APPNIT Technologies Simplifying Financial Transactions

CIOReview Team | Tuesday, 21 March 2017, 09:54 IST

The rise in adoption of cloud and other emerging technologies has paved the way for the increase in the demand for SaaS solutions. Advantages such as ease in product roll-out, easy scalability and minimal maintenance bound together with the growing number of SME’s are all playing a crucial role in driving the SaaS market to reach greater heights. However, this growth in the SaaS industry has brought some major issues along with it, such as security, performance along with compliance to government regulations and more. Noida based, APPNIT Technologies aims to mitigate the aforementioned challenges by taking a heuristic approach, describing customers the SaaS infrastructure in depth, explaining what is behind the bars before at hand.

Amongst the early entrants into the money service technology solutions segment, APPNIT is an innovative solutions provider working closely with the mobile OEM and financial inclusion companies. The payment service provider has developed a payment gateway and mobile wallet under the SaaS model, christened Oxymoney which is also the firm’s flagship product. APPNIT recently received the RBI in-principle approval for Pre-paid Instrument ( PPI) for operating digital wallet. “Currently we work with clients not only for payment processing but also enable them to manage their payment linked services,” delineates the Founder and CEO of APPNIT Technologies, Nitin Kapoor. Taking us through the solution, Nitin Kapoor explains, “Let’s assume, you have a school and want to accept online payments, but you don’t have online ERP to support. This is where APPNIT comes to your rescue with Oxymoney, wherein you only have to share the required information and details one time and we are all set to help you out managing your online payments.”

A Robust and Scalable System

APPNIT’s Oxymoney, the mobile wallet cum payment gateway, provides payment-processing services to clients. The solution accepts payments through various modes like credit cards, debit cards internet banking, cash cards, wallets, IMPS and UPI, enabling easy integrations and making operations hassle free. Oxymoney is a robust and scalable system capable of carrying endless transactions without any worry. It works on the B2B2C (Business - Business - Customer) model and always looks for easing out experience for customers which in return simplifies the efforts of the clients.

Cost Efficiency and Quicker Delivery

The fact that Oxymoney is in a recent yet booming domain i.e. the fintech domain, makes cost-efficiency a conventional yet significant feature which also happens to be the key to success for the product and probably the only way to work. As Nitin Kapoor rightly quips, “In fintech if you are not cost-efficient then you will be business deficient.”

Keeping aside cost-efficiency everything else in the fintech space is about quick delivery. Acknowledging this reality, Nitin Kapoor says, “We work on payment and transactions where the delivery of services and products is completely dependent on our product strength. Every nano-second counts in our transaction processing. And this is exactly what we endeavour to deliver.” The professionals at APPNIT systems have designed the solution to handle enormous load. Nitin Kapoor further adds, “At the backend of the solution, we are connected to the various nodes which help us in achieving good transaction efficiency by distributing the load.” The solution is also equipped with strong security features that safeguard the user’s transactions against fraudsters. On top of the unique features of the solution sits a round-the-clock high quality support system that ensures that the users are able to optimize Oxymoney for business productivity.

Ceaseless Endeavour to Emerge in the Top League

The current industrial landscape is bombarded with the continuous emergence of new concepts and technologies, whereby various organisations are facing concerns like declining margins and globalization. Thus, they are now turning towards IT to aid them in this process and maintain their competitive edge. Oxymoney manages the complete payment system and lets the customer develop its strategy and agenda for a smooth customer satisfaction. This flexibility to work as per market needs help differentiate the firm from other players in this segment. APPNIT brings in a rich experience to the table that has been moulded from customer engagements around the world delivering technology driven business solutions that meet the strategic objectives of clients. The firm also showcases an enviable clientele from the various verticals such as education, transportation, financial inclusion companies, mobile OEM with leading names like RIIM Pune, UPSRTC, FIA Technologies, ASUS, IN FOCUS and many more. Currently, the team at APPNIT is focused towards emerging among the top league of digital payment and is striving ceaselessly to continue bringing in new products around digital payments and making it easy and meaningful to use. “We dream to serve at-least half of nation’s population through our products and services”, concludes an optimistic Nitin Kapoor.

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