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New Delhi [India], August 10 (ANI/SRV): Muthoot Pappachan Group that has specialized in gold loans for over a century has picked up 54 per cent stake in Hyderabad-based fintech start-up Paymatrix by buying out investors as part of its added focus on the digital segment. Paymatrix is a fintech company that was set up in 2016 by Mukesh Chandra Anchuri and Muralidhar Nayak Guguloth as a platform to enable individuals and businesses to make their payments such as rental advances, security deposits, and maintenance on credit cards. "We started with a small use-case of offering rent-related payments on credit cards to eventually evolve into a Virtual swiping machine or a soft PoS(Point-Of-Sale) enabling payments for all expenses and bills using a credit card. The idea of Paymatrix was conceived when we faced a similar situation of arranging 300,000 INR as rental deposits to our landlord in Bombay," divulged Mukesh, Chief Executive Officer of Paymatrix. Since their landlords didn ....

United Arab Emirates , Andhra Pradesh , New Delhi , Mukesh Chandra Anchuri , Muralidhar Nayak Guguloth , Jan Dhan Yojana , Muthoot Pappachan Group , Xseed Partners Iiith Seed Fund Foundation , Chief Executive Officer , Virtual Pos , Smart City Dubai , Pappachan Group , Pradhan Mantri Suraksha Bima Yojana , Rupay Cards , New Delhi India , Ugust 10 Ani Srv Muthoot Pappachan Group That Has Specialized In Gold Loans For Overa Century Picked Up 54 Per Cent Stake Hyderabad Based Fintech Start Paymatrix By Buying Out Investors As Part Of Its Added Focus On The Digital Segment Isa Company Was Set 2016 Mukesh Chandra Anchuri And Muralidhar Nayak Guguloth Asa Platform To Enable Individuals Businesses Make Their Payments Such Rental Advances , Security Deposits , Nd Maintenance On Credit Cards Quot We Started Witha Small Use Case Of Offering Rent Related Payments To Eventually Evolve Intoa Virtual Swiping Machine Ora Soft Pos Point Sale Enabling For All Expenses And Bills Usinga Card The Idea Paymatrix Was Conceived When Faceda Similar Situation Arranging 300 , 000 Inr As Rental Deposits To Our Landlord In Bombay , Uot Divulged Mukesh , Hief Executive Officer Of Paymatrix Since Their Landlords Didn 39t Accept Any Credit Card Payments , Ukesh And Muralidhar Seeded The Idea Ofa Platform That Can Assist Individuals To Meet Liquidity Requirement For Large Ticket Payments Or Unforeseen Expenses Goes On Say Their Paymatrix App Enables Businesses Use Credit Cards Pay Any Expense Into Bank Account Of Recipient It Is Likea Digital Swiping Machine Virtual Pos This Stands Be 39s Core Value Proposition Too Rent , Uition Fees Etc And Businesses Can Pay For Expenses Such As Payroll , Uppliers And Vendors Directly Into Their Bank Account Usinga Credit Card Quot We Facilitate Various Value Added Services To The Customers Such As Bill Payments , Arent Payments , Tility Bill Payments Electricity ,