SPAY Technology Private Limited is a Fintech firm that aids Migrants and other underserved segments of the Indian economy. Spay Technology provides numerous services, including money transfers, the Aadhaar Enabled Payment System, bill payments, recharge, travel bookings, insurance, etc.
Spay Technology believes in providing clients with services “where they need it when they need it, and in the manner in which they need it.” They speak the language of their consumers and are present in their neighborhoods thanks to their network of agents.
Through our Merchants, they give a simple platform for financial services to a vast array of geographical areas. The objective is to ensure that every underserved segment of the Indian population has the credentials necessary to live a hassle-free existence.
As Spay Technology understands what consumers want and provides services that complement their lifestyles, they are developing a platform that is the first of its kind and will deliver financial services to consumers wherever they are.
Business Name: Spay Technology Pvt Ltd (SPAY INDIA)
Founder’s Name: Nikhilesh Tiwari
Location: New Delhi, India
Establishment (Year): 2018
Category and Sub-Category: Financial
Unique Selling Proposition / Competitive Advantage
The “Spay India” remittance portal from “Spay Technology” allows users to send money without a bank account and serves as a gateway for further financial services. Spay India now offers AEPS (Aadhaar-Enabled Payment System) to make transaction even quicker and safer.
Successes And Milestones Of The Organization
- Currently generating 1300cr per month while serving 15M customers.
- Customers with 40,000 or more Agents.
- The founder and CEO were awarded the Indian Icon award for 2021-22. (Young and Dynamic Entrepreneur of the Year – Fintech)
- CIO Insight Magazine’s “Top 10 best Fintech – 2022″ award.
Making Spay India An Award-Winning Firm
Nikhilesh Tiwari is a renowned entrepreneur in India’s finance industry. He founded Spay India in late 2018 to assist the mistaken trade network of the fintech supply channel, which is comprised of retailers and merchants. He founded the business and serves as its CEO.
Nikhilesh is one of the most influential and recognizable individuals in the FinTech business. His company has enabled him to achieve tremendous year-over-year growth. Nikhilesh succeeded successfully despite being a new firm and being affected by the pandemic business epidemics.
Nikhilesh Tiwari, the current CEO of Spay India, started the company with only 29 employees. The company’s mission is to provide excellent services for simple tasks such as sending money, recharging phones, and sending bills.
To achieve this objective, the professionals at this company do everything possible to ensure customer satisfaction. This is because they believe that a satisfied client base is the finest return for their efforts.
Nikhilesh Tiwari began his company from scratch, but it is now worth $100 million. To reach this position, you must employ a variety of business tactics and strategies. He discovered, however, that it was neither simple nor impossible.
Nikhilesh Tiwari was similarly affected by the pandemic as a large number of other people. He didn’t let anyone go during the pandemic, stayed with his team, entered the market as the leader, and returned more frequently than his rivals; he conducted business more quickly.
As a result of these actions, Spay India is now the leading BC banking institution utilising fintech. Nikhilesh has built Spay India into a company that has won awards. India has been selected as one of these countries.
CEO magazine ranked it among the top twenty BFSI firms for 2021–2022, while CIO Insights ranked it among the top ten fintech firms in India. The international publication AsiaOne also selected Spay as one of India’s best brands.
Nikhilesh was named “Times 40 under 40 leader. This degree of achievement is the direct result of his diligence and care.
He also believes that you should create a product for a market where you are familiar with the issues and how to solve them. In many circumstances, the learning curve may be extremely steep if you do not.
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