Chennai-based fintech firm Ippopay Technologies has appointed former Reserve Bank of India (RBI) regional director SMN Swamy as a senior advisor. Swamy, who has held leadership roles across RBI offices in Chennai, Thiruvananthapuram, Bengaluru, Hyderabad, Ahmedabad and Mumbai over a decade-long career, brings deep regulatory and banking operations experience to Ippopay.
“His insights will provide vital guidance in strengthening our product portfolio, risk and compliance frameworks and deepening partnerships across the ecosystem,” said Mohan Karupaaiah, founder and CEO, Ippopay.
Ippopay was incorporated in 2020. The fintech startup facilitates digital payments for small merchants, with a focus on driving UPI-based transactions in tier III and IV cities as well as in the rural areas. It has launched its services in Tamil Nadu while making initial forays into Andhra Pradesh and Telangana. The firm had generated a profit of Rs 128 crore, on a total operating revenue of Rs 320 crore in FY23.