by IppoPay Technologies Private Limited
IppoPay is a Chennai-based payments company built for a different customer than Razorpay or Cashfree target — small merchants, freelancers, "homepreneurs" and shopkeepers in Tier-2 and Tier-3 towns, rather than large enterprises or high-volume D2C brands. It was founded in 2020 by childhood friends Mohan Karuppiah (CEO) and Jaikumar R (CTO), and is run by IppoPay Technologies Private Limited, incorporated on 11 November 2020 (CIN U72900TN2020PTC139372), registered at IndiQube Excellence, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai. The product line goes wider than a plain payment gateway: UPI/QR collection, a sound-box device for audio payment alerts, POS and ePOS billing, payment links and payment pages for merchants without a website, subscription billing, social-commerce checkout, cross-border currency collection, payouts, and short-tenure merchant lending. Pricing is public on ippopay.com/pricing: 1.9% on all credit cards, debit cards, net banking and UPI, 3.5% on international Visa/Mastercard/Amex cards, with "no setup, monthly, or hidden fees" and GST charged on top of the fee. Domestic settlement is T+2 working days, international T+3, with weekends excluded from the count. The fact worth knowing before signing up sits in IppoPay's own Terms & Conditions: the company explicitly states it is "not a bank, payment system operator or authorised payment aggregator" and does not represent itself as licensed or authorised by the RBI to undertake payment aggregation or settlement in its own capacity — all processing and settlement runs through partnered, RBI-regulated banks and payment aggregators. That is a materially different footing from Razorpay, Cashfree or PayU, which hold RBI Payment Aggregator authorisation directly. On the Google Play Store, the merchant app "IppoPay for Stores" (com.ippopay.store) has 100,000+ installs, is actively updated (last update 16 June 2026, first released 16 January 2021), and carries a 4.0 rating from 1,691 reviews. The separate iOS listing, also called "Ippopay for Stores" (bundle ID com.ippopay.storeios), shows 3.1 from just 8 ratings — too small a sample to draw much from, but notably lower. Independent written reviews are thin for a company this size: a handful of Techjockey reviews describe it as cheap and easy for small merchants but light on enterprise features (no recurring billing for teams, no advanced analytics, no bulk payouts), while consumer-complaint forums carry a small number of specific gripes about money getting stuck and slow resolution.
4/5 on Google Play Store, "IppoPay for Stores" (com.ippopay.store) — 4.0 from 1,691 ratings, 100,000+ installs. App Store India (Ippopay for Stores, com.ippopay.storeios) shows 3.1 from just 8 ratings. · Last verified 2026-08-08
No — and IppoPay says so itself. Its Terms & Conditions state it is "not a bank, payment system operator or authorised payment aggregator" and does not represent itself as licensed or authorised by the RBI to undertake payment aggregation or payment settlement activities in its own capacity. Processing and settlement run through partnered banks and RBI-regulated payment aggregators instead. That's a different footing from Razorpay, Cashfree Payments or PayU, all of which hold the RBI Payment Aggregator authorisation directly in their own name. If holding the licence directly matters to you, factor that in before switching.
As published on ippopay.com/pricing: 1.9% on all credit cards, debit cards, net banking and UPI payments, and 3.5% on international Visa, Mastercard and Amex cards. There's no setup fee or monthly fee — GST applies on top of the transaction fee. Domestic settlement is T+2 working days and international settlement is T+3 working days, with weekends not counted.
IppoPay was founded in 2020 by childhood friends Mohan Karuppiah, who serves as CEO, and Jaikumar R, the CTO. The operating entity is IppoPay Technologies Private Limited, incorporated on 11 November 2020 (CIN U72900TN2020PTC139372) and registered in Chennai, Tamil Nadu.
It's positioned specifically for that segment — freelancers, homepreneurs, and small shopkeepers in Tier-2/3 towns — rather than large enterprises. Techjockey reviewers who switched from bigger platforms describe it as quick to set up with transparent, published pricing. The trade-off is depth: reviewers consistently note the absence of enterprise features like team-level recurring billing, advanced analytics, bulk payouts and loyalty tools, and independent review volume on sites like Trustpilot and G2 is essentially nonexistent, so there isn't much third-party evidence to weigh against the vendor's own claims.
The Android merchant app, "IppoPay for Stores" (package com.ippopay.store), has 100,000+ installs and a 4.0 rating from 1,691 reviews as of August 2026. The iOS app, also called "Ippopay for Stores" (bundle ID com.ippopay.storeios), shows 3.1 from only 8 ratings — too small a sample to weigh heavily, but the direction is consistent with a rougher iOS experience.
Hand-picked videos to help you get started — tutorials, demos, and reviews.
Q&A with the IppoPay Team | Fireside Chats with CEOs - Ep 5 | Sidd Ahmed
IppoPay is a powerful Indian alternative to these international apps:
Yes, IppoPay by IppoPay Technologies Private Limited is an Indian alternative to Stripe. It offers similar functionality while being developed and maintained in India.Explore other Indian alternatives to Stripe →
Yes, IppoPay by IppoPay Technologies Private Limited is an Indian alternative to PayPal. It offers similar functionality while being developed and maintained in India.Explore other Indian alternatives to PayPal →
Yes, IppoPay by IppoPay Technologies Private Limited is an Indian alternative to Square. It offers similar functionality while being developed and maintained in India.Explore other Indian alternatives to Square →
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