Ranveer Khyaliya: A Young Entrepreneur With Personal Foresight To Identify & Meet India's Digital Payment Needs
Ranveer Khyaliya
Founder & Director
RNFI is the fastest growing fintech organization that provides an ultimate platform for distributors & retailers who provide online payment services, offering all the products and services. They consist of a personal foresight which is to cater to a low margin and high volume oriented business model for the middle to low-income classes in the country. It provides an ultimate platform for distributors & retailers who provide online payment services, offering all the products and services. RNFI was established in the year 2015 by Ranveer Khyaliya who is leading this organization with excellence and constant innovation.
Engaging with a team of CEO Insights in an exclusive interaction, Ranveer shares the story of his journey as the director of the prominent fintech organization RNFI.
Tell us about your educational and professional background before RNFI Services. When you first started working; did you foresee that this is where you would be?
I obtained my Bachelor's degree in Computer Applications from Rajasthan University in 2010 followed by my Master's degree from Amity University in 2013. Right from the start of my career, I was clear that I would shape my path towards working around Fintech Products. Immediately on completion of my Masters, I joined Web streaks Solutions as a Software Developer in 2013. In 2015, I started my entrepreneurial journey and founded RNFI Services with a vision to be one of the significant players in the retail payments services and planned to foray into mass disbursement solutions company that is driven by innovation, technology & customer centricity to offer technology based, secure & cost-efficient payments services to the mass segment.
What additional benefits do your company's payment services offer
to consumers that make it standout in the prevailing competition? You offer various payment services. Brief us about these services with a key emphasis on your flagship offering.
Our service is a one-stop solution for all B2B Digital Payment solutions. We take pride in the fact that we are the fastest-growing fintech platform offering a bouquet of services. Our USPs are several, but to name a few, we have indigenously developed a technology platform that is our main drive for our business growth. We can proudly proclaim our platform to be extremely strong on KYC compliances and validation processes. It's a user-friendly application that is easy to understand and use. We have strong alliances with banks and corporates to help expand the business. In terms of Distribution Channel, we have approximately two lakh retails points and growing.
Besides the DMT, Recharges & Bill payments, we are also providing a fintech platform for other digital and online financial services like AePS (Aadhar Enabled Payment System), M-ATM, Wallet Loading, CMS services, MPOS, QR codes, Aadhaar Pay and Travel bookings like IRCTC and flight ticket bookings. Domestic Remittance Services and AePS are our flagship offerings through which we facilitate financial inclusion programs, acting as CorporateBusiness Correspondents to several Scheduled Banks and Payment Banks.
What are the major expectations of clients from your company? Please elaborate on your safe, secure, reliable and quickest payment gateway solution that helps in connecting semi-urban and rural India to the mainstream of economic development.
We strive to provide banking to the unbanked population via a B2B2C digital platform. We have a proven track record of building top performing software applications for payment businesses and product lines. We forayed into the Business Correspondents model of Business to supplement the government's mission for the implementation of financial inclusion in the country. We can rightly claim to be one of the largest business correspondents in India in terms of volumes, geography spread and the distribution network in the timeframe of just five years. Our current monthly volumes are in the tune of over Rs. 3000 crore.
Our service is a one-stop solution for all B2B Digital Payment solutions. We take pride in the fact that we are the fastest-growing fintech platform offering a bouquet of services. Our USPs are several, but to name a few, we have indigenously developed a technology platform that is our main drive for our business growth. We can proudly proclaim our platform to be extremely strong on KYC compliances and validation processes. It's a user-friendly application that is easy to understand and use. We have strong alliances with banks and corporates to help expand the business. In terms of Distribution Channel, we have approximately two lakh retails points and growing.
Our system architecture is designed to cater to any amount of transactional traffic to keep ourselves amongst the top service providers in the industry
Besides the DMT, Recharges & Bill payments, we are also providing a fintech platform for other digital and online financial services like AePS (Aadhar Enabled Payment System), M-ATM, Wallet Loading, CMS services, MPOS, QR codes, Aadhaar Pay and Travel bookings like IRCTC and flight ticket bookings. Domestic Remittance Services and AePS are our flagship offerings through which we facilitate financial inclusion programs, acting as CorporateBusiness Correspondents to several Scheduled Banks and Payment Banks.
