Techcircle Payments Forum 2016

  • Introduction
  • Agenda
  • Speakers
  • Venue
  • Sponsors
  • Partners
  • Registration

Techcircle Payments Forum 2016
Pay It Forward: Exploring an inclusive landscape for India’s emerging digital payment ecosystem

For long, India lagged behind mature markets in digital payments. But as more and more Indians go online, the digital payment industry in India is undergoing a transformation. In the metros, a number of payment banks, small finance banks and innovative solution providers have emerged, enabling seamless transactions for great user experience and better business outcomes.

What hasn’t gone unnoticed in this massive explosion in digital payments is India's leapfrog into ecommerce, presenting an opportunity for Indians to switch to electronic modes of payment. There are about 120 million smartphones in India, and 60 percent of internet users access the internet through mobile. The Indian government too is turning out to be a big enabler of digital payments; its Digital India program envisages a smartphone in the hand of every Indian by 2019.

Yet, only 260 million Indians in a country of 1.3 billion have bank accounts. Of the 30 billion payment transactions annually, over 95 percent are either through cash or cheques. How can big and small banks, payments banks, wallet providers and payment service providers work towards financial inclusion? How can innovations in the payment industry, brought about by new entrants in the market, strengthen the promise it holds? Will adoption of digital payments cannibalize slow and ineffective payments like cash?

In its 5th edition, the VCCircle Network’s Techcircle Payments Forum 2016 will seek to answer these questions and more. The event will offer a ring side view of the evolving dynamics, opportunities and success stories and offer thought leadership to the emerging payment ecosystem in India. It will see participation of CEOs of leading payment service providers, payment heads of leading banks, emerging payment service companies, technical directors, CIOs, digital payment and risk consultants, and private equity and venture capital investors keen on emerging payment technologies and innovative products.

   •  Emergence of payment banks: How can traditional banks respond?
   •  State and the new age businesses: Policies for a cashless economy
   •  Financial Inclusion Via Digital Payments: Technology for the masses
   •  Mobile Wallets: Is integration the way forward?
   •  Mobile Payments: Making way for NFC and contactless payment
   •  The Bitcoin Enterprise: A viable digital currency?
   •  Fintech Startups: Disrupting India’s payment landscape
   •  Problem of Plenty: Is B2B payment space too crowded?
   •  Creating high margin/high volume Payment Gateway Businesses

Techcircle Payments Summit
19th May, ITC Maratha, Mumbai
“Pay It Forward: Exploring an inclusive landscape for India’s emerging digital payment ecosystem”

08.30AM - 09.45AM
Registration and Coffee

09.45AM - 10.00AM
Opening remarks by Nita Kapoor, Head, India - New Ventures, Newscorp & CEO, The VCCircle Network

10.00AM - 10.30AM    
Keynote Address - ‘Disruption in Banking and Payments’ by TR Ramachandran - Group Country Manager, India and South Asia, Visa

10.30AM - 11.30AM
Panel Discussion 1: Emergence of New Payment Banks: How can traditional businesses respond?
As small banks and payment businesses transform Indian financial services, what is the way forward for traditional banks and payment technology companies? With the Reserve Bank of India (RBI) granting license to players with big pockets and sizeable consumer base, are traditional channels of banking & payments, under threat? How sustainable are payment banks and will they join hands with larger banks? Disruption being the buzzword, how are traditional banks innovating to stay in business?      

Sohini Rajola - Head Digital Banking, Axis Bank
Ananya Birla - Founder, Chairperson and Director, Svatantra Microfinance
TR Ramachandran - Group Country Manager, India and South Asia, Visa
Mihir Gandhi - Associate Director, Leader - Payments Transformation, PwC India
Amit Soni - Principal, General Atlantic (Moderator)

11.30AM -11.45AM
Networking Break

11.45AM - 12.45PM    
Panel Discussion 2: Mobile Wallets: Is integration the way forward?  
Right from utility payments to e-tailing and offline payments, one can perform most of the daily transactions with mobile wallets. The convenience that mobile wallets have come to be associated with has led to its early adoption among a large number of mobile users in India. However, as the payment landscape evolves and sees emergence of other innovative payment models, what does the future hold for mobile wallets? Are there limitations to their success? What happens to the money lying unspent in mobile wallets? With the advent of wallets for multi-platform use, what does the future hold for mobile wallets?                                             

