| Technology Service Provider (TSP) | Software and platform delivery enabling banks and fintech to implement payment services and infrastructure. | Strong NPCI partnerships, proprietary NPCI payment handle, ISO and CMMI certifications, deep banking domain expertise. | Banks, fintech companies, NPCI, and financial institutions focusing on digital payments. | SaaS licensing and hosted deployment models. | 80 | 46 | License fees and subscription-based SaaS revenue models. | Licensed software with recurring subscription fees and occasional customization charges. | Rising digitalization in banking, regulatory mandates, and demand for integrated payment solutions. | UPI, IMPS, CBDC, Banking Connect, BBPS, UPI 123 Pay, Omnichannel SuperApp |
| Payments Platform-as-a-Service (PPaaS) | End-to-end payments platform for merchant acquisition, payment acceptance, and settlement services. | First mover in cooperative sector, innovative QR and SoundBox solutions, strong partner ecosystem, scalable cloud infrastructure. | Banks, cooperative banks, payment aggregators, NBFCs, fintechs, MSME merchants. | Software subscription combined with hardware integration services. | 65 | 37 | Pay-per-use SaaS subscription model based on transaction volumes and device services. | Usage-based recurring fees and device-as-a-service models for hardware. | Growth in merchant digitization, cooperative bank adoption, and offline UPI acceptance enhancements. | Evok 3.0, QR Code Solutions, SoundBox, Merchant Management System (MSS) |
| RegTech Solutions | Regulatory compliance and fraud prevention SaaS platforms for payment ecosystems. | Cutting-edge fraud detection algorithms, regulatory compliance expertise, and integration with digital payment platforms. | Banks, regulators, payment aggregators, and fintech platforms requiring compliance automation. | SaaS modules and AI-driven fraud intelligence platforms. | 28 | 16 | Subscription-based SaaS with pay-per-use features for fraud detection and dispute resolution. | SaaS pay-per-use subscription for regulatory and fraud management modules. | Increasing regulatory focus on digital payments safety and fraud mitigation technologies. | Risk Intelligence Decisioning Platform (RIDP), Online Dispute Resolution (ODR), Fraud Risk Management (FRM) |
