(Centre L-R) Sumeet Phadnis (ED) and Mandar Agashe (Founder, MD) of Sarvatra Technologies
Company Overview
Sarvatra Technologies Pvt. Ltd. is India’s leading provider of innovative technology, trusted by banks and financial institutions. We offer interoperable payment platforms to private sector banks, public sector banks, small finance banks, payments banks, state cooperative banks, district central cooperative banks, urban cooperative banks, urban credit societies, financial institutions, fintech companies, and international banks. Our solutions are deployed on-premises, on public cloud platforms, as well as Sarvatra’s private cloud.
Our payment product suite—the most comprehensive in India—includes UPI, AePS, IMPS, BBPS, eKYC, EFT, POS, ECOM, debit cards, mobile apps, self-service platforms, and micro-ATMs, ensuring that our clients can deliver seamless payment experiences. With our technology powering more than 50% of India’s banks and financial institutions spread across 369 Districts in 27 States and 3 UTs of India, Sarvatra plays a pivotal role in driving the national digital payments ecosystem.
Business
Highlights
0
0
0
0
0
0
0
0
0
0
The company comprises of a stable management team that has worked together for 20+ years and possesses diverse experience in software, hardware, networking, and banking sector. Our strength is our 650+ strong technology team engaged in Embedded Software, Mobile & Biometric Apps, Web Apps, Core Banking, Payment Switching Apps, Technical Support, Sales & Marketing Support, Data Centre Management, and Card Management.
Our Vision
“Transact with ease.” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Our Mission
“Building innovative technology solutions for financial institutions in India to help serve their customers.”
Sarvatra’s focus, since its inception over 2 decades ago, has not only been to develop innovative banking products, switching and payment solutions addressing the special requirements of the rural/co-operative banking sector, but also endeavoring to remove all budgetary, technological, operational, and infrastructural impediments faced by the sector. Indeed, Sarvatra has played a key role in promoting Financial Inclusion in India.
Our vision is to become India’s premier banking technology solutions provider for banks and financial institutions across rural India by leveraging on our technological prowess and deep domain knowledge of the rural banking and finance sector and to promote inclusive banking in the underbanked population of India by providing banking solutions that ‘work for everyone, everywhere’. We have embraced and invented new technologies and as we go on towards the future, we intend to exploit the full potential of new technologies to empower our clientele.
Pioneering Achievements
Sarvatra Technologies has a rich legacy of innovation, being the first to implement UPI, IMPS, AePS, and the ASP model for small banks in India. Today, we manage a significant share of UPI and IMPS transaction volumes nationwide, solidifying our position as a key leader in the country’s digital payments landscape. As of today, around 450 banks are live on Sarvatra IMPS Switch, with Sarvatra managing more than 30% of the total transaction volume generated on IMPS nationally. Also, we have issued over 1.8 Crore Rupay Debit Cards across India and enjoy 54% market share in RuPay NFS sub-membership.
54% market share in RuPay NFS sub-membership
30% of the total IMPS transaction volume in India
Sarvatra powered India’s first Central Bank Digital Currency (CBDC) platform, offering a secure and scalable solution for managing e₹ tokens issued by RBI. This includes CBDC wallet apps for customers and a comprehensive merchant stack for both online and offline transactions. Our platform also enables corporate entities and large merchants to make seamless payments in CBDC, including salary, vendor payments, refunds.
Sarvatra recently launched India’s first bank-led rewards program for UPI users. Once onboarded on Sarvatra Rewards app, customers of participating banks can earn rewards when they use their registered UPI IDs and Cards at our affiliate merchant outlets. These rewards, in the form of discount points, are interoperable across all merchants. Moreover, customers automatically earn rewards from their banks, for their loyalty.
Sarvatra’s Financial Inclusion Platform with AePS Switch, Micro ATM Switch, and FI Portal solutions have made a big difference to our business. They are easy to use, secure, and dependable, which has helped us build stronger customer trust. We’ve also seen a clear increase in transactions and earnings.
I am happy with the pace of work (in developing the UPI solution for ICICI Bank). It is also very encouraging the way you are tracking the progress. I am more confident that we can meet the deadline successfully.
Congratulations for bringing all 24 Banks onto NPCI Rupay platform in record time. We thank you for the relentless efforts you have put in to make this possible. We will now move forward with new initiatives.
We became India’s first Sub-Member Bank to go live on RuPay E-com, issue EMV cards, and migrate to Direct Membership for which we won NPCI Special Award. Thank you Sarvatra for being a valuable technology partner.
I hereby congratulate the Sarvatra Team for your sincere and dedicated efforts in making the 1st sub-member bank in India to go live on the AEPS channel (On-us and BFD).
Thanks to your timely support, Maharashtra stood first in the country by issuing the largest number of RKCCs. We deeply appreciate your effort and look forward to your continued support in keeping Maharashtra on top.
