View source for Payworld

{{Short description|Indian fintech company}}
{{multiple issues|
{{COI|date=November 2019}}
{{UDP|date=November 2019}}
}}
{{Infobox website
| name             = Payworld
| logo             = File:Payworld Official Logo.jpg
| company_type     = [[Private company|Private]]
| founded          = 2006
| founder          = Sugal & Damani group
| location         =
| services         =
| website_type     =
| key_people       =
| owner            = <!-- or:
| owners           = -->
| parent           =
| website          = {{URL|https://www.payworldindia.com/}}
|area_served      = [[India]]
}}
'''Payworld''' is an Indian fintech company based that provides services including [[Electronic funds transfer|money transfer]], recharges, and bill payments.<ref>{{cite news|title=Payworld mPOS - A boon for small merchants|url=http://www.business-standard.com/article/news-ani/payworld-mpos-a-boon-for-small-merchants-116112301002_1.html|work=Business Standard India|date=23 November 2016}}</ref><ref>{{cite news|last1=Bhakta|first1=Pratik|title=Payworld launches Payworld Bazaar for assisted ecommerce|url=https://economictimes.indiatimes.com/industry/services/retail/payworld-launches-payworld-bazaar-for-assisted-ecommerce/articleshow/52536048.cms|work=[[The Economic Times]]|date=1 June 2016}}</ref> The company was founded in 2006 by the Sugal & Damani group and has its headquarters in [[Gurgaon]], [[Haryana]].<ref>{{cite news|title=Stressed with cash issues? Payworld could be a blessing in disguise|url=https://www.deccanchronicle.com/business/in-other-news/261216/stressed-with-cash-issues-payworld-could-be-a-blessing-in-disguise.html|work=[[Deccan Chronicle]]|date=26 December 2016|language=en}}</ref><ref>{{cite news|title=Fintech firm Payworld focuses on insurance, loans for growth|url=https://www.moneycontrol.com/news/business/fintech-firm-payworld-focuses-on-insurance-loans-for-growth-2358781.html|work=[[Moneycontrol.com]]}}</ref><ref>{{Cite web|last=Choudhary|first=Anuradha|date=2016-12-19|title=Payments firm Payworld India scouts for a strategic partner|url=https://www.livemint.com/Companies/2yalGPhpUtj7yO2jhxijUI/Payments-firm-Payworld-India-scouts-for-a-strategic-partner.html|access-date=2020-12-04|website=mint|language=en}}</ref>
==History==
In 2006, Payworld started with electronic pre-paid voucher distribution for mobile phones in Madhya Pradesh, [[Uttar Pradesh]] and [[Gujarat]]. It is present in 23 states and 630 districts and 80000 villages across [[India]].<ref>{{cite news|title=Rebooting Bharat: Why the challenge to take digital payment to rural India is as huge as the opportunity|url=https://tech.economictimes.indiatimes.com/news/internet/rebooting-bharat-why-the-challenge-to-take-digital-payment-to-rural-india-is-as-huge-as-the-opportunity/55645928|work=[[The Economic Times]]|language=en}}</ref>
Payworld started its business with telecom partnerships; it now has more than 100 partnerships across various sectors. The company's total transaction value in 2016-2017 was ₹1600 crores and ₹3800 crores in 2017-2018.<ref>{{cite news|title=Payworld expects to cross Rs 7,000 cr revenue by 2018-19 - Times of India|url=https://timesofindia.indiatimes.com/business/india-business/payworld-expects-to-cross-rs-7000-cr-revenue-by-2018-19/articleshow/57062960.cms|work=[[The Times of India]]}}</ref><ref>{{cite news|agency=Press Trust of India|title=Payworld expects to cross Rs 7,000 cr revenue by 2018-19|url=http://www.business-standard.com/article/pti-stories/payworld-expects-to-cross-rs-7-000-cr-revenue-by-2018-19-117020500288_1.html|work=Business Standard India|date=5 February 2017}}</ref>
==Payworld Money==
Payworld Money is a [[Digital wallet|mobile wallet]] approved by the [[Reserve Bank of India|RBI]]. Payworld claims 10 million users in 2017.<ref>{{cite news|title=Soon, your e-wallet will help you get loan too - ET Telecom|url=https://telecom.economictimes.indiatimes.com/news/soon-your-e-wallet-will-help-you-get-loan-too/52077451|work=ETTelecom.com|language=en|access-date=2018-04-18|archive-date=2018-04-18|archive-url=https://web.archive.org/web/20180418230148/https://telecom.economictimes.indiatimes.com/news/soon-your-e-wallet-will-help-you-get-loan-too/52077451|url-status=dead}}</ref> This wallet processed more than 3.8 million transactions with a GTV of $130 million in 2016-2017.
Payworld is short-listed as GST Suvidha provider (GST Filing) by [[Goods and Services Tax (India)|Goods and Services Tax Network]] (GSTN) in India along with other 33 GST Suvidha providers including [[Tata Consultancy Services|TCS]], Ernst, [[Deloitte]], [[Mastek]] and more.<ref>{{cite news|title=Payworld shortlists as one of the GST Suvidha Provider|url=http://www.business-standard.com/article/news-ani/payworld-shortlists-as-one-of-the-gst-suvidha-provider-116121601078_1.html|work=[[Business Standard]] India|date=16 December 2016}}</ref>
==References==
{{reflist}}
{{Mobile payments}}
{{FinTech in India}}
{{Banking in India}}
[[Category:Financial services companies of India]]
[[Category:Payment service providers]]
[[Category:Mobile payments in India]]