iPiD, a fintech firm dealing with international payments, on Wednesday announced its launch in the Indian market, where it will seek to make cross border payments with only a phone number. The launch will make international transactions easier for Indian customers by eliminating the margin of error in entering multiple codes (IFSC codes, BIC codes etc.) that are otherwise a norm for cross border transactions.
Damien Dugauquier, co-founder of iPiD said, “iPiD is the result of innovative thinking and a step forward towards a globally connected world. We are excited to launch our services in India making it easier for remittances and payments to be made into and out of the country with trust, security, accuracy and minimal effort.”
Singapore-headquartered iPiD has also appointed Asit Oberoi as regional director to helm the South Asian operations. Asit has 30 years of experience with a track record of working at senior positions in organisations such as Yes Bank, Fidelity International, Bank of America, Standard Chartered, and Buckzy Payments.
Oberoi added, “After sailing through the rough weathers of the financial world due to the pandemic, we have built on the fast digitisation of the world to successfully create a cutting-edge technological initiative. And fortunately, I have been trusted and assigned the job of ensuring that cross-border payments become as easy as sending a text message for Indian customers. I am excited about this role and will bring in my financial and marketing expertise to the table to enable the successful implementation of this offering of iPiD for the Indian market.”
iPiD is formed with a vision to simplify cross-border payments to be as easy as a text message. The company has partnered with financial services providers such as banks, payment fintech firms, wallets, and remittance companies to deliver a suite of proxy look-up, request-to-pay and payment-to-wallet services. It is a first-of-its-kind service that makes cross-border payments easy by needing only a simple proxy for the payee’s identity. The company acts as a data orchestrator and enables global payments based on a phone number, email address, QR code, corporate registration number and other aliases.