Fintech being the driving force behind the gradual growth of cashless transactions in the country, even the remotest parts are getting facilitated by its counterparts. Entrepreneurial initiatives are spreading wings and making their places in the smart phone of every Indian. Payism Global wants to give out a complete payment solution to the undeserved and migrant population and also the rural community, particularly the farming community. The rural population doesn't have proper banking experience and they have to go through an indirect model through agents who do it and charge a phenomenal fee of more than 10 percent. There is not a single company which is providing all the solutions under one umbrella to this category of people. That is why Payism has built a model which is closely associated to them. "So we chose to have a B2B2C model where a distributor retailer is involved and most of these people are actually those who used to go to a retail outlet for their requirements like recharges, railway tickets and numerous others", says Sathish Kumar, CEO, Payism Global.

Challenges Addressed

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.

If you just go to a normal retail outlet, he might be doing multiple recharges for different companies using different smart phones for different recharges. We have united this into one single platform where they just need to buy 5000 working capital and once it's over you can refill and gain start using it", states Mr. Kumar.

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."