With the innovations in and the advent of information technology (IT), convenient and safe digital payments are crucial for prosperous e-commerce and the freelance industry. In the modern global economy, holistic payment solution providers are essential for financial inclusion and online business success.
PAYG is a young startup in this vital industry. Launched in 2020 by the co-founders YS Prabhu and Narendra Singh Solanki, PayG provides digital payment services across many sectors in India. The target market consists of merchants in the semi-urban and rural areas of India. However, the company aims to expand its services to the Indian regions yet to be tapped in the long run.
By making UPI a primary option for digital payments, the company seeks to empower merchants operating on small and large scales. Initially, the business had its origins as a product of the parent company, Xsilica Software. It began its operations as a payment solution, aiming to provide services to the business communities working under registration and those functioning without proper registration. Such businesses include homepreneurs, self-employed individuals, and freelancers (PAN India).
As mentioned above, the company was co-founded by YS Prabhu and Narendra Singh Solanki. Firstly, YS Prabhu holds over sixteen years of experience in operational leadership roles and business. His track record is astounding, and he is regarded as a highly accomplished innovator in his respective fields.
Starting off his career, YS Prabhu worked as a manager in business development, but the experience impacted him deeply. Soon, he formulated an entrepreneurial vision that allowed him to gauge the gaps in the business sector of India. After carefully watching and conducting his research, he reached a place where an online payment gateway solution startup was a viable venture.
On the other hand, Narendra Singh Solanki is a highly experienced technology leader and entrepreneur. His expertise lies in the Design and implementation of high-performance financial applications.
With over eighteen years of experience in his repertoire, Narendra Singh Solanki is well-known for his meticulous nature, which allows him to gain industrial insights unavailable to most people.
With his long-standing experience and expertise, Narendra Singh Solanki amassed immense knowledge of the challenges faced by his potential customers. Using his dexterity with technology, he managed to formulate solutions to the problems mentioned earlier, enabling him to lay the foundations of PayG. Not only that, Narendra Singh Solanki believes in the accessibility and convenience of services…so, these solutions are provided affordably.
Easy Collect and Collect Order are the two new functionalities introduced by PayG in the Gateway industry that allow bulk payment requests at a time and its standard platform is utilized by thousands of merchants due to its convenience and affordability. The number of payments made every month has risen by thirty percent. The total number of transactions processed has increased to a whopping three lakh per month.
PayG is looking forward to receiving client feedback, most of which has been positive so far, and building on that feedback to expand further in the future. Furthermore, in its long-term goals, the business aims to become a significant player in the market by contributing to financial inclusion.
Moreover, the launch is done considering a vast segment of different companies, as the service is used by such a wide array of companies. Hence, the brand image the company wants to project is that of an operationally transparent and valuable player in payment solutions.
Message for customers:
We aim for each business to gain payment solutions according to their needs. We want our customers to receive transparent pricing policies and payment methods both secure and affordable.
