An Indian ex-pat in Dubai created a payment app with the help of a top mobile app development company in UAE. Because he shared the UAE’s ambition for technological growth, Prabh Singh, the co-founder, and CEO of TigerPay, said goodbye to his promising job and embarked on an entrepreneurial adventure by entering the technology sector.
So let’s get started and discover all the solutions for you. However, before we begin, you should understand what TigerPay is. Do you know what Tigerpay is?
What is Tigerpay?
TigerPay is an eWallet that enables simultaneous holding and usage of several fiat currencies. The initiative was started to help the payments sector of the economy. The company’s founders claim they decided to develop solutions to avoid the difficulties that arise when complex computations are required to exchange currencies. There should be appropriate tools to simplify the process and make it more economical.
You just read what TigerPay Is. You must be curious about how does Fintech helps to make this app?
How does Fintech help to make this app?
The term “fintech,” which stands for financial technology, is essential in developing applications like the one that an Indian ex-pat in Dubai has released to make it easier for SMEs in the area to collect payments. Here are several ways that Fintech may aid in the creation of such an app:
- Digital payments: To facilitate quick and easy transactions, Fintech uses digital payment technology. Credit cards, bank transfers, and mobile wallets are just a few of the payment methods that the app accepts and can interface with. It makes it possible for SMEs to accept payments from their clients securely.
- Automation and Integration: Fintech apps may interface with accounting or invoicing software and automate payment procedures. With this automation, SMEs’ complete payment collecting method is streamlined, mistakes are reduced, and manual labor is reduced. They may focus on other company processes and save time as a result.
- Mobile Usability: Fintech applications are frequently made to be mobile-friendly, enabling SMEs to access payment-related data and handle collections while on the go. With this flexibility, company owners can remain connected and keep track of their payment processes from any location, which improves ease and effectiveness.
- Analytics and Reporting: Fintech apps can offer extensive analytics and reporting tools. SMEs may monitor their payment receipts, produce reports, and learn important information about their cash flow, clientele, and revenue trends. Businesses may use this data to make defensible judgments, enhance their plans, and pinpoint problem areas.
Overall, the creation of payment applications that streamline payment collections for SMEs is made possible by Fintech’s cutting-edge technology and digital solutions. These applications boost productivity, facilitate financial management, and offer a smooth user experience for both companies and their clients.
You might be wondering what the benefits of using Fintech are.
The benefits of using Fintech
Financial technology, or Fintech, has several advantages for people, organizations, and the whole financial ecosystem. Here are a few of the main benefits of using Fintech:
- Convenience: By utilizing digital platforms and mobile applications, Fintech offers comfort. It enables customers to carry out financial transactions whenever and wherever they want without having to visit a bank or other financial institution physically. It is simple to do tasks like money transfers, bill payments, and investment management using user-friendly interfaces.
- Efficiency: By streamlining financial procedures, Fintech minimizes the time and effort needed to complete numerous transactions. Automated processes and digital workflows reduce human error, get rid of paperwork, and speed up financial operations. This efficiency increases the productivity of both individuals and enterprises.
- Access to Financial Services: Greater access to financial services is now possible thanks to Fintech, especially for underprivileged people. It has closed the gap by giving those who previously had difficulty accessing traditional financial services digital banking, mobile wallets, and microfinance options. Many people now have access to financial inclusion thanks to Fintech, giving them the power to engage in the economy.
- Savings: Compared to conventional financial services, fintech solutions frequently provide cost savings. For instance, digital payment platforms could be more affordable for businesses than traditional point-of-sale systems or checks. Fintech businesses may also have fewer overhead expenses, which enables them to provide competitive pricing and cheaper service fees.
- Innovation and Customization: Fintech promotes innovation by introducing fresh concepts and technology to the financial industry. Due to the constant creation and distribution of new products and services by both startups and well-established companies, consumers have a wide range of options to choose from. Additionally, Fintech enables customized and personalized financial experiences catered to unique demands and preferences.
These advantages show how Fintech has transformed the financial sector by offering both consumers and companies practical, effective, and cutting-edge financial solutions.
TigerPay, the creation of Prabh Singh, has revolutionized the fintech sector in Dubai. The software is changing how companies handle their money since it focuses on making payment collections easier for SMEs. TigerPay allows companies to improve client experiences, streamline payment processes, and get insightful data about their financial performance by utilizing fintech advances. If you are, Consider creating your own Android/ iOS app. If so, the Android app development company in Dubai can help you.