Asutosh Upadhyay - Chief Product Officer, TranServ Pvt. Ltd
Ratna Viswananthan - CEO, Microfinance Institutions Network (MFIN)
Vikas Kumar - Partner, Lakshmikumaran & Sridharan
Raman Khanduja - VP and Head Business Development, India, Visa
Nitin Nayar - MD, Warburg Pincus India Private Limited
Gautam Jaggi - Director of Technology Practice, o3 Capital (Moderator)

12.45PM - 01.45PM
Network over lunch
01.45PM - 02.45PM
Panel Discussion 3: Digital Market Places & Payments
Marketplaces are an opportunity for payments processors. For most firms involved in processing payments, the business is about growing purchase volume and transactions - processing fees are based on either or both. Since marketplaces aggregate purchases made across many merchants, a payments provider can dramatically increase its processing volume and market share by winning the business of just a few marketplaces. It is likely that smaller payments processors may lose out in the process. What factors will decide the future?

Hemant Gala - Director - Payments, Flipkart
Gaurav Zutshi - EVP & Chief Digital Officer, Aditya Birla Financial Services
Sanjoy Bose - EVP Sales and Marketing - Wibmo Inc
Nitin Bhandari - Vice President – Payments, Digital Channels, Reliance Jio
Yadavendra Tyagi - Director, Business Development, Citrus Pay
Nikhil Raghavan - Principal, Bain Capital (India) Advisors Pvt. Ltd. (Moderator)

02.45PM - 03.05PM
Special Talk - ‘Digital technologies helping enhance customer experience and security for financial transactions’ by Srinivas Padmanabharao - Director - Product Marketing, Akamai Technologies

03.05PM - 3.20PM
Networking break

03.05PM - 3.50PM (Parallel Session)
‘Digital transformation in financial services’ by Akamai Technologies

03.20PM - 4.20PM
Panel Discussion 4: Problem of Plenty: Is B2B payment space too crowded?
Given the persisting issues and problems with regard current modes of B2B payment transactions, can disruptions in the B2B payments space hold the answer to a more efficient and cost effective business operations? How can emerging players with their disruptive ideas make a mark for themselves in the largely crowded B2B payments space? Why are businesses lagging behind in adopting a more efficient and effective modes of B2B transactions. Can B2C segment provide some insights for B2B?

Shirish Andhare - Chief Product Officer, Ezetap Mobile Solutions Pvt. Ltd.
Naveen Surya - Managing Director, ItzCash
Vishwas Patel - CEO, Avenues India Private Limited
Vishal Mehta - Co-founder and MD, Lok Capital (Moderator)

4.20PM - 5.20PM
Panel Discussion 5: The Bitcoin Enterprise: A Viable Currency?
Though at a nascent stage in India, bitcoins are slowly getting popular as the currency of future. The launch of merchant gateways by bitcoin exchanges may be the early signs of growing acceptability of bitcoin in India. Where do we see the digital currency go from here as a mode of payment? Worldwide, how has the controversial internet of money fared in terms of use and returns?

Sandeep Goenka - Co-founder, Zebpay
Danny Wettreich - Chairman & CEO, GreenBank Capital Inc
Benson Samuel - CTO & Founder,
Abheek Anand - Principal, Sequoia Capital
Norbert Fernandes - Co-founder & Principal, IvyCap Ventures Pvt. Ltd (Moderator)    

5:20PM onwards
Techcircle Unwind
Continue the energy and networking of the day with more social time with top entrepreneurs and leading investors.