What are the major expectations of clients from your company? Please elaborate on your safe, secure, reliable and quickest payment gateway solution that helps in connecting semi-urban and rural India to the mainstream of economic development.
We strive to provide banking to the unbanked population via a B2B2C digital platform. We have a proven track record of building top performing software applications for payment businesses and product lines. We forayed into the Business Correspondents model of Business to supplement the government's mission for the implementation of financial inclusion in the country. We can rightly claim to be one of the largest business correspondents in India in terms of volumes, geography spread and the distribution network in the timeframe of just five years. Our current monthly volumes are in the tune of over Rs. 3000 crore.
We facilitate every person in the country via our online payment platform. Approximately seven million unique customers are being able to withdraw cash, deposit funds and/or transfer from anywhere to every where in India using our payment gateway solutions platforms. One can pay utility bills, recharge mobiles or DTH, and do travel bookings, all on a single platform with instant confirmation.
Tell us about the technology that you leverage across your services.What are the certifications/ regulatory compliances that your company adheres to while offering these services?
Our system architecture is designed to cater to any amount of transactional traffic to keep ourselves amongst the top service providers in the industry. Along with this, we are using multiple encryption algorithms to keep our completely safe and secure. We are certified for ISO 9001:2015, Quality Management System and ISO/IEC 27001:2013 Information Security Management System.
Tell us about your team. How is your combined experience helping in the company's growth? Please tell us about your current projects.
We have a strong close-knit team comprising of two more management team players having rich experience. Kapil Chawla is an Industry Veteran and has 20 years of experience in sales & distribution of Telecom and Financial Products. He has been one of the biggest distributors of Financial Products in India and being so close to the ground and knowing the challenges, his ability to manage large scale operations, mass distribution and rural marketing has been crucial. Nitesh Kumar Sharma is a BTech Graduate and carries eight years of rich experience. He is keenly aggressive and a real taskmaster. He has his undivided focus resting on ensuring digital & online financial solutions that connect semiurban and rural India with mainstream economic development.
We have an assertive plan for the expansion of the network and the diversification of products. We see a lot of Growth Potential in Banking Penetration through Financial Inclusion. We are working on various new products to create a huge stir in the Market.
Chintan Sharma, Manager- Product & Strategy
Awards & Recognition:
Got selected by CIO Review Magazine in being one amongst ‘10 most promising cards and payment service providers 2020'. Besides the same We are certified for ISO 9001:2015, Quality Management System and ISO/IEC 27001 :2013 Information Security Management System.
Tell us about the technology that you leverage across your services.What are the certifications/ regulatory compliances that your company adheres to while offering these services?
Our system architecture is designed to cater to any amount of transactional traffic to keep ourselves amongst the top service providers in the industry. Along with this, we are using multiple encryption algorithms to keep our completely safe and secure. We are certified for ISO 9001:2015, Quality Management System and ISO/IEC 27001:2013 Information Security Management System.
Tell us about your team. How is your combined experience helping in the company's growth? Please tell us about your current projects.
We have a strong close-knit team comprising of two more management team players having rich experience. Kapil Chawla is an Industry Veteran and has 20 years of experience in sales & distribution of Telecom and Financial Products. He has been one of the biggest distributors of Financial Products in India and being so close to the ground and knowing the challenges, his ability to manage large scale operations, mass distribution and rural marketing has been crucial. Nitesh Kumar Sharma is a BTech Graduate and carries eight years of rich experience. He is keenly aggressive and a real taskmaster. He has his undivided focus resting on ensuring digital & online financial solutions that connect semiurban and rural India with mainstream economic development.
We have an assertive plan for the expansion of the network and the diversification of products. We see a lot of Growth Potential in Banking Penetration through Financial Inclusion. We are working on various new products to create a huge stir in the Market.
Chintan Sharma, Manager- Product & Strategy
Awards & Recognition:
Got selected by CIO Review Magazine in being one amongst ‘10 most promising cards and payment service providers 2020'. Besides the same We are certified for ISO 9001:2015, Quality Management System and ISO/IEC 27001 :2013 Information Security Management System.