d) Benchmark the current IT service standards and

d)       Benchmark
the current IT service standards and IT policies and take steps to improve the
same to ensure industry best practices


e)       Ready to
undertake major IT projects to ensure the best services to customers at optimum
cost by delivering core banking system, e-commerce, cards infra-structure and
internet platform

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Ensure the consistency and maintainability of existing
applications by creating, maintaining and enforcing standards/procedures for
implementing technical solutions across the organization.


g)       Identify
Technology related problematic areas and implement strategic solutions in time
in consultation with the Management of the company


2.7.8 Developer


developer department of iPay Systems Ltd. functions are to build the iPay
software solution using any of the effective code language, such as,
JavaScript, Java, Python, C++ and or PHP that will create the desired platform
as needed. This team is responsible for having a deep knowledge of financial
applications, such as, Banking, Credit Cards, Payment Processors, etc. as the
company is creating a culture of digital economy. The team has to be a
visionary thoughtful and be challengeable to act and react to creating a
cashless society in Bangladesh. This team is responsible for the following


Be a combination of a highly-technical hands-on
software engineer and an effective people manager.


Hold the technical discussions, to be a subject matter expert, and have
strategic influence.


Communicate cross-functionally across various teams,
organizations and internal and external stakeholders to drive engineering


Work together with product management and UX design
teams to design and develop front-end interfaces, underlying APIs and back-end
systems across different programming languages.


Encourage a data-driven culture to improve the
efficiency, scalability, stability and security of business applications and
in-house systems to help scale the company.










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2.7.9 Admin


managers oversee the support operations of an organisation. They ensure that
there is effective information flow and that resources are employed efficiently
throughout a business. Strong administrative managers are organised and
detail-orientated with good analytical skills to run day-to-day operations.
They value the point-of-view of those who are expected to operate often complex
systems. With the speed of change in business, it is important for
administrative managers to stay up to date on developments in the business and
office environment.


a)       Procurement and contract
management including preparation of documents


b)       Calculating and comparing
costs for required goods or services to achieve maximum value


c)       Management of business
refurbishments, renovations and office moves as they arise


d)       Management
and facilitating of third party stuffs and suppliers in their provision of
facilities services.


e)       Planning for future
development in line with strategic business objectives












































Page | 22

2.8 SWOT Analysis and competitors


SWOT Analysis of iPay with USP, Competition, STP –
Marketing Analysis



Parent Company

iPay Systems Ltd.


Online payment platform


IT & Technology

Tagline/ Slogan

Scan me to pay me


Online payment systems
with high customer base and






People with smartphones
looking for cashless payment



Target Group

Urban tier1 tier2 cities-
young and middle aged people


iPay can be used as an
alternate for cash to make


payments for daily basic

SWOT Analysis



1. iPay offers multiple
cashback options to customers


2. Strong marketing
campaigns have helped spread


brand awareness


3. Word of mouth of
cashless transactions and ease of


use has been accepted well
by the people


4. Strong investments from
Ahsan Group have


strengthened iPay’s


1. Audience in Bangladesh
less the savvy as majority


consider cash as primary


2. iPay has diversified
too much


1. iPay can cater to a
larger audience with some offline


presence as well


2. iPay can educated
customers on accepting cashless


transactions and online
payments which would in turn


boost their customer base


3. Offer more banking
services along with online


payment options


1. Increasing number of


2. Transaction security


3. To face strong
challenge from global FinTech like


PayPal, Payza, etc. in
near future




bKash, DBBL Rocket, Payza,
Nexus Pay, Ucash









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2.9 Ansoff Matrix for iPay Systems Limited


is the penetration, product development, market development, and
diversification strategy of iPay.
































marketers try to sell the existing product to the existing customers, they
engage in penetration strategy. It can be achieved in multiple ways. For
example, by changing pricing, by adding minor features, changing the packaging
or highlighting alternative uses. In iPay, when we pitch a customer or a
merchant to sign up for an iPay e-wallet for conducting daily transaction with
their own smartphone, we encourage them the benefits of digital payment
ecosystem which provides strong authenticity of every transaction taking place
and maintains complete date of each penny transacted. We try to encourage our
client’s to start using a digital payment platform by using different media.





have developed a digital payment platform for day-to-day transaction and we
know that the platform we are using is different and it needs regular
development and ensure strongest security, so we have to research and develop
our service according to changes need.





an existing product in different markets is perhaps one of the most used
strategies to extract full benefit of a successful service. A very common
example is entering the service in different geographical areas nationally and
internationally. The digital payment platform





Page | 24

first established by PayPal, who is the pioneer of online payment platform in
the world. iPay is working hard to build a cashless society and be the pioneer
of online payment platform in Bangladesh by promoting the service with the help
of social media to connect mass people who are targeted.