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Vernost Group launches acquiring platform VePay with $5 million investment

Source: Vernost Group

Vernost Group, a leading technology solutions provider, announced the launch of its highly anticipated VePay Payments Acquiring and Orchestration technology today.

It is groundbreaking white-label solution that offers a comprehensive suite of features and benefits to empower businesses in the ever-evolving digital landscape.

A pure play technology-as-a-service solution, VePay harnesses the power of advanced AI routing, Blockchain, Analytics, and Cloud Computing and has been designed especially for banks, payment platforms, fintech, and e-commerce companies to not only significantly increases business margins but also ensure uninterrupted operations for enhanced business continuity.

With seamless integration capabilities at the core, VePay enables businesses to effortlessly connect with over 30 partners, including Mastercard Payment Gateway, Visa Cybersource, and leading aggregators such as Stripe and Checkout—propagating easy connectivity with multiple payment gateways and processors across India and the UAE.

In addition to its integration prowess, the platform provides an array of benefits to streamline payment operations through seamless merchant onboarding, customized merchant-hosted pages, hassle-free auto settlement, reconciliation, analytics, and much more. By offering a ready-to-use, efficient, and secure solution, VePay allows businesses to focus on their core operations, eliminating the need for extensive payment technology development and enhancing the overall merchant experience.

Speaking of the brand’s expansion drive, Pankaj Tripathi, Chief Executive officer of Vernost, said: “We are thrilled to launch VePay in the region, as we strongly believe it is a game-changer that will empower our clients to scale their operations and excel in the realm of payments. At Vernost, every product we develop is built from the ground up, driven by the actual needs of our customers. Our Loyalty and Engagement Product - ClubClass as well as our Travel Product VeTravel is being used globally and we have the same aspirations for VePay. Through direct interaction with them, we identified a significant gap in the market and an opportunity for us to create a product that resolves the challenges faced by merchants. With VePay, we are poised to enhance our growth strategy and make a substantial impact on banks and payment platforms worldwide."

Aligned with Vernost’s vision of helping clients reimagine what’s possible, VePay addresses the inefficiencies in operations, high costs, and lack of flexibility and security associated with payment processing faced unanimously by businesses in and around the region. Following a USD 5 million investment and successful rounds of beta testing with a select group of clients in India and the UAE, Vernost is confident in the readiness and effectiveness of VePay.

VePay has been launched on May 23, 2023, Day 1 of the Seamless Middle East exhibition, one of the largest events in the transformative digital commerce landscape. Strategically, Vernost has committed to be at the event over the next 3 years. This prestigious platform provided the perfect opportunity to introduce VePay to the market, showcasing its capabilities and solidifying its position as a revolutionary solution.

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