SPAY Technology Private Limited is a Fintech company that works to help the Migrant population and other underserved parts of the Indian economy. Spay Technology offers a variety of services, such as money transfers, the Aadhaar Enabled Payment System, bill payments, recharge, travel bookings, insurance, etc.
Spay Technology believes in giving services to customers “where they need it when they need it, and how they need it.” With the help of their network of agents, they speak the language of their customers and are present in their neighbourhoods.
Through our Merchants, they reach out to a wide range of geographical segments to provide a simple platform for financial services. The goal is to help every underserved part of the Indian population get the credentials they need to live a hassle-free life.
As Spay Technology knows what consumers want and gives them services that fit their lifestyles, they are building a platform that is the first of its kind and will bring 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” lets people send money even if they don't have a bank account and acts as a hub for other financial services. AEPS (Aadhaar Enabled Payment System) is also offered by Spay India to make the process even faster and safer.
Achievements and Milestones of the Company
Currently doing 1300cr business on monthly basics serving 15M.
Customers with 40k plus Agent base.
Founder and CEO received Indian Icon award 2021-22 as the (Young and Dynamic Entrepreneur of the Year – Fintech)
Awarded by” Top 10 best Fintech – 2022 by the CIO Insight Magazine
Making Spay India An Award-Winning Firm
Nikhilesh Tiwari is a well-known business person in India's fintech sector. Late in 2018, he started Spay India to help the misguided trade network of the fintech supply channel, which is made up of retailers and merchants. He started the company and runs it as its CEO.
Nikhilesh is one of the most powerful and well-known people in the FinTech industry. His company has helped him see huge year-over-year growth. Nikhilesh did well even though it was a new business and was hit by the pandemic business hits.
Nikhilesh Tiwari, who is the CEO of the Spay India company, started the business with only 29 people. The company's goal is to give its customers great services for simple things like sending money, recharging phones, sending bills, etc.
To reach this goal, the pros at this business do everything they can to make their clients happy. This is because they think that making their clients happy is the best reward for their hard work.
Nikhilesh Tiwari started his business from nothing, but it is now worth $100 million. To get to this point, you need to use a lot of different business methods and plans. He found out, though, that it was neither easy nor impossible.
Nikhilesh Tiwari was also hurt by the pandemic, just like a lot of other people. He didn't let anyone go during the pandemic, stayed with his team, went into the market as the leader, and came back more than any of his competitors; he did business faster.
This has made Spay India the top BC banking company that uses fintech because of what it did. Nikhilesh has built Spay India into a company that has won awards. Spay India has been chosen as one of them.
The CEO magazine named it one of the top 20 BFSI companies for 2021–2022, and CIO Insights named it one of the top 10 fintech companies in India. AsiaOne international magazine also chose Spay as one of India's best brands.
Nikhilesh was named “Times 40 under 40 leader. This level of success is all because of how hard he worked and how much he cared.
He also thinks that you should make something for a market where you know the problems and how to solve them. If you don't, the learning curve itself may be very steep in many cases.