<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-1-2.webp" alt="M2P Fintech" title="" width="100%" height="284">Home to 61,400 startups (registered with DPIIT, Govt of India), India hosts the 3rd largest startup ecosystem, after US and China. These newbies drive the digital economy through their innovative technology adoption, mobile-first, and customer-centric strategies.Dedicated to supporting such fledglings with their digital transaction needs is Karbon, another fintech startup with best-in-class expertise in corporate banking.Founded by Pei-fu Hsieh and Amit Jangir in 2019, Karbon helps growing businesses issue cards, manage payouts and deliver loyalty programs for their customers. Their Unique Selling Proposition helps companies scale faster, as Karbon promises quick corporate cards issuance without any fixed deposits or personal guarantees.<h2 class="heading-node" id="28d5">Need for card issuance support</h2>Though Karbon delivers hassle-free banking solutions with terrific business models and expertise in managing new-age corporate banking, they needed support with card issuance. They were looking for a reliable card partner with a strong banking network, to facilitate seamless card issuance.<h2 class="heading-node" id="c08e">Co-creating solutions</h2>After evaluating several issuers, Karbon chose to partner with us. Our strong banking network proved to be a strong vantage point for Karbon to deliver its powerful banking solution. At present, we run Karbon card solution program on both Visa and MasterCard rails.We help Karbon by taking complete charge of end-to-end payments, operations, reconciliation, and market dynamics strategies. Our focus areas enable them to capture a significant share of the SME, MSME, and start-up market and to capitalize on the first-mover advantage.This is what Amit Jangir, the co-founder of Karbon had to say about our relationship.<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-10-4.webp" alt="M2P Fintech" title="" id="3965wgy0a" width="100%" height="284">Benefits achieved<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-9-4.webp" alt="M2P Fintech" title="" id="824iw670n" width="100%" height="284"><h2 class="heading-node" id="4cee">How we help Karbon achieve 30% increase in transaction volume</h2>We leverage our trusted bank partnerships and facilitate seamless onboarding, Know Your Customer (KYC), card design, and collateral finalization. By serving as a switch, we enable transaction authentication and authorization, in addition to reconciliation and settlement.Bank partnershipBank partnerships are a critical part of any card issuance program. We leverage our SBM Bank partnership and help Karbon with payment card issuance.Onboarding corporates and individualsSeamless onboarding, <a class="link" href="https://m2pfintech.com/blog/know-your-customer-kyc-the-need-for-authentication/">Know Your Customer (KYC), </a>and Know Your Bank (KYB) procedures form the perfect first impression for customers. We help Karbon smoothen KYB, KYC, and VKYC processes, as regulated and approved by SBM Bank protocol. This includes activities such as picking up KYB documents from corporates to onboarding and creating frictionless verification via Aadhaar, OTP, and PAN validation.Card design and collateral finalizationInitially, Karbon had a vanilla card design, which is a basic credit card with minimal to zero perks and fees. We recommended the need to&nbsp;<a class="link au ml" href="https://m2pfintech.com/blog/payment-cards-design-made-simple-heres-what-you-need-to-know/" rel="noopener">enhance card design</a>&nbsp;for their virtual and physical cards. Our card design team revamped and customized card designs by placing logos in the right places and we also obtained the necessary approvals from the card network and bank.Transaction authenticationWe act as a switch for transaction authentication and function as authorizers for transactions, as per the parameters defined by Karbon. When a transaction is initiated, the acquirer will send data to&nbsp;<a class="link au ml" href="https://m2pfintech.com/" target="_blank" rel="noopener ugc nofollow">M2P</a>, and we will take auth approval from Karbon to ensure that the right debit has taken place. No matter what, we ensure that the decision-making power always lies with Karbon.Reconciliation and settlementAs Karbon’s card program manager, we handle reconciliation and settlement. We manage card operations completely and share report dashboards with Karbon to drive data-driven decision-making.Now, this is not the end of the story. We hope to support startup ecosystems and established players across the globe with scalable, secure, and compliant card issuance and management solutions.Do you need help with card issuance?Get in touch with us at&nbsp;business@m2pfintech.com.<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox. Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

How M2P helps Karbon increase its transaction volume by 30%?

