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  • By: Admin
  • 2020-02-05 22:24:11

UK Start up PayQ is ready to enter Indian Market as Non banking financial institution

From cherishing an unpretentious ambition of earning just $1,000 a month to building a Public limited Fintech start up with an Annual Recurring Revenue (ARR) of $100 Million recorded in FY 2019, Shibabrata Bhaumik, Founder and Chief Executive Officer of PAYQ, started in 2017; having its flagship presence in United Kingdom and in different parts of European Union and has been recently nominated as the top 10 promising startup up of London by NBC and FOX in early 2020.

If Shibabrata acquires the financial license from RBI and fulfills the protocols of other Governing Body, PayQ will be likely to enter the Indian market as a NBFC and a principal payment processor and acquiring company, partnering with local Indian banks for accepting payments for Indian merchants worldwide.

So far the biggest payment processor like PayU and CC Avenue can accept only domestic payments for Indian merchants, if PayQ expands it roots in India, it will be a Game changer specially for Indian merchants who pacts with high risk businesses like gaming, digital goods and services ,PC tech support, Online Pharmacy and many more.

Last year in 2019, Shibabrata declined a potential merger of $10.8 million from one of the top 5 EU banks and established himself and the company more valuable marque and established a brand, much ahead than the competing established European fintech companies like BrainTree Payment, company operated by PayPal and Paydiant, an e-Wallet platform which offers mobile payments and was acquired by PayPal in 2015 for $280 million.

"I would like to dedicate the expansion of the current state of PayQ to my fellow teammates of PayQ and ex- PayQer's who made this possible in a short span of three years", says Shibabrata Bhaumik.

Bhaumik continues, “Honestly speaking, I was distraught of the very fact that we don't have much of global payment acceptance company in India. From childhood I was inspired by PayPal, Adyen, Visa and Mastercard and I was astonished how those guys with just a laptop and a small team could able to add so much value to the global economy; where in we in India are still stuck into the traditional domestic payment acceptance and the cross border transactions are still considered as high risk payment by the traditional banks. I wanted to establish the fact that innovations does not only happen in Silicon Valley it might happen in Delhi, Kolkata, Mumbai or Bangalore. I wanted to ascertain that my company PayQ to have a track record where after 10 years if people look back at evolution of online payments, they could able to recognize PayQ as the prominent company that changed the trajectory of Indian payments. Just the way people conceive Japan as a great electronics building nation and China as the leading electronic manufacturer, India should also evolve as advance digital India where cross border transactions are not counted as High risk by the traditional banks.”

  • By: Admin
  • 2020-02-05 00:13:13


Delhi: The recent union budget proposal to increase the deposit insurance fivefold is expected to increase the confidence of the smaller operating Banks especially the private sector banks and small financial institutions and Cooperative Banks.

Against the back drop of an unstable financial system and the recent collapse of Punjab and Maharashtra cooperative (PMC), the budget proposed to raise deposit Insurance up to ₹5 lakh per depositor from the existing depositor of ₹1 lakh

According to the CEO of Fintech Start up PayQ, Shibabrata says, there will be a greater cover and is likely to assuage depositors and restore some faith in the financial system.

And this will create new measure, which will increase the deposits insured as a percentage of total deposit, which might turn around to be 40% to 50% from the 28% markup line as of fiscal year 2019

Shibabrata also believes that with the new change, the banks will get the benefit by increasing the confidence by the depositor. So far people kept only ₹1 lakh in such bank because of the low confidence on such banks and the recent banking scam by multiple banks, however as a situation have changed now, the depositor will deposit a large sum of money and possibly attract a higher interest rate.

He continues, for instance State Bank of India and HDFC Bank pays 6.1% and 6.3% interest rate, respectively however Suryoday Small Finance Bank and AU Small Finance Bank pay 8.25% and 7.5-7.63%, respectively on deposits of the same tenure.

The general public perception towards that state-owned banks, notwithstanding their risk profile, have a sovereign guarantee on deposits.

Also, the increment of the deposit insurance cover up to ₹5 lakh will relief India and help the nation to become the highest ranking financial sector after Brazil and USA.

This will bring back trust in cooperative banks, although we expect it will be only the proposed reforms in regulation of cooperative banks that will make the circle complete," said Shibabrata Bhaumik, group Chief Executive Officer of PayQ.

  • By: Admin
  • 2019-09-22 21:02:06

Beyond Just Regular Payments, Cross Border Transactions Powered By PayQ

An innovative start-up conceptualised by Shibabrata Bhaumik!

