Uqpay Technology (SG) Pte. Ltd. wins Fintech - Payment Invoicing Award at SBR TEA

Its e-Invoicing Solution allows merchants to send payment transaction details with secure payment links to their clients via email.

Recognising the contribution of a company’s innovative systems in the field of mobile telecommunications, Singapore Business Review’s judges have awarded the Fintech Award for Payment Invoicing to UQPay technology. This was for their e-invoicing payment platform that replaces traditional paper invoicing with payment links sent as an e-invoice.

UQPay is an international payment technology enterprise that focuses on technological innovation as its core driver. With their global headquarters in Singapore and technology R&D centre in Hangzhou, their goal is to provide merchants with one-stop global payment solutions based on full-scene applications, multi-channel acceptance, and end-to-end connectivity.

Traditional paper invoicing can be a cumbersome process. It is also prone to manual data entry errors, lengthy procedures, and disorganised validation that can lead to missed payment deadlines. Aside from paying penalty fees, invoice errors such as inaccuracy, overpayment, or duplicated payment can all lead to huge financial losses for a company.

UQPay’s e-invoicing solution provides a platform that allows merchants to send payment transaction details with secure payment links to their clients via email. Solving the connection problem between multiple merchant scenarios and payment channels, their customers can make online payments anytime and at any location.

With a free platform that allows businesses to readily set up invoices and payee information or payment requests without integrating a payment gateway, website, or app, the e-invoicing platform provides options to define the invoice content and structure payment details according to the agreement. Moreover, it gives options to set the validity of the payment link and includes other relevant expenses within the e-invoice.

UQPAY Merchant Platform gives businesses a choice of multiple payment products in one integrated solution. It operates the entire invoicing cycle, from setup to settlement. It exists conveniently within the merchant system, which allows enterprises to email invoices and tracks the status of the transaction and settlement right at the same platform.

It also speeds up the entire process and gives employees more time to focus on other important things that need their attention.

Its extensive network coverage allows a single product integration to multiple local and cross-border payment methods. This connects a broader network of buyers through the acceptance of their preferred payment methods.

Moreover, this platform makes choosing multiple payment products more convenient for businesses. Depending on company and their customers’ preferences, these payment products can also include specialised invoices for a gateway, online QR, express checkout, and digital payment tokens that are ready to be used once installed.

With more than 500 transactions recorded to date, UQPay’s e-invoicing technology makes payment collection easier, faster and more secure. It's suitable for both B2C and B2B merchants, from traditional suppliers, exporters and manufacturers to education and medical centres, that wish to collect online payments, making it a highly versatile platform that can be used across different trades and industries.

The Technology Excellence Awards, presented by Singapore Business Review, was held via studio award presentations and video conferencing sessions throughout the second and third week of April.

This year’s nominations were judged by a panel consisting of Daryl Pereira, Head of Cyber at KPMG; Cheang Wai Keat, Partner, Consulting at Ernst & Young Advisory Pte. Ltd.; Henry Tan, Group Chief Executive Officer and Chief Innovation Officer at Nexia TS; Sivakumar Saravan, Senior Partner at Crowe Singapore; Cecil Su, Director, Head of Cybersecurity of BDO Singapore.

If you would like to join the 2022 awards and be acclaimed for your company’s exceptional technological innovations, please email Jane Patiag at jane@charltonmediamail.com.