craft. If you think you’re the right candidate, do not hesitate to contact them at [email protected].