ShibabrataBhaumik, a well-known entrepreneur and philanthropist is far beyond an investor and founder of a start up. He is one of the most famous start-up coach and pioneer of digital payment system. Bhaumik completed his specialization in banking and finance industry that led him to work with various multi-national banks. Owing to his consistency and sustained performance, he has established a career, which is dynamic and is now excelling in technology to create solutions for a rich and engaging experience world wide for both users and merchants specially for the cross border transaction and high risk merchant acquiring.

Shibabrata’s operational and strategic leadership skills have turned his start-up from a 3 employees set up to a network of Fintech professionals in the social economic ladder building trust and excellence to enhance the digital experience about how transactions can happen in microseconds and get settled to the merchant instantly.

He has the strong analytical and presentation skills that easily influence and engage people because he believes networking to be one of the most important reasons behind success. He was recently been nominated for “Top 100 Exceptional NRI Entrepreneur” and “Dynamic CEO Business Award, London”.

While working with financial sector, he realized a gap that persisted in transaction and online payments and hence worked tirelessly to solve it. His remarkable success can be measured by the success of the first phase (Beta Version) launce of PayQ and well-intentioned realisation of more than 10,000 merchants globally.


About PayQ:

PayQ, an incomparable start-up by Shibabrata is now a leading network with more than 100 banks and can board merchants worldwide. It has been a leading system of payment acceptance due to emerging new techniques. PayQ has made internet based payment easy by making the system so global and robust. Reaching out to merchants living miles away has never been so easy and receiving payments as early as within two days with a proper check and balance system never seemed so practical and attainable in the past, but Shibabrata has made it possible with his futuristic and committing approach. High risk payment gateways are now made easy by the fast, reliable and secure transmission of transacted data.

CEO of PayQ, Shibabrata quotes, “PayQ is not only a brand rather a it’s a helping system to facilitate other small businesses to grow by leaps and bounds and flourish the global economy and create numerous job prospects”. He has based his innovative idea on an approach to provide advantage to all businesses; no matter how extended or small they are, to accept payments globally.

Some of the salient features provided by PayQ include:

  • Accepting payments globally via debit/credit cards and providing a set of rules for frauds.
  • 3 D secure system based on XML protocol which you can eliminate for your trusted customers.
  • Award winning security against fraud by providing 256 bit SSL encryption
  • Support High risk industries like payment gateway for technical support
  • You can try a test account via sandbox environment and can sign up once you are confident enough.
  • Billing your customers in their local currency to add ease and comfort.
  • Multi-lingual support system which has more than 10 foreign languages to facilitate customers with their payment options.
  • By: Admin
  • 2019-09-21 23:08:07


With over more than a million US Dollar monthly transactional revenue, PayQ, the new entrant as a global payment processor continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive payments globally.


Lately, this company declined a massive financial merger with the top 5 US Fintech giant, the inhouse team reports the merger was estimated at $10.8 Million. The CEO and the founder of PayQ, Shibabrata Bhaumik says “we are blazing a trail of innovation and leading the payment industry, specially in high risk business portfolio like Airlines, Pharmacy, Online IT based businesses & Hotel Booking. Our success is widespread and well known which we have achieved in a very short span of time by penetrating the major markets. At this stage, even I won’t be able to evaluate the actual worth of PayQ, it might be much more pricy than it has been evaluated as on date.


“Just look at my history – when founding PayQ, I was roundly dismissed… there’s no future in e-commerce, they would say; it’s not a profession that’s going to be conducive to an honest, worthwhile living. But looking at us now and the indicative amount of daily transactional volume, we are helping thousands of clients in expanding their businesses worldwide and make their digital payment solutions easier than ever before, and it all started from small origins,” said Shibabrata Bhaumik


He continues, PayQ did not reach a multi billion-dollar net worth by overnight; some might consider it as a over night success, however it involves lot of perseverance, team work and strong rooted dedication to develop a payment platform that can process multiple payment across the globe in a fraction of second in an absolute seamless environment. Every business has its peaks and valleys, but with more opportunities, you’ll have higher peaks and fewer valleys.


As recorded by UK Financial conduct, PayQ is processing 60 Million USD annually across the globe and is estimated to reach 100 Million USD in the next fiscal year, establishing itself as dominant financial global company which may qualify for a Nasdaq listing if the company goes public by this year end.


Witnessing the phenomenal success and exponential growing company, it might not be wrong to say the decision of declining the merger was very thoughtful and astutely certain.


Shibabrata says, its not only about making money, its more about the passion how the team is working day and night to grow PayQ. It is the energy and emotional investment that we have capitalized on PayQ to what we have developed it so far and we are still evolving and integrating it with new technologies and multiple banking partners worldwide.


My aim is to reach every part of the world and touch their local payment system along with the general payment methods like Visa , Master Card or Amex.

