Driving Innovation: Anant Kochhar and Tashina Singh Revolutionize Micropayments with Yippster

In the ever-evolving landscape of start-ups, where innovation is the key to success, husband-wife duo Anant Kochhar and Tashina Singh embarked on a journey that led to the creation of Yippster, a Gurgaon-based start-up revolutionizing micropayments for digital goods. Their story, fuelled by a desire to simplify online transactions, showcases the power of simplicity and determination in the face of challenges.

Anant Kochhar, a former cybersecurity consultant who worked closely with NIC (government’s IT arm), and Tashina Singh, with a background at IT major Accenture, initially set out to establish a cybersecurity product firm. However, their innovative minds took them on a different path during a long drive from Gurgaon to Goa in their Tata Nano. The simplicity and innovation embodied by the Nano inspired them to create a product that was equally straightforward and user-friendly.

The result was Yippster, a frictionless online micropayment solution that eliminates the need for credit cards and reduces transaction friction. The platform transforms the user’s mobile phone operator into a payment gateway, allowing transactions through a simple SMS. For prepaid users, the payment is deducted from talk time, while postpaid users see the amount added to their next month’s bill.

After developing their innovative solution, Anant and Tashina took Yippster to Silicon Valley, hoping to address the ‘paywall’ crisis faced by the US newspaper and print industry. However, their initial experience was discouraging, with investors appearing unapproachable and skeptical about the product’s potential. Some doubted the viability of such a solution, while others questioned an Indian company’s ability to solve significant problems for the US market.

Undeterred, the duo turned to NASSCOM 10000 Startups, where Yippster found visibility within the Indian startup community. Selected for the fourth batch of Tlabs, Yippster began its operations, with Tashina’s strategic planning steering the ship through challenges. Leveraging the Tlabs brand, they secured partnerships with multiple online content sellers.

Yippster’s operational model involves charging content distributors on a per-transaction basis. The startup has partnered with major telecom operators like Airtel and Vodafone, offering free transactions for users on these networks while charging the merchants. As the platform continues to grow, Anant and Tashina are exploring additional revenue streams, including potential revenue sharing with telecom operators.

With over a thousand transactions facilitated and five clients on board, Yippster boasts a 20 percent repeat user rate, despite a 50 percent dropout rate for transactions. Micropayments, limited to digital goods due to regulatory guidelines, have positioned Yippster to approach digital content providers and expand collaborations with telecom operators.

In the competitive micropayments space, Yippster faces challenges from global players like CarrotPay and Flattr, along with domestic competitors such as Beam Money and MobiKwik. However, Anant and Tashina’s focus on simplicity, coupled with strategic partnerships with major telcos, positions Yippster as a formidable player in the market.

Looking ahead, Yippster aims to approach all digital content providers and collaborate with telecom operators to maximize its market reach. The startup’s willingness to explore revenue-sharing models with telcos reflects its adaptability and commitment to sustained growth.

In conclusion, Anant Kochhar and Tashina Singh’s entrepreneurial journey with Yippster exemplifies the transformative power of simplicity and innovation. Their commitment to overcoming initial setbacks, coupled with strategic partnerships and a user-centric approach, positions Yippster as a rising star in the micropayments landscape.