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SR 10 Fastest Growing Retail Companies 2016

Providers of one of the best digital payment platforms for Retail customers: TimesofMoney


“When money realizes that it is in good hands, it wants to stay and multiply in those hands.” – Idowu Koyenikan

Understandably many people feel nervous when transferring large amounts of money overseas or making an online payment. Whether a person is buying property, investing in a product, or anything else, it is essential to feel secure in the process and know that one is not going to lose some, or all, of his/her money somewhere along the way. Security is one of the main reasons that specialized companies exist to aid when people need to transfer money overseas or pay online.

Among such specialized companies, TimesofMoney is the leading digital payments & remittances service provider catering to retail & institutional clients in India & across the globe. TimesofMoney’s bouquet of services include retail online remittances (Remit2India & Klinnk), value-added NRI services (Window2India), white-labeled remittance platforms & online payment gateway solutions (DirecPay).

Headquartered in Mumbai, India, TimesofMoney over 15 years of experience, TimesofMoney boasts of a strong customer franchise in the retail & institutional space & has also been the recipient of several industry accolades for its achievements over the years.

In an increasingly digital world, TimesofMoney prides itself on being a full-fledged digital payment services company. Carving a niche for themselves and creating new categories, they are now ‘veteran’, a thriving and rapidly expanding business. The company’s lineage also reflects their sphere of business. A majority shareholding by Network International, a market leader in payment processing, gives them the right mix to help find the right solution for their customers.

Retail oriented Institution, Merchant and Consumer solutions by TimesofMoney
Payce: Their institutional services vertical caters to an institution’s business needs for online cross-border money transfers, domestic bill payments etc. by offering cutting-edge solutions tailored to the needs of their consumers. Banks, telcos, MTOs and private companies are all vying for a share of this ever-growing industry. Yet, understanding the nuances and mechanics and managing the time-to-market are critical to one’s success. With their domain expertise and innovative solutions, TimesofMoney works closely with partners to help them realize the potential of cross-border money transfers.

Billmart: TimesofMoney’s white labeled bill payment platform that enables service providers to offer Electronic Bill Presentment and Payment (EBPP) services to their customers. Developed in a secure and robust framework, Billmart has the capability to process recurring payments for its service providers like telecom, insurance, electricity etc.

Movit: A customizable solution for banks, telcos and FIs wanting to launch their own mobile payment service, covers the full range of a mobile wallet and also supports Merchant/government payments, Agent/customer management panels, Closed/semi-closed/open loop programs and Cross-border remittance. Movit is certified for all relevant databases available today and offers flexible partnership terms that include a ‘Build and Deploy’ Model for partners who are interested only in the platform and a ‘Build, Deploy and Operate’ model for those interested in a complete end-to-end service.

LinkUP: A white-label payment aggregation platform meant for payment aggregators and financial institutions. LinkUP’s plug-and-play solution enables clients to create their own payment gateway platform. The offering can further be enhanced to accept cross-border payments, bill payments etc. as well.

DirecPay Shield: As a merchant, one is always worried that online transactions carry an element of risk. They help clients eliminate it with their elaborate risk-management module. It ensures that there are no potential fraudulent transactions & lets clients to drive their business.

DirecPay Insight: At DirecPay, their analysis show that over 40% of online transactions don’t get completed, implying that the gap between booking a transaction & actually completing the payment on a website is huge. This is where their proprietary tool ‘DirecPay Insights’ comes into play. With real-time alerts of abandoned transactions, DirecPay Insights gives merchants an opportunity to immediately connect with the customer to ensure that the transaction is completed and he does not switch to competition.

DirecPay Edge: DirecPay Edge is designed to promote the E-Commerce Business in India. Their enhanced offering helps merchants on every front of their online business – booking a domain, hosting space, web design, search-engine optimization, paid-search marketing etc. And of course, a pre-integrated payment gateway. In order to succeed in this competitive global business, one needs the ability to provide complete e-commerce solutions to their clients. DirecPay Edge has also developed a channel partner program to help companies and consultants can offer complete E-Commerce solutions.

Remit2India: Their flagship brand caters to NRIs across 24 countries with simple, safe and convenient money transfer solutions. With Remit2India, NRIs gets a simple registration process, multiple sending and receiving options and money delivery anywhere in India.

Meet the Master

Avijit Nanda, CEO: Avijit is responsible for driving the company’s strategic & business interest and continuing to ensure that the company remains the leader in the digital payments & remittances space. An industry veteran with over 18 years of varied experience, Avijit has been with the company since 2006 and has been leading the global foray for the last 6 years. His past experience includes stints with major financial players including HSBC & ICICI Bank.

In 2012, Avijit was instrumental in leading the strategic divestment plan of TimesofMoney to Network International, the largest acquirer and one of the leading payment solutions providers in the Middle East.

Avijit is also a leading name in the payments industry and is very active in industry forums. He is on the Advisory Board of IAMTN. On the personal front, he is passionate about his music. Apart from being an avid listener, he is a talented guitar player and vocalist too.

“To establish TimesofMoney as a global leader in digital payment services by offering the convenience of new-age platforms for retail & business customers.”