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-11.webp" alt="M2P Fintech" title="" width="100%" height="529"><a class="link" href="https://m2pfintech.com/blog/fintech-a-catalyst-for-financial-inclusion/">Financial inclusion</a> is the key to sustainable development worldwide. In India alone, around 190 million people do not have access to banking services. This makes India the second-largest underbanked nation after China.Simple, hassle-free access to financial services helps people achieve financial freedom. Providing untethered access to salary and incentives is the road to financial independence and social security.<h2 class="heading-node" id="d1fa" style="text-align: justify">A bumpy road to financial freedom</h2>People in the blue collared sector are usually excluded from the mainstream financial ecosystem as they do not have a structured way to receive salaries, save, and track their spends. Fintechs like Zenpay facilitate this financial access by offering inclusive <a class="link" href="https://m2pfintech.com/blog/future-of-payments-processing-matched-with-industry-needs/">digital payment solutions</a> such as zero-balance salary accounts, payroll cards, and gift cards. They enable blue-collared workers to digitally access salaries and incentives without any paperwork and also save, spend, and track their finances efficiently. Though Zenpay literally revolutionized the banking sector by enabling simpler, more efficient, and transparent payments, they faced key challenges in security, <a class="link" href="https://m2pfintech.com/blog/pci-dss-the-payments-armour/">PCI-DSS compliance</a>, and infrastructure design. As more and more customers adopted digital payments, the transactions and data became highly vulnerable to malicious activities. So, Zenpay wanted a <a class="link" href="https://m2pfintech.com/blog/future-of-payments-processing-matched-with-industry-needs/">payments processing solution</a> and a token service provider to enable highly secure and seamless financial services to blue-collared workers.<h2 class="heading-node" id="0a13" style="text-align: justify">Powering card security, operations, and infrastructure</h2>M2P collaborated with Zenpay to help smoothen hurdles in card security and infrastructure. We deployed our comprehensive <a class="link" href="https://m2pfintech.com/blog/how-to-implement-the-best-prepaid-payment-instrument-ppi-for-your-business/">PPI </a>APIs to overcome the challenges Zenpay faced. Our solution created a strong base for Zenpay to partner with VISA and NPCI (National Payments Corporation of India) and enable salary cards and gift cards.<h2 class="heading-node" id="f9bc" style="text-align: justify">End-to-end tokenization</h2>Securing cardholder data through <a class="link" href="https://m2pfintech.com/blog/how-does-payment-tokenization-work/">tokenization</a> is critical for businesses to prevent cybercrimes. However, tokenization consumes a lot of time and effort when done in-house. So, we acted as a token service provider (TSP) to manage tokenization and enabled Zenpay to focus on its core competency and manage customer retention. M2P handled the generation and issuance of payment tokens and the operation and maintenance of a token vault. We also offered PCI-DSS widgets to lower the cost for PCI assessment and the time spent on PCI compliance procedures.<h2 class="heading-node" id="da2c" style="text-align: justify">Seamless card program management</h2>Customers today prefer banking apps that are bug-free, quick to load, easy to operate with hassle-free onboarding. Choosing a program manager is critical to enable seamless operations and user experience. M2P served as a robust program manager to Zenpay and was responsible for security, quality assurance, technology integration, migration, customer engagement, reward strategies, and banking relationships. We risk proofed Zenpay’s technology infrastructure for a flawless and high-quality banking experience.<h2 class="heading-node" id="f46d" style="text-align: justify">Scaling up for 250% rise in customer base</h2>Customers expect more hyper-personalized services when it comes to digital wallets. M2P helped Zenpay ensure new customer acquisition and retention by delivering an amazing user experience. Zenpay upgraded its user experience from receiving voice notifications to image recognition.Enabling the best user experience, Zenpay expanded its customer base by more than 250% in just 10 months, with a whopping increase from 35,000 to 125,000. M2P helped Zenpay scale up by offering robust, secure, and bug-free API infrastructure.Zenpay also increased the total number of customer transactions by 47%. As a result, the transaction volume increased from 180 crore transactions to a whopping 265 crore transactions in 10 months.<blockquote class="block-node" id="nfhkrm6a3">Approachable. Innovative. Solution-centric. The experience of working with M2P has been nothing short of wonderful! Superior support, fast TAT, a wide range of solutions, and most importantly, end-to-end ownership from sales to technical integration. M2P helped us grow our customer base by more than 250%.</blockquote>– Ankit Bhargava, Founder &amp; CEO,&nbsp;<a class="link au my" href="https://zenpaysolutions.com/" target="_blank" rel="noopener ugc nofollow">Zenpay Solutions.</a><h2 class="heading-node" id="74a1" style="text-align: justify">The buck doesn’t stop here</h2>Using M2P’s tech-stack, Zenpay plans to deepen its services and products in the future. Both the companies will collaborate to enable greater financial inclusion and freedom through services that include QR code-based payments, bill payments, UPI integration, and microloans.Are you looking to enable inclusive financial services? Need help with card infrastructure and program management?Get in touch with us at <a class="link au mg" href="mailto:business@m2pfintech.com" target="_blank" rel="noopener ugc nofollow">business@m2pfintech.com</a><a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

Tag: "Customer Story (2)"

M2P Fintech