Nearby Technologies Pvt. Ltd. (PayNearby)

About Company -

Nearby Technologies Pvt. Ltd. is a DIPP Certified Fintech Company registered under The Startup India program of Government of India, set up in April 2016 by a team of professionals with experience in Digital Banking & Payments industry. The team works on deep insights and understanding of payment and transaction technology space.

The company’s flagship brand, PayNearby, operates on a B2B2C model, where we partner with neighbourhood retail stores and enable them with the tools to provide assisted financial and digital commerce services to local communities. Our innovative solutions are modelled to make transactions seamless, quick and easy and strives to empower our retail partners and their customers. Using the power of Aadhaar & Mobility, we are motivated to transform nearby retail stores into Fintech Marts. The stores will serve as a catalyst to digitize cash for the mass market customers and give them access to fintech services which were earlier available only to those who had digital money.

The company’s mission to make ‘Har Dukaan Digital Pradhan’ is envisaged to empower the local retailer and create a thriving eco-system around him. PayNearby has successfully enabled Digital Pradhans to provide many essential services to their communities, including Aadhaar banking, ATM services, cash deposit, savings, insurance, access to government schemes (DBT) and many more.

PayNearby aspires to empower 50,00,000+ stores across Tier I, II and rural towns in India in the near future and help in creating a financially inclusive and digitally connected India.

Vision: Make financial services available to everyone, everywhere.

Mission:Build the largest branchless banking network that helps create a more progressive society through easy access to financial services.

Let’s together create “India’s Largest Branchless Banking Network” 

The journey so far

A catalytic set-up under DIPP’s Startup India (fintech category), PayNearby has seen tremendous growth in business in the 5 years since inception. Today, more than 10,00,000 retailers use the PayNearby platform to service close to 12 crore Indians on a range of products and services. The success of the model lies not only in the 10 lakh plus transactions that it clocks daily or the business throughput of ~5000 crores plus per month, but in the social reach of the platform across 17,300 PIN codes in the country, helping uplift both the retail community and consumers in those areas.

Today, from Muzaffarpur to Maldah, and Raichur to Rajnandgaon, PayNearby has successfully enabled the availability of essential services in the most backward districts of the country. The company enables close to Rs 775 crores of financial inclusion services per month to citizens of the 115 Aspirational Districts of India, identified by NITI AYOG as the poorest districts of the country.

PayNearby is committed to bringing transformational changes in the country’s socio-economic landscape and help create a financially inclusive and digitally connected Bharat as it moves to the next stage of growth and scale.

Our Score card:

33% Market share in AEPS

60,000 Cr. GTV Processed Annually

11% Market share in DMT

10 Lakhs Transactions Daily

10,00,000+ lakh Retailers

28 States; 8 Union territories

17,300+ pin codes in India

Why PayNearby