The core team at Phi Commerce are experts in the field of digital payments and credit. They have directly been responsible for some of the most innovative payment solutions that are standards in the Indian market today. This team was responsible for the design and roll-out of the solution underpinning the payments network of the largest bank in India as well as the largest outsourced credit card management program in the country.
Cash is still a very dominant mode of payment globally and India is no exception. Experts cite multiple reasons such as cash brings anonymity, cash is cheap, cash is easily available. Despite, a buoyant push by the regulator, citizens of India are not embracing digital payments as expected. Some of the reasons being lack of acceptance infrastructure, lack of parity between digital payments versus cash, lack of awareness and trust.
Cashcow is a fintech startup, which is offering banking products at customer’s doorstep via the Ola / Uber model. Prior to founding Cashcow, Gaurav has founded few ventures which include organisations in the domains like Proprietary Algorithmic Trading Desk, Online Real Estate and Technology Consulting domains. Sector agnostic techno entrepreneur, Gaurav believes that technology can be used for bigger purposes beyond basic needs.
“The present Fintech Indian landscape is in evolution phase, where the startups in categories like digital payments, payday loans, aggregators, p2p lending are enabling technology to solve customer pain points and adding convenience in lending & payments space. One of the key parameter for the success of Indian Fintech startups would be how fast we can bring complete customer profile online. Even today in many ways the underwriting process is offline & physical paperwork is part of the process.”
This feature is part of the ‘Fintech India’ series.
OfBusiness is a technology-driven SME financing platform that adds value beyond financing through its raw material fulfilment engine and marketing services. OfBusiness serves as a single-window for SMEs in the manufacturing and infrastructure space to get secured and unsecured credit lines as an alternate to financing by local distributors and financiers, which is at a much higher cost. SMEs can use this limit for cost-effective procurement of raw material (metals, polymers, paper, building materials) which the platform aggregates, passing the aggregation benefits to the SMEs.
Atom is an omni channel payments service provider providing payment processing as well as payment aggregation services across all the classes of merchants across all the channels viz. point of sale, internet, IVR as well as mobile. It was founded in 2006. It works with more than 100000 merchants processing over a billion dollars per month.
InstaReM, a Singapore-headquartered FinTech start-up offering convenient, fast and cost-effective cross-border money transfers to individuals and businesses, has received regulatory approval from the Reserve Bank of India (RBI) for facilitating overseas remittances from India. InstaReM plans to start its outbound money transfer services from India by November 2017 in partnership with a leading AD-I (Authorized Dealer – Category I) bank, per RBI’s governing conditions for the partnership.
Fintech Asia features CASHe, a B2C lending startup in India. V. Raman Kumar, Chairman of Aeries Financial Technology Pvt. Ltd which operates the technology platform CASHe, shares in depth his thoughts on fintech, alternative lending and more…
This feature is part of the Fintech India series.
LATTICE80, the world’s largest fintech hub based in Singapore, has been welcomed as the ecosystem partner at YES FINTECH, a Mumbai-based business accelerator for startups. YES FINTECH operates under YES BANK, India’s fifth largest private sector bank, and is currently accepting applications for its second cohort.