Abheek Anand Abheek Anand Principal, Sequoia Capital India
Amit Soni Amit Soni Principal, General Atlantic | @generalatlantic
Ananya Birla Ananya Birla Founder, Chairperson and Director, Svatantra Microfinance
Asutosh Upadhyay Asutosh Upadhyay Chief Product Officer, TranServ Pvt. Ltd
Benson Samuel Benson Samuel CTO & Founder,
Danny Wettreich Danny Wettreich Chairman & CEO, GreenBank Capital Inc
Gaurav Zutshi Gaurav Zutshi EVP & Chief Digital Officer, Aditya Birla Financial Services | @AdityaBirlaGrp
Gautam Jaggi Gautam Jaggi Director of Technology Practice, o3 Capital | @o3capital
Hemant Gala Hemant Gala Director - Payments, Flipkart
Mihir Gandhi Mihir Gandhi Associate Director, Leader - Payments Transformation, PwC India
Naveen Surya Naveen Surya Managing Director, ItzCash | @ItzCash
Nikhil Raghavan Nikhil Raghavan Principal, Bain Capital Advisors (India) Pvt Ltd
Nitin Bhandari Nitin Bhandari Vice President – Payments, Digital Channels, Reliance Jio | @reliancejio
Nitin Nayar Nitin Nayar Managing Director, Warburg Pincus India Private Limited
Norbert Fernandes Norbert Fernandes Co-founder & Principal, IvyCap Ventures Pvt. Ltd.
Raman Khanduja Raman Khanduja VP and Head Business Development, India, Visa
Ratna Viswanathan Ratna Viswanathan CEO, Microfinance Institutions Network (MFIN)
Sandeep Goenka Sandeep Goenka Co-founder, Zebpay
Sanjoy Bose Sanjoy Bose EVP Sales and Marketing, Wibmo Inc
Shirish Andhare Shirish Andhare Chief Product Officer, Ezetap Mobile Solutions
Sohini Rajola Sohini Rajola Head - Digital Banking, Axis Bank
Srinivas Padmanabharao Srinivas Padmanabharao Director - Product Marketing, Akamai Technologies | @akamai
T.R. Ramachandran T.R. Ramachandran Group Country Manager, India and South Asia, Visa
Vikas Kumar Vikas Kumar Partner, Lakshmikumaran & Sridharan
Vishal Mehta Vishal Mehta Co-founder & Managing Director, Lok Capital
Vishwas Patel Vishwas Patel Chief Executive Officer, Avenues India Private Limited
Yadavendra Tyagi Yadavendra Tyagi Director - Business Development, Citrus Pay | @CitrusPay

Date : 19th May
Address : ITC Maratha,
Sahar Road, Next to International airport, Andheri East, Mumbai
Maharashtra 400099


Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks - VisaNet - that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit, and @VisaNews.


As the global leader in Content Delivery Network (CDN) services, Akamai makes the Internet fast, reliable and secure for its customers. The company's advanced web performance, mobile performance, cloud security and media delivery solutions are revolutionizing how businesses optimize consumer, enterprise and entertainment experiences for any device, anywhere. To learn how Akamai solutions and its team of Internet experts are helping businesses move faster forward, please visit or, and follow @Akamai on Twitter

Citrus Pay

Citrus Pay is leading the revolution towards mobile and digital payments across all spheres of a consumer’s life. Being led by Amrish Rau and Jitendra Gupta, it is India’s fastest growing fintech company that provides consumer payments and mobile banking services. It partners with the top airlines, utilities, marketplaces, and 9000 other merchants to enable seamless, secure payments for 25 million consumers. Citrus is known for introducing industry-first payment solutions such as 1-click checkout, wallet for cabs, consumer analytics, native mobile app payments etc. Few of the credible merchants associated with Citrus are Pune Municipal Corporation, Delhi Metro, Delhi Jal Board, PVR, INOX, BookMyShow, ShopClues, Jet Airways, Indigo, GoAir, TinyOwl, Faasos, Grofers, ZoomCar, Airtel, etc.

