Payments gateway operator InPayTech hopes to profit from introduction of the New Payments Platform next year and has launched an initial public offering seeking up to A$5 million of equity capital.The company is offering up to 25 million shares to investors and will have a total of 154 million shares on issue at the completion of the offer. It expects to list on the Australian Securities Exchange on December 2.InPayTech was established in March this year for the purpose of acquiring the business and assets of Payment Adviser Group, which has developed a technology to facilitate the secure storage and transmission of transaction data.The company's main product is ClickSuper, which is a clearing house for the payment of superannuation contributions, payroll deductions, salaries and Australian Taxation Office payments.InPayTech partners with payroll service providers, integrating ClickSuper's technology with their software. ClickSuper currently supports 26 payroll groups.The focus of activity has been SuperStream, a Government reform that has mandated a move to automation, digitisation and uniform data standards for transactions in the super industry.ClickSuper facilitates the electronic payment of superannuation contributions and transmission of data concerning those payments. It is accredited by the ATO as a SuperStream gateway and it holds an Australian Financial Services Licence.InPayTech earns its revenue from transaction fees. At this stage of its development (ClickSuper was launched in 2010) it has had negligible revenue over the past few years and has not made a profit.At the heart of the company's business is a piece of digital technology that allows for the transmission of extended remittance data using a unique URL that is recorded on the recipient's bank statement. The recipient can access the data supporting the payment via the internet.The company is also working on applications for its technology as the NPP rolls out next year. The NPP will be an open access infrastructure designed to encourage the development of overlay services.InPayTech's Payment Adviser Service, which will support the communication of unlimited data detailing payments, will be offered as an overlay.Under current payment arrangements, only an 18-character message can be sent with a payment. The ability to transmit larger amounts of data with payments will be one of the major changes to the payment system brought in with the NPP.InPayTech's executive chairman is Don Sharp, the co-founder of Bridges Financial Services and currently the executive chairman of Managed Accounts Holdings.The chief executive is Robin Beauchamp, co-founder of Payment Adviser Group.