October - 2014 - issue > Startup of the Year - Prepaid Card Management

TranServ: Connecting Cash & Cashless Segments through Cost-Effective Service Suite

Kavitha G.
Sunday, November 23, 2014
Kavitha G.
With prepaid payment cards seizing more importance and momentum, India has started its journey towards a cashless transaction economy. Today, corporate customers look out for easier and streamlined ways of processing funds and they consider prepaid card as the preferred solution. This has not only led to an increase in the number of non-bank entities, but also has embolden banks to launch more specific purpose cards to rope in customers through risk free channels. The convenience of handling cards, proliferating corporate demands and rising consumption have driven prepaid market to burgeon and the cards are poised for a growth of projected 29.2 millionby 2016 & a hefty CAGR of around 40 percentduring the financial year of 2012-2017 (as per Indian Prepaid Card Market Outlook to 2017).

But to expand electronic payment landscape, banks and non-bank bodies cannot endeavorsingle-handedly. Thus, working collectively can change the face of future payment strategies. The shared vision of improving the payment settings brought a group of like-minded senior and respected bankers to move out of their comfort zone and incorporate TranServ Pvt. Ltd. which has now grown as one of the best emerging payments program management companies in the domain of electronic payments and prepaid payment solutions. With its flagship brand Shmart!Pay, the three-year old company has astounded its competitors with its suite of payment-friendly and ready-to-deliver products that enables cost-effective transactions.The offerings of TranServ product suite encompassprepaid cards, mobile virtual card, remittance card, multi-purpose Reloadable card and gift cards. Apart from these, TranServ also provides employee cards, Sales Chanel Incentive Cards, Customer Engagement Card and on the like customized and customer-centered solutions, making transactions safe and secure.

Over the years, there has been a significant increase in the companies who are wishing to work in electronic and digital payments formats. "Brands interacting with consumers in a digital format is going to be the future," asserts Sandeep. By partnering with banks of all kinds of genre, TranServ presents a creative combination of compliance monitoring & regulatory understanding of the bank and end-to-end payment program management services. The payment programs at the company are issued in association with Visa or RuPay in partnership with leading Banks in India. With integrated digital money payment platform, the brand endeavors to enable a conjunction with corporate clients and business entities, thus providing a better end-user experience. "While the company operates in a regulated and compliant environment, and has been certified by banks, it also gives an advantage of having much more economical models driven by our shared services packs. In a way clients look at us as the extension of banks," affirms Sandeep Ghule, CMO, TranServ Pvt. Ltd.

Embedding an Entrepreneurial Aura

TranServ firmly believes that creative innovations are born from repetitive trials. By unfurling their maximum potential, the company empowers employees to take ownership of terms and decisions, thus seeding an entrepreneurial spiritto enable unique creations. By outlaying a mix of formal and informal work culture, the company is buoyant that the collected experience and expertise of their crew has led the company to hit a home run. "If you decide that you want to be the first in the market, some risks have to be taken. We have calculated the risk and that's how we bring difference," explains Sandeep.

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