Lakshmikumaran & Sridharan

Lakshmikumaran & Sridharan (L&S) is a full service Indian law firm offering advisory, litigation and compliance services in direct, indirect and international taxation, intellectual property laws, international trade / WTO law and corporate & commercial matters including competition and environmental laws. Founded by V. Lakshmikumaran and V. Sridharan in 1985, the firm serves clients globally, through its 46 Partners and 300 attorneys. The firm is well-known for its high ethical standards, quality work and transparency in all its business dealings. L&S’s corporate clientele comprises of large business houses, multi-national corporations, banks and financial institutions including several Fortune 500 companies.

o3 Capital

o3 Capital is a mid-market investment bank, providing financial and strategic advice to clients. The company is built on two core businesses – Corporate Finance and Alternate Asset Management.

o3 Capital serves a wide range of clients including cutting-edge start-ups, established market leaders, private equity houses and large global corporate entities, across select verticals - Consumer, Healthcare, Industrials, Financial services, Technology and Digital. o3 Capital has successfully consummated 110+transactions in the last 9 years aggregating to over USD 4.5 bn in transaction value.


GlobalSign, founded in 1996, is a provider of identity services for the Internet of Everything (IoE), mediating trust to enable safe commerce, communications, content delivery and community interactions for billions of online transactions occurring around the world at every moment. Its identity and access management portfolio includes access control, single sign-on (SSO), federation and delegation services to help organizations and service providers create new business models for customer and partner interactions. GlobalSign’s core digital certificate solutions allow its thousands of authenticated customers to conduct SSL secured transactions, data transfer, distribution of tamper-proof code, and protection of online identities for secure email and access control. GlobalSign’s solutions are designed to address the massive scalability demanded by the emerging $14.4 trillion IoE market, where the ability to make secure networked connections among people, processes, data an


WIBMO Inc., The Mobile Payments company

With a track record second to none in India, WIBMO offers a comprehensive mobile wallet platform for innovative consumer/merchant payment solutions…globally.

WIBMO is the leader in authentication, virtual payment tokens, merchant payment technologies, coupled with real-time, inline, adaptive fraud prevention solution, and processing infrastructure connected to VISA, MasterCard global networks.


Razorpay is an online payment gateway, backed by Y Combinator, Tiger Global, Matrix Partners, and also seed funded by Ram Shriram, Justin Kan, founders of Inmobi and Snapdeal, Flipkart CPO to name a few. Razorpay allows merchants to accepts payment online via Credit Card, Debit Card, Net Banking and popular wallets from the end customers in real-time with a key focus on better success rates. Started in early 2015 by IIT Roorkee graduates, Razorpay is today India's fastest growing payment gateway. The USP of Razorpay in the gateway business is its simple yet robust platform which is not just customer friendly but also very technically savvy. The integration APIs provided by Razorpay are some of the most advanced ones in India and hence provide ease of integration and flexibility to its merchants. Razorpay’s product is specifically designed for Indian online payment ecosystem and is hence optimised for working at low internet speeds while still maintaining high success ratio


G-Square Solutions Pvt Ltd works in the Big Data Analytics & Business Intelligence space in the Financial services and Fintech space. It chose to be in this space realising the large Industry opportunity and our own subject-matter expertise. We have made a mark in the Analytics Industry working for reputed Banks, Payments, Asset Mgmt, Insurance, Wealth Mgmt, NBFCs and other Fintech cos. We have a strong products and services proposition for payment companies. We are trying to provide plug and play products to help Business Managers/Product managers/Analytics teams/Risk managers to get the analytics solutions leading to decision making on the go. Our product range includes:


• Narrator - Automated Insighting & prescriptive analytics tool  which throws valuable Insights and visualization for the business teams.
• Channelrator - is the sales analytic


Zaggle is an O2O (Online-to-Offline) & digital payments company focussed on creating, marketing & distributing innovative products that maximize value & choice for consumers & partners. A great example of this is the recently launched Zaggle restaurant cash back app which has seen a tremendous response from both users (with over 2 lakh downloads) and partner merchants (over 2000 restaurants) in the short span of 4 months since its launch in Pune & Hyderabad.