What we do is very unique with our state of the art technology, which is all-in-house without outsourcing anything outside PayQ edge, in addition to that our payment platform is multi lingual, multi currency, our processing engine is one of the best in payment company which is proficient to process endless payments in every fraction of second seamlessly and swifter than any traditional banks.


Our business acquiring team and underwriter can accommodate most of the businesses based on their business structure, which the traditional banks or Fintech Giants decline to onboard.

  • By: Admin
  • 2019-02-12 01:41:52


Financial analysis surging bank loans and expansion of credits may hit the monthly records in China, which means that the official efforts to stimulate the economic growth are kicking in and it can be seen as the potential sign of slowing the growth and this will sluggish the financial sectors of China at least for the first half of the Year 2019.
The high level of debts, which was witnessed in the last year, which China had been cracking down and will change this year and the trade war with United States forced officials to reverse the course for last year.
The new loans in China have recorded highest in January and as per the world economic bulletin, the world's second largest economy expanding at 6.6% is noticeable as the slowest growth of China in the last 28 years.

The height at which China was going through for the last 3 years have drastically strike down The high debts in the Chinese Market is clamping down on the credit in particular non-traditional form known as “shadow banking” which had badly suppressed the economic growth and pull down the Chinese financial sectors.

Last year Chinese Authorities acquiesced into the discussion with United States to encourage banks to lend more, cut down the taxes and support the small and medium sized companies and entrepreneurship projects.

New Yuan loans hit 3.23 Trillion Yuan ($481.76 billion), while total social financing, which measures loans and other bones reached 4.64 trillion Yuan.

Jian Chang, chief economist for China at Barclays, said that credit has expanded "quite significantly" and we can expect the economic growth to pick up in the second quarter of the year once more policies can come into the picture and making things easy for Chinese Government.

However some financial analyst and philanthropist like Shibabrata disagree to this and recommends that a close reading of the recent credit number tells a more nuanced story and it's too early to call an end to the growth slow down.
Shibabrata continues as It should be seen in a different prospect where the high level of debts in the slowing economy is mainly where the creditors are borrowing more money and taking up new credits to pay off the existing loans and instead of funding the real economic growth.
Moreover with the dual export and property market downturn, Shibabrata Bhaumik says “ China will struggle to see how real demand for credit will increase meaningfully” Adding to this, Shibabrata prescribes to continue wisely, as Chinese authorities "would prefer not to be viewed as 'overcompensating' the boost and would prefer not to imperil the accomplishments as far as containing influence and decreasing budgetary dangers."
Eminent economist Louis Kuijs of Oxford Economic authors the report and analysed and documented by Shibabrata Bhaumik, CEO of PayQ.
  • By: Admin
  • 2019-02-07 01:41:52


India will have the same sound accelerated growth and will remain as the fastest growing major economy, much ahead of China in the next decade according to the Global Economic report.
The report prepared by Oxford economics; which dominantly engaged in global economic forecasting and quantitative analysis have marked India as a country which will likely to achieve an average growth of 6.5 % in 2019 to 2028, the highest among the emergent economics.

India will be followed by Philippines which will be marked at 5.3% and Indonesia at 5.1%, quite surprisingly China has been assigned the 4th slot with an average growth of 4.5% for the next decade. The report also includes the factors like Rapid Capital Accumulation (RCA) mainly for domestically financed – and robust total factor productivity (TFP) growth that will point out emerging markets (EM)

To achieve a sustainable rapid growth in the next decade, the emerging markets (EM) will need a very controlled savings; according to the report to avoid the Middle Income Trap (MIT) the upper middle income countries in particular need to make lot of defined progress in terms of implementing different technologies and mastering it and raising the involvement of people which are involved in innovation, technical Intelligence and Research & Development (R&D).
India is projected to grow at 7.5% in 2019 and 7.7 in 2020 more than China estimated growth of 6.2% in this two years according to the International Monetary Fund report and the recent world economic Outlook update.
Eminent economist Louis Kuijs authors the report and analysed and documented by Shibabrata Bhaumik.
  • By: Admin
  • 2018-12-25 23:41:37

Tips and Tricks for Merchant Account

It is the end of the year, the best time to sit back and take into account of all that has happened during the year. It should not come as a shock that you will discover that you might have paid more on transactions and other miscellaneous charges.
You are not alone in this case; a lot of businesses have fallen prey to high risk merchant account managers who end up ripping them of their hard earned money. Payment gateway is one of the most important businesses needs, that does not mean you should be ripped by high risk merchant account managers. As a business owner, you should understand high risk merchant account. It is a subset of services that allow businesses to accept card payments from customers. Credit card processors assign merchant to a number of categories. This also affect the payment schedule.
There are three different types of payment means that High risk merchant account charge. This is free of all the business jargon that you would find in other articles dwelling on the same issues:
Flat Rate: Flat rate payment is usually the best payment means for merchants who use payment gateway sparingly. It is usually not high risk merchant account, it allows you to pay per transaction and amount varies from one payment gateway to another. This payment type may be high by the end of the month but it is easy to follow as there are no ancillary or extra charges. The billing is simple and clear. Most high-risk merchant account does not offer flat rate payment as it is not easy to add unnecessary charges.

