Obopay CEO's 3 Tips for Entrepreneurs Looking to Explore the B2B Fintech Space

Shailendra Naidu thinks fintech is an over abused word today

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The CEO of Obopay, a fintech startup that provides merchant payment platform, Shailendra Naidu thinks fintech is an over abused word today.

The moment you say fintech, people always think that you have to be there on the street and retailers should accept it and customer should use it. A lot of money expands to build a brand in the space but then when you sieve through all the noise and see enterprise segment adoption that has been really low and not many enterprises have implemented fintech solutions says Naidu.

A simple way to look at it is how much cash transaction has an organization done and you will see there is a lot of money spent in cash and why they are not doing it because the traditional financial firms are not able to provide solutions at an optimum cost to transact the expected level of transactions and hence they fall back on physical cash, he explains.

His 3 simple tips for entrepreneurs looking to tap into the fintech B2B space include:

Look at the sector where you are trying to solve the specific problem. The problems have to exist and have to be real, and the entrepreneur should know the problem is real. The enterprise will have to think that the problem is real. It is a slightly tougher journey; you need to have a lot of patience and smart choices of enterprises, which can be replicated across.

It is also the biggest danger that when you actually go to an enterprise, when you say I am giving you the solution you can get carried. There is a service and it's not a product. There is a fundamental difference between a product and a service – that focus has to be there.

If you have made anything, it has to replicate across the globe.


How to Unlock Your Company's Value in the 'Circular Economy'

Michael Smith of Regeneration.VC shares how the circular economy works and why it's good for business and our planet.

BBQ Icon Rodney Scott on Blazing Your Own Path in the Restaurant Business

Interview with famed pitmaster and food entrepreneur Rodney Scott of Rodney Scott's BBQ about every day being a good day, the truth behind "overnight" celebrity, and how cooking with soul is vital to sustained success.

3 Easy Ways To Be More Motivated

Want to tackle your to-do list in just two weeks? In this video, Ben Angel tells you how.

The Founder of Mindvalley Wants to Transform and Reinvent Education. Here's Why.

The founder of Mindvalley shares why he started his platform and discusses his new book, "The 6 Phase Meditation Method."

This Teacher-Turned-Entrepreneur Started Tutoring Kids in Parks and Churches. Today, She Runs an Education Company with Nearly One Million Followers

The CEO and founder of Big City Readers talk about why she's on a mission to make reading fun for kids and their parents. Plus, what to do if you're afraid to take a leap in your career.

Melissa Villanueva of Brewpoint Coffee on Creating Avenues for Café Owners of Color

Interview with Brewpoint Coffee CEO and Founder Melissa Villanueva about balancing community and larger ambitions, creating opportunities for people of color, and equity and inclusion in business.

4 Easy Ways to Make More Money By Training Your Brain

Mental rehearsal is a powerful psychological technique that's used by athletes, billionaires, and entrepreneurs to achieve their goals.

Tim Draper: The Crypto Crusader

Governments are resistant to change, says the billionaire venture capitalist

5 Tips to Help You Go from Camera-Shy to Camera-Ready

Media trainer Jessica Abo reveals her go-to production tips so you can feel more confident for your next on-air appearance, pitch, or presentation.

Shone Tran of Chicken Meets Rice on Stepping into Food Entrepreneurship

Interview with Chicken Meets Rice co-founder Shone Tran about pulling inspiration from tragedy, taking small steps, and thriving in business with your best friend.

Try This 15-Minute Million Dollar Morning Routine To Energize Your Day

Here are six steps you can take to amplify your energy and grow your income.

This Is Why Being a Podcast Guest Can Transform Your Personal Brand

The Founder and CEO of Scout's Agency shares why a "podcast tour" is the new PR strategy for thought-leaders.

Samantha Trottier and Hernan Regiardo of Mate Society on Creating Content People Like

Interview with Mate Society founders about authentic online connections, making money in the creator economy, and choosing the right brand deals.

9 Ways To Make 'Superhuman Focus' Work For You

In this video, Ben Angel shows you how to improve your focus and do more with your time.

Discover Entrepreneur Series

Whether you need advice on how to get your business off the ground or you’re just looking for inspiration, our video series have something for everyone. Browse our library below to find a series that speaks to you and your interests.