Zaggle is the brainchild of Mr.Phani Raj, who in 2011 wanted to disrupt the B2B gifting space and found the gift cards the perfect vehicle to achieve this. Zaggle has a rapidly growing card base with over 6 lakh cards in circulation, over 1000 corporate customers and over 150 large format merchant partners. Some of the marquee customers are Infosys, Tata Motors, Huawei, Vodafone, Legrand, Bayer, Panasonic, Samsung, Total Oil, Sky TV etc & our large format merchant partners are Lifestyle, Ca


"Benson Samuel and Mohit Kalra, founded Coinsecure with the mission, “Connecting India to Bitcoin.” Coinsecure works to educate and enable individuals and businesses to leverage Bitcoin and Blockchain technology through the first and only INR based blockchain explorer, an open order book exchange with a rest API, mock trading platform/testnet, paper wallet services, an online wallet service and various integrations. Coinsecure has successfully created a strong foothold in India with the highest liquidity and volumes in India. Coinsecure’s head office is in Delhi and houses the banking, compliance, accounts, legal, management and advisory teams. The development centre is in Bangalore."

Mumbai Angels Industry partner
Mumbai Angels

Mumbai Angels, started in 2006 is the first premium Angel network in India. The Mumbai Angels provides a unique platform to start up and very early stage companies by bringing them face to face with successful entrepreneurs, professionals and executives who are interested in and have the funds available to invest in start-up companies. Many members of Mumbai Angels have prior Silicon Valley experience. In addition to the capital of its members, the Mumbai Angels provides access to high quality mentoring, vast networks in India and abroad and inputs on strategy as well as execution.

Mumbai Angels provides its portfolio companies with a level of assistance that surpasses their highest expectations. Mumbai Angels network of relationships and their ability to leverage those relationships on behalf of their portfolio companies is unparalleled. Mumbai Angles members and their organisations have come to represent the ideal business partner for entrepreneurs who wish to start and

Startup Grind Startup Outreach Partner
Startup Grind

Startup Grind is a global startup community educating, inspiring, and connecting entrepreneurs. We host monthly events in more than 150 cities and 65 countries featuring successful local founders, innovators, educators and investors who share personal stories and lessons learned on the road to building great companies. Our monthly fireside chat interviews, startup mixers and annual conferences provide ample opportunities to connect with amazing startups and the people behind them, tap into a strong support network, form meaningful connections and gain inspiration for the startup journey ahead. For more information visit or follow us on twitter @StartupGrindIN / @StartupGrindMum.

LetsVenture Industry partner

LetsVenture is India's first and largest startup-investor platform. Founded in late 2013, LetsVenture is the most trusted marketplace for startups to create their investment ready profile, and connect to global, accredited investors for fundraising. Today 6500+ startups, 1200+ angel investors, and 200+ institutional investors from 21 countries are interacting on the platform. 57 startups have closed rounds on LetsVenture with $17M in total commits. Led by a strong team, with some of the best marque angel investors as advisors to the company, LetsVenture is an Accel funded startup, based in Bangalore.

Tie Pune Industry partner
Tie Pune

“The Indus Entrepreneurs (TiE) Pune: A non-profit global network of entrepreneurs and professionals, established to foster entrepreneurship and nurture entrepreneurs.

Fosters entrepreneurship globally through Mentoring, Inspiration, Networking, and Education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE Pune’s focus is on generating and nurturing our next generation of entrepreneurs. TiE Pune hosts a wide range of programs and events, including TiECon Pune, ( the largest professional and networking conference for entrepreneurs.

TLabs Incubation Partner

TLabs is the leading technology accelerator in India that operates a 4 month program, twice a year, with 60+ mentors supporting the companies that become part of it. With 6 Batches and 36 companies, TLabs has seen a tremendous success rate with over 65% of the companies getting funded raising over $200k investments per team. Startups that go through the program get intensive mentoring from in-house and external mentors to shape ideas into viable businesses.

Indian Angel Network Angel Partner
Indian Angel Network

Indian Angel Network, India's first and largest angel network, brings together successful entrepreneurs and CEOs who share a passion to enable more early stage businesses to create scale and value. By focusing on startups, the Network addresses the current acute lack of funds available to early stage companies. The Network believes that early stage businesses require more than just money to succeed. They require close mentoring and inputs on strategy as well as execution.

Indian Angel Network currently has over 300 members drawn from across the country and some from overseas, comprising the who's who of successful Indian entrepreneurs and CEOs from diverse sectors (information on The Network has met with early success and has already invested in 100 portfolio companies including investee and incubatee companies. IAN has become the hub for innovative ventures founded by high quality entrepreneurs seeking mentoring an

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