Hyderabad based Payswiff taking the digital world by a storm8 months ago Bhavitaavya Dharanikota
Hyderabad-headquartered Payswiff Solutions (formerly Paynear Solutions) is one of the leading fintech firms that incorporate payments and tax filing solutions with a presence across India and 11 international locations. Since 2005, the co-founders Mr. Prabhu, Ms. Priti, Mr. Kishore, Mr. Anil, Mr. Maulik, and Mr. Ravi have been together and co-founded Payswiff. Their dream was to empower small and medium merchants with a simple, hassle-free and secure payment transaction solution, which meets their day to day business requirements. Soon, the idea sprouted to fruition and in 2013, they launched Paynear Solutions, an omnichannel transaction processing provider that rendered reliable & cost-effective payment solutions to enterprises of all business sizes. Within a short span, in 2017 Paynear acquired Singapore headquartered Goswiff International and the trade name was later re-branded as Payswiff Solutions. Today, Payswiff is the fastest growing omnichannel transactions processing provider, enabling merchants, businesses, enterprises, ISO’s and Banks to accept payments through 60 different payment channels, including debit/credit cards, net banking, online, e-wallets, UPI, smart POS, mPOS, smartphone app, new age payment solutions and lately expanding into various solutions.
Payswiff is also a licensed GSP to enable users to file their GST returns and has now partnered with more than 100 banks globally for processing their transactions. The company through its innovative solutions has also played a vital role in supporting the Indian Government’s drive towards a digital Indian economy. Payswiff has successfully served customers around the world since 2005 and has bagged multiple industry awards including Telangana Brand Leadership Award, Best Use of Mobile Technology in Financial Services at Asia Banking, Financial Services & Insurance Excellence Awards in Singapore, and The 2017 Times Network National Awards. Recently, Payswiff attained the Jury award for being the best IT Company at HMTV Business Excellence Awards, 2018. As of now, Payswiff employs 450 plus employees in 10 different countries and stands as one of the most promising fintech firms. Payswiff ONE – the company’s flagship plug ‘n’ play payment transaction solution helps its businesses accept payments through multiple modes, including debit cards, credit cards, net banking, payment gateway, e-wallets, and UPI. Payswiff TaxnGo solution lets small & medium businesses automate their GST return filing needs along with managing their customers, products, vendors, credit/debit memos, create sales & purchase invoices and generate printable invoices seamlessly.
In October 2017, Paynear took a giant leap forward by acquiring Singapore-based GoSwiff International Pvt. Ltd. Founded in Singapore in 2010, GoSwiff International has been a pioneer in mobile POS terminals, providing its mobile payment platform to more than 20 banks and financial institutions in 16 countries. Some of its more prominent clients include ING Bank, Bank of Ayudhya, Indosat/Ooredoo, TBC Bank, Globe Telecom, IPay88, DBS, Prior bank, Ghana Commercial Bank, Mashreq Bank, KazKom Bank, BDO and UniCredit. The acquisition put Paynear on the global platform, as one of the largest players in the Omni-Channel Payments Processing domain. Paynear then went on to be rebranded as Payswiff. They have also launched various products namely Paynear mPay (Nov 2014), Paynear SPOT (Aug 2015), Paynear ONE mPOS (Apr 2016), Payswiff Digital POS (Sep 2017), Payswiff Digital POS+ Printer, Billswiff, Payswiff SET, and Android POS+. Their solutions are being offered to Merchants & SME’s, Enterprise Solutions, and Banks. Payswiff’s Omni-Channel Payment Transaction Solution enables merchants to accept payments in-store, online & at customer’s home. Payments can be accepted from Credit & Debit Cards, Wallet Payments, Online transactions, EMI and UPI payments.
As markets’ major concern is related to settlement, Payswiff is coming up with a solution that will help merchants to request them for instant settlement of the transactions they perform so that, merchants don’t have to lose their business partner due to lack of funds available with them. They are also planning for a host of other VAS including lending and aim to provide easy access to money by enabling them to grow their business.