On November 9th, 2016, Prime Minister Narendra Modi took entire India by surprise when he announced the demonetization of INR 500 and INR 1000 notes. There was a mad rush to withdraw smaller bills, or deposit bigger ones, and automatic teller machine around the nation was shut temporarily. In fact, since demonetization has come into effect, if there is a clear winner, it is the class of startups offering online wallets and digital payments. Since then mobile wallets have witnessed massive rise in app downloads. According to reports, there are 1 billion mobile users in India and each one of them is a potential customer for mobile wallet companies. M-wallet (mobile wallet) is been used in the services related to banking transactions, transfer of money as well as value-added services like bill payments, shopping, ticketing, recharge, mobile top up, DTH among others.
As the entire nation is marching towards ‘cashless’ economy, it is becoming extremely important for the service providers to understand people’s needs and requirements. There are several startups that have seized this opportunity to offer a digital wallet to fit in every user’s smartphone. But what matters the most is the overall experience of the user for safe, simple and easy transactions of digital payment process.

Based in Bangalore, Msewa Software has developed a comprehensive digital wallet called PayQwik, which is a one stop digital payment service available across India. Unlike other m-wallets, this provides end to end digital payment service to their customers which includes technology deployment, customer and merchant acquisition, upgrades, strategic alliances, customer care center, partner integration and others. In addition to this, their technology allows for multi-country deployment allowing for cross-border activities in different languages, with the same look-and-feel. In the near future, they will be launching Multi-Currency wallet integrated to the remittance platform to create a value proposition that is global with cross border payments.

One Stop Digital Payment Service

Incorporated in 2014, Msewa takes immense

pride to be considered as a possible partner to provide a mobile wallet services in India to various trusted banks. Their experience across India is combined with a solid technological backbone that provides an unparalleled opportunity to develop a leading PAN India mobile payment services. As a technology partner for Vijaya Bank, one of the leading Govt. banks in India,they have successfully deployed the wallet VPayQwik and have helped them integrate the Bharath QR Code in their wallet.

Msewa’s m-wallet, PayQwik, not only aids banks and other merchants to help them in the payment and transaction process, their platform enables people to transfer funds to any person irrespective of whether or not both the sending or receiving parties have account in the bank. This platform aims at serving the customers with mobile payment facilities on the go from anywhere in the world by transferring funds through their mobile phone.

In addition to this, their other services & solutions also include direct access to all the digital payments, travel portal, college payment platform, airtime top up, eCommerce platform, and multicurrency platform. Explaining more on the growth strategy, Pankaj Kumar, CEO, Msewa Software, speaks “We have cashed in on the confusion caused by demonetization in India as we are on a hiring spree to get small merchants enrolled for the free service. Taking the current circumstance as a once in a lifetime opportunity, we are doing rigorous campaign – both offline and online – to get more people and merchants signed up for their service. However with the advancement of technology, to create a unique selling proposition in terms of features would be extremely difficult for us. The only thing that we can do, apart from making a good product is – market in a way that touches every consumer aspects.”

Nurturing the Right Talent

A friendly working environment, flexible work hours, work from home options, women-friendly policies and support among the team members keep team Msewa highly motivated all the time. Above all, the company makes sure the employees get the right environment to grow to their true potential. “Our company workforce consists of employees like software engineers, business development executives, admin, and reconciliation team. We always think of creative ways to nurture our workforce so that, it helps our business thrive financially and socially. We also encourage our employees to pursue their passion, be it music or

drama or some other form of art,” says Pankaj.

Msewa currently with more than 500,000 registered users and 50,000+ merchants across India, is methodically expanding their payment platform by leveraging its existing and new state licenses and global contracts to multiple partners in India, China, Canada, USA, UAE, Indonesia, Africa, the Caribbean and other part of the world. “In the future we are deploying the global interoperable wallet by establishing key strategic partnerships that launches the platform in those countries. Foreseeing the opportunities, this will allow us to operate a global platform with cross border, interoperability, global M-commerce and global merchants. Thus we will be able to create a global ecosystem and at the same time can reduce the cost of becoming a global entity by leveraging the assets of the strategic partners,” concludes Pankaj.

Msewa currently has more than 500,000 registered users and 50,000+ merchants across India