Payworld

Payworld is one of India's largest mobile financial services companies.[1][2] It was founded in 2006 by the Sugal & Damani group.[3] The company provides financial services such as money transfer, recharges, bill payments, insurance point of sale, GST filing, mobile point of sale, SME loans, and E-Government services.[4]

Payworld
Type of businessPrivate
Founded2006
Area servedIndia
Founder(s)Sugal & Damani group
URLwww.payworldindia.com

History

In 2006, Payworld started with electronic pre-paid voucher distribution for mobile phones in Madhya Pradesh, Uttar Pradesh and Gujarat. It is present in 23 states and 630 districts and 80000 villages across India.[5]

Payworld started its business with telecom partnerships; it now has more than 100 partnerships across various sectors. The company’s total transaction value in 2016-2017 was ₹1600 crores and ₹3800 crores in 2017-2018.[6][7]

Payworld Money

Payworld Money is a mobile wallet approved by the RBI. Payworld claims 10 million users in 2017.[8] This wallet processed more than 3.8 million transactions with a GTV of $130 million in 2016-2017.

Payworld is short-listed as GST Suvidha provider (GST Filing) by Goods and Services Tax Network (GSTN) in India along with other 33 GST Suvidha providers including TCS, Ernst, Deloitte, Mastek and more.[9]

References
  1. "Payworld mPOS - A boon for small merchants". Business Standard India. 23 November 2016.
  2. Bhakta, Pratik (1 June 2016). "Payworld launches Payworld Bazaar for assisted ecommerce". The Economic Times.
  3. "Stressed with cash issues? Payworld could be a blessing in disguise". Deccan Chronicle. 26 December 2016.
  4. "Fintech firm Payworld focuses on insurance, loans for growth". Moneycontrol.com.
  5. "Rebooting Bharat: Why the challenge to take digital payment to rural India is as huge as the opportunity". The Economic Times.
  6. "Payworld expects to cross Rs 7,000 cr revenue by 2018-19 - Times of India". The Times of India.
  7. India, Press Trust of (5 February 2017). "Payworld expects to cross Rs 7,000 cr revenue by 2018-19". Business Standard India.
  8. "Soon, your e-wallet will help you get loan too - ET Telecom". ETTelecom.com.
  9. "Payworld shortlists as one of the GST Suvidha Provider". Business Standard India. 16 December 2016.
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