With a vision to transform India into a digitally empowered society, DokyPay announced its membership with the Payments Council of India. The Payments Council of India was formed under the aegis of IAMAI in the year 2013 and works closely with the regulators, i.e. Reserve Bank of India (RBI), Finance Ministry and any similar government, departments, bodies or Institution to make India a less-cash society.
The Indian Government’s push towards digitisation of the payments sector is the driving force for DokyPay to become a part of the PCI. With a vision to bring all folds of society under the umbrella of digitised payments, the company is building seamless digital solutions to provide convenient, safe and reliable payment services.
“The digital economy is the most important engine of competitiveness, innovation, and economic growth in the world, and DokyPay endeavours to contribute to the Digital Economy in India as well as other Belt and Road countries,” said Yang Ming, CEO of DokyPay.
PCI, which was formed under IAMAI – Internet and Mobile Association of India, represents the various companies who are operating in the payment industry in India. The council works in close collaboration with all its members to identify issues and barriers that the industry currently faces. Focused on building opportunities, the Vision of PCI is to proactively encourage ‘growth of payment and settlement systems entities’ in the country to bring digitised payment services to every aspect of society.
Founded in 2018, DokyPay is a subsidiary of Beijing T Power Technologies Pvt. Ltd., a company that has operated payment gateways in China for more than a decade now. DokyPay is a global payment service provider that strives to offer safe, convenient, professional, and simple payment solutions to merchants conducting cross-border business. DokyPay comprises experts who have years of working experience and an in-depth understanding of the payment industry. Linkyun Technologies and Spotpay Technologies India are the other Indian subsidiaries of Beijing T Power and are also providing payment aggregator services in the country. Spotpay recently acquired PCI-DSS Certification and has opened a nodal account in HDFC as per the Guidelines of RBI.
PCI-DSS is the Payment Card Industry Data Security Standard that was set up to help businesses process card payments securely, reduce card fraud, and protect sensitive cardholder data. DokyPay’s sister companies also operate in countries like Indonesia, Vietnam, Saudi Arabia, Malaysia, etc.