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Payment Aggregators provide merchants with the ability to accept a variety of digital payments, such as UPI, BharatQR, AadhaarPay. Payments from customers are received by Payment Aggregators, who in turn credit to bank accounts of merchants periodically.

Merchants in small towns bank with small local banks, cooperative banks, rural banks. These banks do not have a robust digital payments infrastructure delaying receipt of funds by merchants, as well as, do not have an extensive ATM network which creates friction for merchants to get access to their funds.

ISAC’s Card Stack is being leveraged by Payment Aggregators to issue cards to their merchants and to embed card features into the apps they provide to their merchants. This results in a branded experience for the Payment Aggregators and seamless user experience to the merchants. Whenever cards are used for purchases, Happay provides a Cashback which is a revenue generator for the Payment Aggregator. A part of this cashback can be shared with merchants to increase loyalty. Additionally, the Payment Aggregator gets visibility of spends by the merchant network, which can be leveraged to add more value.

Merchants: Instant access to funds,
Payment Aggregators: Branded Cards, A better understanding of the client base

Technology Service Providers (Tech companies) provide Banking / Accounting solutions to Rural Cooperatives, Nidhi Companies and NBFCs. The customers of these cooperatives and Nidhi Companies are in rural India and visit the local bank for services.

Small banks cannot afford the infrastructure to issue cards to their customers. These customers cannot make online purchases as they do not have cards. Small banks do not have an extensive ATM infrastructure. Consequently, the customers have to pay exorbitant fees to get their funds out of ATMs.

ISAC’s Card Stack is being leveraged by Tech Companies to enable Cooperatives, Rural Banks, Nidhi companies to issue cards to their customers and to embed card features into the apps they provide to rural banks. Cards become a differentiator to rural banks as they compete for customers.

Payment card as a differentiated offering

Hospital campuses currently support a mishmash of digital payments.

There are a variety of merchants and service providers at Hospitals accepting different modes of payments necessitating patients to have funds in a variety of payment instruments which is tough. Cash handling also becomes an expensive logistical issue for such companies.

ISAC’s Card Stack is being leveraged by Hospitals to issue cards to their patients and to embed card features into the apps they provide to patients. This results in a branded experience for the patients (including a branded payment card) and seamless user experience. Whenever cards are used for purchases, Happay provides a cashback which is a revenue generator for the Hospital. A part of this cashback can be shared with patients to increase loyalty.

Increase in brand loyalty, Personalised experiences, Stronger customer insights, Higher volume of spends.

College campuses currently support a mishmash of digital payments.

There are a variety of merchants and service providers at Colleges accepting different modes of payments necessitating students to have funds in a variety of payment instruments which is tough. Cash handling also becomes an expensive logistical issue for colleges.

ISAC’s Card Stack is being leveraged by Colleges to issue cards to their students and to embed card features into the apps they provide to students. This results in a branded experience for the students (including a branded payment card) and seamless user experience. Whenever cards are used for purchases, Happay provides a cashback which is a revenue generator for the College. A part of this cashback can be shared with students to increase loyalty.

Card Program Managers need to sign up with Banks and Payment Networks, invest in infrastructure and team to be able to issue cards. Alternatively, they can sign up with Card Issuers who provide a generic product.

Service providers with innovative ideas serving niche markets cannot issue cards as the fixed costs (both one-time and recurring) make the proposition unviable. Consequently, the card market has been staid and stagnant.

ISAC’s Card Stack is being leveraged by Card Program Managers to offer a variety of card programs, and to embed card features and controls into the apps to provide differentiated branded experiences to their customers and serve novel use cases and industries. A native digital platform reduces the cost of acquiring and serving customers. A branded offering with integration of card stack with the Card Program Manager’s infrastructure ensures seamless user experience. Whenever cards are used for purchases, Happay provides a Cashback which is a revenue generator for the Card Program Manager. A part of this cashback can be shared with end customers to increase loyalty.

Better understanding of clients, A more responsive solution for the clients, Branded Offering

Gig workers are mostly young and enrol with multiple platforms. They get paid for the service provided periodically (e.g., weekly).

Gig Worker: A significant number of gig workers eke out a subsistence living, have a tough time to access funds to pay for consumables required to deliver the services (e.g., fuel for the vehicle to deliver the service)
Platform: Gig workers sign up with multiple platforms, with little loyalty. Creating incentives to ensure a consistent culture which delivers quality service is a constant struggle.

ISAC’s Card Stack is being leveraged by Gig Platforms to issue cards to their service delivery partners and to embed card features into the apps they provide to their delivery partners. This results in a branded experience for the Platform provider and seamless user experience to their service delivery partners. Whenever cards are used for purchases, Happay provides a Cashback which is a revenue generator for the Platform provider. A part of this cashback can be shared with service delivery partners to increase loyalty.

Reward high performers, Higher platform loyalty