Paytronic: Creating ripples in the prepaid market
By Ojas Sharma   |    5 Comments
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Paytronic: Creating ripples in the prepaid market
India has become the second largest telecom market in the world. There are about 400 million subscribers in the country today and out of them majority are prepaid subscribers. It won't be hyped if we say that Telecom is the only sector that has not been hit by economic slowdown. The stage is well set for startups who dare to think of innovative ideas to make profit in this sector. With this in mind, Paytronic was founded in mid 2007 as a small two member team which has now grown to more than 100 across India. Their first product is called Recharge - Point, which is a simple mass market brand that provides prepaid mobile top-up through 30,000+ points across India. They also provide DTH recharges, with the help of their recharge points they plan to extend the same to all prepaid service providers that are looking for electronic distribution. They currently have strong relationship with all the telecom operators in almost all the circles in India. Paytronic boast of network of 30,000 merchants in which they add almost 100-150 merchants daily. Pradeep Thomas Abraham, a part of founding Paytronic team, has over 16 plus years experience in the IT and Telecom industry with hands on experience in channel sales and operations. Funded by Odyssey Capital, Paytronic recently launched its second product called 'Payin2'. With the help of this, product companies can utilize their network of "Recharge Points" in India to acquire new customers or recharge their customer accounts. For example, a gaming website can accept payments for their customer's account through Paytronic network, wherein the end customer goes to any of the merchants in the network and pays cash to the shopkeeper. He gets an instant SMS informing him about the new balance in his account. With the help of Payin2, merchants can set up their own retail channel to accept payments, get access to people without credit/debit cards, avoid major capital expenditure required in building and managing the network and improve customer satisfaction and revenues by providing them a large number of shops where they can make payments. The goal of the Paytronic is to become the leading cash acceptance network in the nation. Their model is to become a one stop shop for accepting payments, predominantly services from prepaid companies. After all, industry which has monthly-prepaid business of 7000 crores, offers perfect opportunity for startups to prosper.

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