India1 Payments launches Paysis to power digital payments

By Vriti Gothi

India1 Payments Limited has launched Paysis Payments Pvt. Ltd., a wholly owned subsidiary designed to deliver secure, scalable and future-ready digital payments and transaction processing solutions. This helps India1’s expansion beyond its market-leading ATM business into advanced technology services, positioning the company as a dual growth engine powering India’s evolving payments ecosystem.

Over the past decade, India1 has built a formidable presence as the country’s largest WLAO and the third-largest ATM brand overall. Its footprint today spans more than 340 districts and 2,500 talukas, with the company accounting for 52% of all incremental ATM deployments over the last five years. Against the backdrop of an industry that has grown at just 1.4%, India1 has achieved a compound annual growth rate of 20%, underscoring both the strength of its model and the continuing need for access points in India’s underpenetrated cash economy.

Paysis Payments will build on this foundation by offering next-generation switching and payments solutions, targeted particularly at mid-sized and smaller banks that are seeking to accelerate their digital transformation. By integrating deep rural reach with modern transaction technologies, the new subsidiary will enable banks and cooperative institutions to deliver seamless, enterprise-grade payment services to customers in semi-urban and rural markets.

As part of this expansion, India1 has announced a strengthened leadership structure. Kumara Krishnan will assume the role of Chief Executive Officer, India1 Payments – ATM and Retail Business, with a mandate to drive operational excellence and profitability. Rajeev Desai has been appointed Chief Executive Officer of Paysis Payments Pvt. Ltd., where he will spearhead the growth of the subsidiary as a high-performing payments technology provider. Sanjay Bajaj takes on the position of Group CFO & Head of Shared Services, providing financial and operational oversight across both entities.

K Srinivas, Executive Vice Chairman, India1 Payments, said, “India’s payments ecosystem is evolving at an unprecedented pace, with surging transaction volumes. Many banks, especially in semi-urban & Rural India, are under pressure to join the bandwagon, with their customers demanding services on par with those of larger banks. Paysis has been designed to empower smaller and mid-sized institutions to access robust, enterprise-grade platforms and become their trusted partner in digital evolution. This will ensure that the benefits of financial inclusion extend to every corner of the country.”