OmnyPay was founded in 2014 with a mission to create a better mobile payment platform for all stakeholders in retail space. The founding trio Ashok Narasimhan, Mohammad Khan, and Bill Melton together bring over a hundred years of experience in the payments, digital commerce, and retail industries to the table. The founders sensed a need for a holistic and retailer oriented platform after they brainstormed over factors that plague the retail arena. “Current electronic payment methods cut down the profit margins and contend with merchants for ownership of the primary relationship with the customers,” shares Narasimhan, who also heads the company as its CEO. OmnyPay addresses this challenge by bringing power back in the hands of merchants to become a trusted advisor to its shoppers, making their in store journey most pleasant, in turn gaining their loyalty.

The San Francisco, CA based company provides white label cloud based solution to retailers that augments existing backend and in store systems, allowing for the coalescing of offline and online retail processes. Not only does this allow for a quick, seamless and rich checkout, it can also combine offline and online shopping activity in a single transaction that can be paid through retailer branded store card or any other retailer preferred payment method. “Suppose, a buyer selects pants and shoes in store. Pants are in stock but shoes are unavailable for the right fit,” explains Narasimhan. “Our system allows choosing shoe size through the mobile app. The buyer can utilize our platform to pay for the pants and shoes while in the store, and shoes of appropriate size will be shipped to his house.” The solution’s functionalities also enable expedited checkout and self-checkout that are keys to improve customer satisfaction in store. “Large retailers are able to slash time spent redeeming coupons, rewards and promotions by 80 percent using OmnyPay’s expedited checkout,” says Narasimhan. Self-check out minimizes the staff deployment at the store as the customer makes a purchase and pays through mobile.

“From branded contextual offers, to checkouts, to quick signup, our solution encompasses all aspects of retail and secures every transaction,” states Narasimhan. OmnyPay stores all credentials through a combination of tokenization and a cloud-based secure element, making OmnyPay a robust secure system for transactions.

OmnyPay applies equal efforts and follows holistic approach to solve other conundrums in the retail arena.