Payism Global: Financial Management for the Rural and Unbanked
A company entering the financial sector in recent times, it first needs to build something which has ease of operations. It has to think how to decrease the pain points of the retailers and the end consumers and most importantly need to be 100 percent sure of what they are doing. Payism Global ensures that whatever transactions they do will have 98.6 percent success ratio. "So, we had cut down into one single working capital for them which can be used for multiple things.
Payism Global is backed by two high networth individuals from Singapore and Bangalore and is looking to get into bigger funding rounds in future course of time
Tickets Won & Future Plans
When Payism Global started in 2014, it wanted to understand everything at a ground level. In 2015, the company had its own software ready and from July 2016, it launched the product. First year the company generated an INR 240 Cr. turnover and second year it jumped to INR 2320 Cr turnover. Mr Kumar says, "At three years, we are at a 5000 Cr. turn turnover. We have 38,000 retailers associated with the platform across India along with 2400 distributors that is being a subject of growth month on month and we keep launching products every four months so that customer can accustomed to the previous product, get used to it and then the next product comes in.
Rakesh Aggarwal, Chairman
"Payism Global is backed by two high networth individuals from Singapore and Bangalore and is looking to get into bigger funding rounds in future course of time. In the coming year, the company is stepping foot into Southeast Asian countries of Vietnam, Indonesia and Malaysia. Expressing the future ahead of the company, Mr. Kumar concludes, "We are most likely to have close to lakh retail touch points within next 15 months and will be present in at least 24 states all over the country. We'll be building a complete ecosystem for farmer's loan and collection which is likely to have a large impact on the farmer community and the NBFC banking community."