Advanced Solution for Contactless Payment Systems
AS Technologies, an early-stage fintech startup founded in January 2017, has made a significant leap in the payment industry with its innovative card scanning feature. This feature, introduced as the key product innovation, replaces the need for traditional swipe machines, marking a new era for merchants.
The company aims to become a one-stop solution for merchants, offering a wide range of services including tap payments, mobile ATMs, full-fledged payment gateways, virtual credit cards, BQRs, and more. By eliminating operational complexities associated with swipe machines, such as daily charging, network issues, and the need for multiple machines for multiple cards, AS Technologies is simplifying the payment process for merchants.
AS Technologies is in conversation with bankers to become network partners as a hardware-less solution to accept card payments. The card scanning feature executes transactions using two-factor authentication, ensuring secure and reliable transactions.
The target customer segments for AS Technologies are micro, small, and medium-sized retailers, corporates in the home delivery segment or home services, and professionals/freelancers. To cater to these segments, AS Technologies offers an alternative to card swipe machines that operates solely on a smartphone.
AS Technologies has partnered with the Federal Bank and HDFC Bank to offer UPI payment services, allowing merchants to send payment links and accept remote payments, as well as use QR codes or intent for UPI payments. The company also offers value-added services such as a cash register, bulk messaging feature, team management, and analytical dashboard.
In an effort to continuously innovate and stay ahead in the fintech space, AS Technologies collaborates with SMEs, consultants, ethical hackers, and participates in sandbox challenges, industry, and academy forums for product enhancement. The company went live with operations in mid of 2018 and plans strategic expansion into major cities like Mumbai, Hyderabad, Bengaluru, and cities like Jaipur, Ahmedabad.
AS Technologies eliminates the need for a bluetooth connection to phones while transacting, providing cost advantages to its clients by eliminating the need for hardware and associated maintenance costs. The company is also exploring alliance partnerships with banks, NBFCs, etc., to penetrate deeper and faster in 2020 and open more revenue sources.
The CEO of AS Technologies, Saxena, emphasizes the need for continuous innovation in technology to stay ahead in the fintech space. AS Technologies integrates the 'card present' scenario with the 'card not present' process to empower merchants to accept cards with just a smartphone, addressing the inconvenience of carrying a swipe machine for home delivery orders by migrating to a mobile app.
With its innovative solutions and commitment to simplifying the payment process for merchants, AS Technologies is set to redefine the payment landscape in India.
