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Our Story

India's current mottos are "financial inclusion" and "AatmaNirbharta". Our story starts at the cusp of these two ideologies. Lakhs of hard-working people in the unorganized retail sector form the backbone of India's economy. Whether in a village, town or a large city, shopkeepers and kirana store owners have been unable to join the digital revolution because of factors like lack of awareness, knowledge and proper fintech support. This is the problem Pay1 was built to address. Established by a team of professionals with decades of experience in the BFSI industry, Pay1 focuses on developing insights into the deep market potential of the financial transaction and financial technology space in India. We aim to lead this pool of persevering small-scale entrepreneurs into a financially inclusive, financially stronger future.

Why the focus on the Indian unorganized retail sector?

Almost 95% of India's retail market consists of kirana stores, brick-and-mortar establishments and mom-and-pop stores. Isn't that massive potential? We want to focus on organizing this enormous unorganized sector by giving it access to modern fintech support. We believe this will help nurture smaller businesses and enable them to jump onto the modern trade bandwagon. We understand the challenges in this sector and the potential to convert them into opportunities. We want to create the "AatmaNirbhar Dukandar" and help him achieve true financial empowerment. Pay1 aims to create an organized digital network of India's unorganized retail sector through a retail tech platform that provides retailers with digital financial and business solutions to enable business expansion and scaling.

What we do

We provide user-friendly technology to retailers via in-app/web portal means. In turn, this gives retailers and distributors access to an array of financial products.

We provide banking and financial services by using safe and secure technology to assist people with:

Bill payments and recharges

Banking services

Payment and cash collection services

Travel and e-governance services

Khata management services

We network with:

Retailers - to enable them to increase earnings, provide loan facilities, provide branding and discounted services, provide no-rental digital payment devices.

Distributors - to better manage their khata, improve performance indicators, ease the process of buying and selling, enable scale of business, provide training and support in running operations digitally.

Developers - to leverage India's fastest and largest growing unorganized retail network to enable financial inclusion.


To become a one-stop digital payment and banking point and superior distribution channel to improve India's monetization infrastructure, specifically in the unorganized retail sector.


To become India's best digital financial solutions provider in the unorganized sector.

To enable the adoption of fintech in every small business and retail store in India in a quest to grow their business and help expand their offerings.

To spur job creation by aiding micro-entrepreneurship, specifically in the rural and semi-urban sectors.


Insight-led - We make decisions based on cutting-edge, technologically-driven research and data.

Innovation - We continually evolve to create technology-enabled solutions and campaigns for our users.

Integrity - We encourage conducting business by adhering to the highest standards of trust and ethics.

Collaboration - We endeavour to strengthen and develop mutually beneficial relations with our customers and partners.

Partner With Us

At Pay1, we are excited to partner with banks and non-banking financial institutions who can help Pay1 become a premier financial product distributor and banking point for the unorganized retail sector.

How can Pay1 help?

Launch products and services of retail stores on the Pay1 platform.

Reduced costs.

Access to pan-India networking.

Increased marketing efficiency for entities.

Our Journey

  • Launched
  • in Mumbai
  • Expanded in
  • 5 other states
  • 1L+ Daily
  • Transactions
  • 100th
  • Employee Joined
  • Expansion
  • to South &
  • 4 Cr+
  • Daily Transaction
  • Volume
  • Launched
  • PAY1 Money Transfer
  • PAY1 Digi
  • 50k+ active retailers
  • Launched AePS service,
  • 3L+ Monthly DMT
  • Transactions
  • Launched
  • Pragati Capital,
  • Travel
  • & Shop1

Our Team

Alakh Naresh Gargiya | CEO

Alakh graduated from IIT Bombay in 2008. He spent over 8 years in investment banking at JP Morgan and Barclays across geographies. He brings a rich experience at business build-out and turnaround management. He leads the charter at micro-entrepreneurs and inclusive employment opportunities in the retail segment.

Ashish Arya | Co-founder, CTO

A Computer Science postgraduate from IIT-Bombay 2009. He has prior experience in developing a technology platform for value-added services and SMS content over the mobile. With his experience in technology, he has been leading the platform development and technology PAY1 for past 7 years.

Chirutha Dalal | Co-founder, COO

She has over a decade of experience as product development head and technology designer at various technology companies, including the start-up ‘sms-tadka’. She has designed pioneer products like flora2000, yo4ya and remindo. Chirutha is an HFI Certified Usability Analyst. She is heading the DMT business along with operations, product development and strategy at PAY1.

Vinit Khanvilkar | Co-founder, CBO

Vinit is a software engineer with 12 years of experience in developing user interface, web applications, portals and websites. He was leading the technology interface at start-up ‘sms-tadka’. His entrepreneurial spirit and in-depth understanding of the market and business make him a problem solver for every business roadblock. Along with procurements, he heads the business development at PAY1.

Abhinav Mathur | CFO

Abhinav has 7 years of experience in offline retail operations and e-commerce operation with companies like Infibeam, Future Group, and Maple Digital Technologies. Prior to retail, he was an analyst with Bank of America. In addition to being a financial controller, he is also spearheading Pragati Capital.