Tiered Rate:

The next form of payment form is tiered rate. This payment form is divided into three different types namely qualified, mid-qualified, non-qualified. Processors intensity bundle the rates process transaction and offer you facilities as tiers. It seems like the form of payment gateway form you would understand the most, that is not the truth in reality. It preys on ignorance to fleece the business owners of their hard earned money. That is exactly why the third mode of charging is best recommended.

Interchange plus:

This form of pricing is best for merchants who process a high amount of funds per month or per annum. This form of pricing does not fall under high risk merchant account and you can easily know where you stand since it carries a sort of contractual form. The process that the interchange plus payment gateway takes is very complex, that should mean that there will be a lot of hidden charges, right? Yet again, that is not true. The interchange point pricing system is complex but the charges are quite straightforward. PayQ for example, offers interchange plus plans to merchants in the enterprise edition. This saves a lot of cost. There can be many add-on fees associated with a merchant account so be sure to enquire before you sign up with a merchant account providing company and get a deal negotiated if you have high processing volume. This important part of the contractual deal allows you to negotiate the terms of your contract while you are on it. Beyond every aorta of doubt, PayQis your best-integrated payment gateway and merchant account provider; it is a high risk merchant account providing company that will give you the best value. It is time to give your business a boost; get on board. PayQ is simple, stauncher and safest payment gateway of all high-risk merchant account, and it also offers the best rates in the industry. If you want to process your payment in real time and give your business a boost, PayQ is the platform for you.
For any enquiries, email at hello@payq.eu or call customer support at +44-1213680164
  • By: Admin
  • 2018-12-25 12:56:40

European Commissioner Margrethe Vestager might investigate Apple Pay

Vestager may investigate Apple pay also indicated that Google and Amazon would remain very much on their radar.
So far Google has been fined a total worth of 6.8 billion euros ($7.7 billion) in the last 18 months for breaching the regulations of European Union e-commerce transaction.
The modern apples mobile payment gateway serviceApple Pay that was launched in October 2014 is now available in 10 European countries including France, Italy, Spain, Sweden and Denmark got off lately into limelight due to wrong reasons.

In an interview with Reuters, the European commissioner Margrethe Vestager indicated that an NFC chip enabled in Apples iPhone processes Apple pay as an automatically selected payment system when an iPhone user pay for goods and services forbidding rival payment methods and other wallets.

This issue was indicated by the Danish consumer council and was reported strictly to Danish Competition Authority to investigate the matter in depth so that the European Union regulations are not impeded and business have affair usage policy.
Vestager who has earned notoriety for taking an extreme line against organizations that infringes EU Regulations and can force fines of up to 10 percent of an organizations worldwide turnover, said she completed a preliminary check some time back.

She said When we were taking a gander at it ... at first look, we could not see Apple being overwhelming. That does not bar later on that we will have a second look. In any case, when we looked some time back, we did not discover ... the important proof to begin a case.

Clearly when we had official protestations against Apple Pay, we considered the seriousness in light of the fact that the whole payment mechanism is online and is vital showcase for the finance stability in EU.
However anyone from Apple have denied to recognize it and declined for any comments.

Vestager is also auditing whether Amazon is utilizing vendors information illegitimately to make its very own image items like retailers. She said she has been immersed with information, key to building a body of evidence against the U.S. online retailer.

She continued Presently we have gotten not heaps, but rather piles of information and for us it is a need to experience that, both from Amazon themselves yet in addition rolling in from a portion of the organizations that they really have For us, obviously it is imperative to get the beginning stage right on the grounds that, on the off chance that we open a case, so as to have the capacity to continue with some speed, well at that point obviously we have to get a portion of the nuts and bolts right and we are doing that& As of late Vestager inquired as to whether the Google search tool unreasonably downgrades nearby pursuit contenders, raising the likelihood of a fourth antitrust body of evidence against Google. Presently we make inquiries with regards to local search engines. This implies a great deal to numerous individuals since you utilize your mobile phones or your tablet, you are searching for a place to eat, opening hours, where to go, historical centers, specialists, doctors or a wide range of stuff and along these lines obviously it is a critical region, an imperative administration, she said.It could be (a fourth case against Google) but of course we start asking questions without prejudice.
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