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Press Release

Nucleus Software delivers PaySe Digital Cash in 3 new form factors

January 4, 2017 | Press Release

PaySe expands its solution across a range of consumer offerings

New Delhi. India. January 04, 2017. Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced availability of its PaySe™ Digital Cash solution in 3 new form factors payment: smart watch, band and micro SD card. By increasing the form factors supported, beyond the original hardware wallet and Near Field Communication (NFC) card, PaySe has now opened a range of new use cases for digital cash.

PaySe™, a revolutionary Patent-Pending, secure peer-to-peer offline payment platform, is designed to disrupt the card payment market. Traditional card-based payments are based on a hub and spoke methodology and hence are focused mostly on the connected and banked population of the world. However, 2 billion adults (almost 40% of world’s population) remain without a bank account (Global Findex Database 2014) and nearly 57% of the global urban population remains unconnected to broadband internet, with 37% living in some of the world’s wealthiest cities. These unbanked, unconnected adults need to make payments, which are currently made using cash.

Since its commercial launch in mid-2016, PaySe™ has helped move micro-savings of unconnected from rural areas to banks and enabled micro-lending for this segment to the tune of 10 million Indian Rupees. Banks and other financial institutions have often struggled to deliver cost-effective financial services to the last mile mainly as a result of the cost involved in making cash accessible. PaySe™ addresses this by digitizing cash, and PaySe™ merges some of the properties of physical cash with the convenience of a debit card.

Mr. Ashutosh Pande, Founder and Chief Innovation Officer of PaySe™, will be speaking about PaySe™ at the Digital Money Forum at 12:20 PM on January 5, 2016 and briefing media in Living in Digital Times Press breakfast at Venatian, Level 2, Bellini 2003 at 9:45 AM on January 6, 2017.

About Nucleus Software

Nucleus Software Exports Ltd. is a publicly traded (BSE: 531209, NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders.

Nucleus Software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas. Its products facilitate more than 26 million transactions each day, managing over US $ 200 billion of loans and enabling more than 200,000 users logging in daily.

Nucleus Software’s flagship products, built on the latest technology are:
  • FinnOne NEOTM : The next-generation digital lending solution that is built on an advanced technology platform, designed to shape the future of lending across Retail, Corporate and Islamic sectors for banks and other financial service companies. The 10 time winner of ‘World’s Best Selling Lending Solution’, helps digitize the complete loan lifecycle.
  • FinnAxiaTM : An integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.
  • PaySeTM : The world's first online & offline digital payment solution designed and created with an aim to democratize money by making banking services available to the unbanked in remote geographies.
For more information, please visit : http://www.nucleussoftware.com

For Media related information, please contact:

Sunil Kumar Singh / Kiran Hans Khowal

Finese PR

Email: nucleus@finesepr.com
Phone: +91-9818363518 | +91-8375969143