Global payments company PayPal has selected four financial technology startups as part of its ‘Start Tank‘ incubation programme in Chennai. The startups selected are CashFree, D-Rewards, Notifie and ftcash. PayPal will offer the companies with technology and business mentorship, infrastructure support and networking opportunities.
PayPal’s Start Tank programme, started in 2013, looks for startups with focus on core payment features such as wallets, gateways and remittances, as well as payments enablers and adjacencies like biometric authentication, security and financial inclusion.
The current startups are:
– CashFree, founded by Akash Sinha and Reeju Datta, enables a better buying experience for making online and cash transactions. The company doesn’t mention much about its operations other than it wants to simplify the way people pay for their products they buy every day.
– D-Rewards was founded by Vijay Krishna and Shoaib Mohammed and offers a cloud-based CRM tool for offline small business retailers that enables end-to-end customer engagement using loyalty as a platform for profiling. It features in-house analytics & targeted promotions.
– ftcash, founded by Sanjeev Chandak, Deepak Kothari and Vaibhav Lodha, operates in the financial inclusion space and aims to empower the micro-merchant sector with mobile payments. It provides solutions for micro-merchants to accept payments through multiple payment instruments including debit cards, credit cards and mobile wallets.
– Notifie, founded by N. Raja Chinnathamby and Arun Nedunchezian is a messaging platform which looks to simplify notifications for offers from restaurants. According to its blog, Notifie’s messaging platform helps businesses target potential customers while customers have full control over what messages they receive from which business. The app is available on Android and iOS and allows customers to subscribe/unsubscribe to messages based on their personal preference.