Almost 50% UPI & 30% IMPS transaction manages b...

Almost 50% UPI & 30% IMPS transaction manages by Sarvatra Technologies

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Today, Almost 50% UPI & 30% IMPS transaction manages by Sarvatra Technologies:

Many of you forget 90s Indian-pop singer Mandar Agashe. He is best known for the release of his Indian-pop album Nazar Nazar, in 1998.

https://i.imgur.com/AJTVJ7e.jpg

Nazar Nazar song Video, singer Mandar Agashe -

Mandar Agashe is the founder and vice chairman of Sarvatra Technologies.

Sarvatra Technologies is an Indian financial technological company, that provides payment solution software to the Indian rural/co-operative banking sector. As of 2019, it has 550+ co-operative banks on India’s National Financial Switch, with Sevalia Urban Co-operative Bank being the latest bank to come online. The company was founded by Mandar Agashe in 2000.

Sarvatra Technologies website- https://sarvatra.tech/services...d/

“They (Sarvatra) are bringing sub-member banks on other NPCI platforms like IMPS, UPI, AePS and Bharat BillPay. The company not only on boards Urban Cooperative banks but also State Co-operative Banks and District Central Cooperative Banks which is helping in financial inclusion,” quotes NPCI’s website.

Sarvatra Technologies today manages almost 50 percent and 30 percent of the total transaction volume that is generated on UPI and IMPS respectively across the country.

Besides the company offers ‘platform as a service’ (PaaS) to lead players such as Paytm, Whatsapp Pay, GooglePay among others.

Sarvatra (only player in India) to offer all seven payment offerings, the company through its diverse platforms and EFT switches has been nurturing a collaborative approach between banks and fintech which has widened the scope for digital payments beyond traditional banking infrastructure. Today, Sarvatra manages a lion’s share of the total transaction volume generated across new age platforms such as UPI and IMPS.

Mandar Agashe said he has Big plans for India’s small banks -

Sarvatra has been helping small community banks in India integrate technology to facilitate real-time, online payments. The initial aim of the company was to offer nationwide connectivity between these small banks and their larger brethren.

“We started Sarvatra because we wanted to do something for the people in rural areas,” says founder Mandar Agashe. “We realised that enabling cooperative banks to go digital would be a monumental step in helping the unbanked and underbanked areas of India where most of the population resides.” Even simple facilities such as ATMs and debit cards were not accessible to these people, he adds. Since inception, the focus of the company has been to address the special requirements of the rural and co-operative banking sector. Sarvatra aims to remove all budgetary, technological, operational and infrastructural problems faced by banks in the sector. The overarching idea has been to bring these banks on to a digital platform and enable them to play a role in progressing financial inclusion in India.

Mandar Agashe believes the main differentiator of the company is its pioneering approach to technology. It offers a range of seven switches: EFT, IMPS, Bharat Bill Payment System, Unified Payments Interface (UPI), Aadhaar Enabled Payment System, eKYC and micro ATM. This has attracted the attention of banking giants such as ICICI Bank, which in turn has enabled the company to work with third-party apps such as Google Pay and Paytm. In addition to ICICI Bank, new-generation payments banks such as Equitas Small Finance Bank are Sarvatra clients. “This makes us a significant name in the industry,” says Agashe. As well as these two banks, other customers include Capital Small Finance Bank, Nainital Bank, Oriental Bank of Commerce, IDBI Bank, Bank of Maharashtra and NSDL Payments Bank.

International expansion -

Nearly two decades after its formation, Sarvatra is assessing international expansion. Typically, community banks and co-operative banks in other countries use platforms such as Visa and Mastercard, while their counterparts in India are connected to the homegrown RuPay network. “Many countries are studying the IMPS and UPI methodology and we have started getting enquiries from other countries such as Egypt and Nigeria for similar platforms,” says Mandar Agashe. “We are evaluating different global markets that want to replicate IMPS and UPI and are looking for payment technology companies like Sarvatra to help them migrate to the latest payment platforms.”

Sarvatra’s business model has evolved over its existence and from selling software on a one-time cost basis towards offering software on a platform-as-a-service basis. The company charges a one-time integration fee plus transaction fees. It is focusing on next-generation UPI and micro ATM technology platforms. “We have to enable more acquiring platforms in rural India because the issuing side has been catered to quite well by banks using our platform and those of other banks,” says Agashe.

Sarvatra enjoys a 54% market share of the debit card issuing platforms, serving more than 550 co-operative banks. The company is also among the leaders in providing the technology for IMPS and UPI transactions, while holding a leading share of the total transaction volume that is generated on the platforms nationally. Last year, the gross transaction value of about INR400 million ($5.6 million) was managed on the Sarvatra-hosted payments platform.

10 Comments  |  
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He is also the grandson of industrialist Chandrashekhar Agashe, who founded the Brihan Maharashtra Sugar Syndicate Ltd, the syndicate that helped to develop the all powerful sugar lobby.
He was one of the directors implicated in the alleged scam by the Suvarna Sahakari Bank in 2008.

Ngbbs4cfc5ca39efee
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First time i heard about Sarvatra Technologies.

Can u tell some upi app name developed by them.

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titamazon wrote:

First time i heard about Sarvatra Technologies.

Can u tell some upi app name developed by them.

they provide backend solutions and financial gateway switch.

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titamazon wrote:

First time i heard about Sarvatra Technologies.

Can u tell some upi app name developed by them.

Sarvatra Technologies provides payment solution software.

Sarvatra Technologies offers ‘platform as a service’ (PaaS) to lead players such as Paytm UPI, Whatsapp Pay UPI, GooglePay UPI among others.

Sarvatra Technologies website- https://sarvatra.tech/services...d/

Roger federer photos 9 150x150
Deal Subedar
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but why this info is on DD and why we need to Know this

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rogerthat wrote:

but why this info is on DD and why we need to Know this

Because whenever they get list in market you buy the shares

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panchabhut wrote:

He is also the grandson of industrialist Chandrashekhar Agashe, who founded the Brihan Maharashtra Sugar Syndicate Ltd, the syndicate that helped to develop the all powerful sugar lobby.
He was one of the directors implicated in the alleged scam by the Suvarna Sahakari Bank in 2008.

no congee survive without scam

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meragoyou153 wrote:

no congee survive without scam

he is close to Shiva Sena & hence to BJP

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Is this company has any unlisted shares??

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abhishek012 wrote:

Sarvatra Technologies provides payment solution software.

Sarvatra Technologies offers ‘platform as a service’ (PaaS) to lead players such as Paytm UPI, Whatsapp Pay UPI, GooglePay UPI among others.

Sarvatra Technologies website- https://sarvatra.tech/services...d/

Tell me bank name where they r providing backend support for upi.

#curiosity

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