PayMe India – Aims to eradicate the financial crisis

India has molded itself into a digital economy where privately owned fintech startups and fintech companies are being nurtured based on their service quality. The growing FinTech ecosystem has given rise to some creative business models being adopted by significant firms. Such innovative methods have helped reduce the financial pressure on individuals by providing them immediate, app, finance solutions.

Enters PayMe India, founded in 2016 to stop the barrier to financial assistance by allowing friction-free transactions and revolutionizing lending to its clients. They attempt to provide the employees who face financial conditions with advanced salary loans.

PayMe was launched to enhance productivity, efficiency, and excellence in the lending process by getting its customers to outperform the existing ones each day by delivering an exceptional platform for accelerated loans. With the team strength of more than 160 passionate members who aspire to continue providing the public with a platform for easy personal loans. At the onset, they were a developed and tested association but have now grown into a successful entrepreneur.

Meet The Founder

In 2012, Allahabad University’s young entrepreneurial researcher, Mahesh Shukla, became an entrepreneur, impacting millions of energies. He was entitled to learn about a lot of literature relating to the emerging FinTech concept, a fusion of finance and technology. It looked to him that this concept could make financial services accessible to thousands of people in the remotest portions of India. 

During his postgraduate days, Mahesh decided to start a FinTech company and put his vision into practice. He decided to start a FinTech company and has tried to implement the idea since his postgraduation days. 

Mahesh Shukla—Founder, PayMe India

Soon, he figured out that to launch his venture, he must get 360-degree exposure to banking, finance, and FinTech. 

Armed with business insight and ten years of industry experience, Mahesh launched a FinTech start-up PayMe India in 2016 with a seed capital of USD 2 million. From solving the cash crunch of individuals and corporates to leading the company counted among the top 30 emerging FinTech start-ups in the country, Mahesh has always remained the company’s backbone.

Eliminating the Barrier

PayMe India serves nearly 10,000 people every month from India with instant, short-term loans, debt management, and credit score improvement solutions.

The company plans to increase its portfolio by adding more financial products and services. Within its agile leadership, NFBCs, banks, and other financial institutions are both in the process of securing significant linkage. PayMe India has partnered with close to 100 major corporations. 

Challenges Encountered

Challenges and difficulties are meant to help everyone know who they are. Last year, as many as 44 of the top 100 Android apps in India were developed by Chinese firms. But things have changed this year as local developers put on a fight. According to app analytics and marketing firms, Indian apps as a whole have recaptured their original standing. The intervention of Chinese apps in the market was one such challenge. 

Also, they struggled because of the covid-19 pandemic situations. The Fintech companies in the payment space witnessed a second explosion of growth after the demonetization; the lending companies have been severely impacted because of COVID-19. 

Financing a new startup was also a big challenge in front of them as customer trust is crucial. Fintech companies offer so many new advantages but often suffer from a lack of reputation or industry trust. Customers may not know that Fintech companies are just as regulated as banks; money is sensitive, that extra comfort is essential.

What Makes PayMe Stand Out

PayMe India is an RBI registered NBFC company to simplifies financial services by providing online loans at 0% interest for corporate employees. Their lending model empowers customers to borrow easy, fast, safe & affordable personal loans. With a responsibility to drive credit penetration & financial inclusion, they are collaborating technology, money, design & data in the form of App, to lend money online in a time of need by being your financial backup. 

The app has been designed to help financial mentoring for the users and to make easy investment decisions. Without visiting a bank or filling out a long-form, you may request your credit online. It saves time both for the banks as well as the lender. Making it as easy as possible for the customers to pay is essential for increasing conversions and sales.

With its best-in-class service, PayMe’s unique platform helps its users on their financial journey across the whole of life. The company ensures complete customer confidentiality and security through its modern infrastructure and secure online system.

The Future Strategy

PayMe India’s upcoming products-

●     PayRent– This enables a customer(s) to pay its monthly rentals payment through Credit Card. With the option of paying rent through a Credit Card, a customer can free up cash, enjoy the interest-free credit period, and earn reward points on credit card spends. You need to add the landlord’s bank account details on the PayRent section of the PayMe India app to transfer the rent from your credit card.

●     SALT– Buy Now Pay Later. It enables you to shop now anything with one tap and pay later for it tomorrow with minimal hassle.

●     CIBIL- Now Monitor and download the TransUnion CIBIL report worth 1500 INR free.

●     PERP- Refer PayMe India to your Family and Friends and get a chance to earn 200 INR for each successful referral.

●     Saarthi- To assist the affected families, PayMe India has taken the initiative to provide a helpline called ‘SAARTHI.’ Saarthi is a helping hand for the families who lost their breadwinning loved ones covid. Anyone who lost the bread-earning person will be provided with a sustainable opportunity to get training and employment opportunities.

Share on

Share on facebook
Share on twitter
Share on whatsapp
Share on telegram

Leave a Comment

Your email address will not be published. Required fields are marked *

KaroStartup Login


Fill in your details and we’ll get back to you in no time.


Fill in your details and we’ll get back to you in no time.