The bank is a bus ride away. The shop is next door.
In most of the districts we work in, the nearest branch is 15 to 20 km and half a day of lost wages. The nearest shop is at the corner, open till nine, and already trusted with cash. MehaiPay is the software that lets that shop do the bank’s work.
Four people, one room, one stubborn gap
The people who started MehaiPay had spent years selling payments software to banks — switches, reconciliation engines, the plumbing behind a branch counter. The work was good. The problem was that it always stopped at the same place.
A bank opens a branch where the deposits are. A village of four thousand people does not pay for a branch, a manager, a cash chest and a guard. So the branch does not come, and the people travel instead — a bus to the block headquarters, two hours in a queue, ₹60 in fares to withdraw ₹2,000 of pension money.
The business correspondent model was meant to fix this, and in principle it does. What was missing was decent software. Most agent apps we saw in 2023 were a bank’s internal screen with the branding changed: eleven fields for one withdrawal, commission statements that arrived a week late, a helpline that shut at six. Agents carried the cash risk and waited days to be paid for it. So in 2024 four of us registered MehaiPay Fintech Pvt. Ltd. in Kota and built the app the other way round — starting from what a shopkeeper does in the ninety seconds a customer stands at the counter, and working backwards to the rails.
Two years on, the company is larger and the idea has not changed. More on how we think about it is on mission and vision; what agents get out of it is on why MehaiPay.
MehaiPay is not a bank
We are the software and the settlement layer. The money always moves on somebody else’s regulated rails, and we say so plainly.
- We hold no public deposits. There is no MehaiPay savings account and never will be.
- AEPS and micro ATM transactions clear through our sponsor bank on NPCI rails.
- Bills run over the BBPS network; money transfers over IMPS and NEFT.
- Insurance is sold on behalf of licensed insurers, and travel on behalf of licensed agents.
- Your wallet balance is your own float, held with the sponsor bank, not lent out by us.
What we own is the part you touch: the app, the switch behind it, the reconciliation that catches a stuck transaction, the commission engine, and the people who pick up the phone.
Ask us anythingReconciled against the bank every night
Deepest where the branches are thinnest
We are live in more than 700 districts. Five states carry most of the network, because that is where we started and where we hired first.
| State | Districts live | Active agents | Cash services |
|---|---|---|---|
| Rajasthan | 33 | 9,400 | All live |
| Uttar Pradesh | 75 | 11,200 | All live |
| Bihar | 38 | 7,600 | All live |
| Madhya Pradesh | 52 | 5,100 | All live |
| Maharashtra | 36 | 4,300 | All live |
| Rest of India | 460+ | 12,400 | All live |
AEPS, micro ATM, money transfer, BBPS bills and recharge are live in every district in the table. Insurance and travel roll out district by district — each one needs a licensed partner and a trained agent before we switch it on, and the app shows what is available at your pincode.
What has happened so far
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2024 · APRILMehaiPay Fintech Pvt. Ltd. is incorporated
Registered in Rajasthan. Four people, one rented floor, no product.
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2024 · SEPTEMBERSponsor bank agreement, AEPS goes live
The first Aadhaar withdrawal was paid out at a mobile-repair shop in Bundi. Micro ATM followed six weeks later.
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2024 · DECEMBERFirst 1,000 agents
All of them within 200 km of the office, so we could drive out and watch the app being used on a real counter.
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2025 · JUNEFirst ₹100 Cr month
Money transfer, BBPS bills and recharge were live by then. Same-day commission settlement started in the same quarter.
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2025 · DECEMBER25,000 agents across nine states
The distributor programme opened. Support moved to a 24×7 roster after too many Sunday-evening tickets went unanswered.
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2026 · TODAY50,000 agents, 700+ districts, ₹500 Cr+ a month
Uptime held at 99.9% through the year. Insurance and travel are in staged rollout.
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NEXTWhat we are working on
Insurance and travel in every district we already serve, the agent app in six more languages, and better tools for distributors managing a hundred counters.
Who we answer to
Handling other people’s money is a licensed business. We work inside that licence rather than around it, and we would rather be boring about it.
- Every cash service runs under a sponsor bank arrangement that is audited by the bank
- Agent onboarding follows KYC and PMLA obligations — Aadhaar, PAN, shop proof, live photo
- Transactions are monitored for suspicious patterns and reported where the law requires
- Independent security testing at least once a year, and before every major release
- All agent and customer data is stored on servers located in India
- No raw biometric data is ever stored by us — it goes encrypted from the scanner to UIDAI
Four functions, one job
We do not publish an org chart of faces. What matters to an agent is which desk picks up the work when something goes wrong.
Engineering & product
The app, the switch and the reconciliation jobs. Based in Kota, in one office, so a bug reported from a counter reaches the person who wrote the code the same day.
Risk & compliance
Agent KYC, transaction monitoring, PMLA reporting and the relationship with our sponsor bank. This desk can freeze a counter, and does.
Support centre
24×7, including Sundays, in Hindi and English. A stuck transaction reaches a human, not a form. Escalation targets are on the contact page.
Field & channel
District managers who onboard retailers, train them on a live counter and back the distributors running networks under them.
Put a bank counter in your shop
Free registration, KYC in two to four hours, and your first transaction on the same day your wallet is funded.