BenePay are a UK and India based company simplifying and helping those making payments or collecting money using contact details only. It was started by ex-bankers to let payers make payments globally to bank accounts, Debit cards, wallets and disburse cash. They provide services to businesses, and to the banks as well.
What problem are you trying to solve?
BenePay’s business clients face challenges on procuring payee details, payments getting rejected, storing payee details and complying with data laws, and importantly payment frauds from tampering and stealing of their customer or vendor data. And, to compound their problems, they have to use multiple complex solutions and processes to collect money.
How are you solving that problem?
BenePay provides an integrated solution combining technologies for biometric verification and secure data encryption with payment processing. BenePay helps businesses on both collecting money and make payments with single API.
How has the pandemic impacted your company?
It has definitely been a challenge in reaching out to the customers and investors, as our new launched services require initial customer education. We have been leveraging all the available virtual tools to engage our potential clients.
On the other side, lockdown enabled us to strengthen our remote working processes. Since we are a 100% remote working with teams in three countries, we leveraged the evolving collaboration tools extensively.
Where do you see your company going in 5 years?
We want to help all the Payers and Payees simplify their payments processing securely. BenePay will be the Go-To provider for businesses to make payments and collect money from any continent. BenePay will establish as a reliable and recognised brand for users globally.
What is the next big challenge in information security?
Users not having any control on the data they provide to various businesses is a real problem. Businesses haven’t invested to secure the data they collect from their customers and vendors. There is a very high risk of that personal and financial data getting compromised and stolen.
How do people get involved/buy into your vision?
We want businesses and banks to collaborate with us not only to simplify their payment processing, but importantly to empower their customers and vendors to control their own data, and give them the choice on when-where-how to collect their money or make payments.