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Payment Services Company Investment Opportunity in Bhubaneswar, India

All in one payment gateway company that aims to reduce MDR by innovative strategy.
This Business is on a Premium Plan
Established 1-5 year(s)
Employees 2 - 5
Legal Entity Private Limited Company
Reported Sales Nil
Run Rate Sales Nil
EBITDA Margin Nil
Industries Payment Services
Locations  Bhubaneswar
Local Time 10:00 AM Asia / Kolkata
Listed By Business Owner / Director
Status Active
Overall Rating
Seeking Investment
USD 700 thousand for 20.0% stake (Native Currency: INR 50,000,000)
Reason: To complete the development of our own payment switch and improve the technology infrastructure. The... View More
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Business Name
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Business Overview

1. Most of the payment gateways in India are working on an aggregator model where they are connected to banks gateway as a master merchant managing its sub-merchants. So they are dependent on bank for the merchant onboarding, giving access to international payment to its merchant or resolution of chargeback.

The model we wish to work with is BIN (Bank Identification Number provided by card schemes like Visa, Mastercard, etc. ) sponsorship in which we will have full control over the whole payment cycle because we will have our own payment switch, payment gateway software, merchant plugin thereby eliminating other stakeholders in the payment cycle which will enable us to reduce MDR by at least 20-30 basis point for a domestic transaction and a 30% MDR reduction in international transactions.

Further to add we will have direct connectivity to Visa and Mastercard for better handling of chargeback resolution by our self rather than depending on the bank.

2. We've received start-up recognition from the startup Odisha dept. run under the MSME department of Govt of Odisha. (Please find attached startup recognition certificate)

3. Our project has been recommended by STPI Bhubaneswar.

4. Our team consists of IIT MBA alumni, Ex-COO of a renowned company along with serial entrepreneur as CEO.

5. Our project has been selected for the second round for the FInBlue program run under STPI Chennai in Association with TiE Chennai. Soon we will receive feedback for the final round.

6. We have our web application ready for merchants. Credentials can be shared once we have a meeting.

7. We have applied for a trademark.

8. We have our office space in one of the premier IT hub of Odisha run under IT dept. of Govt. of Odisha.

9. One of the largest banks has considered our company profile and financials and are in talks with us. (confidential documents can be shared in a face to face meeting)

10. One major bank also agreed for domestic aggregation of PG and POS and in six months or so we may finalize to acquire their BIN as well.

11. PCIDSS certification is being done by TOP QSA (Qualified Security Assessor) like Panacea InfoSec who has already certified PayU, Oxygen wallet, etc. (PFA PCIDSS engagement Letter)

In addition to above a lot of things like POS device purchase agreement, ONE tap e-comm website market place is going on.

12. We are also initiating talk with banks based out of Singapore and Dubai for international merchant acquiring as well through our associates.

13. Business was registered with an office address in Cuttack, but our operations are based out of Bhubaneswar.

Products & Services Overview

Web Payment gateway, POS for card-present transactions, Payment switch for control over whole payment cycle, Tollgate fee management solutions adding value to the existing solution, Inward remittance services.

Facilities Overview

We have been provided Odisha State Govt. sponsored office space in OCAC tower.

Recent Activity
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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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