Tuesday, April 29, 2008

M.N. Srinivasu

"Electronic payments, as a sector, is on a high ride right now. Since banks want to retain their customers, offering electronic payment services is a good way to lock in customers. It also gives banks a good insight into their customers' share of the wallet. To both sides, viz. the banks and the customers, the givens, however, are convenience, efficiency, and cost savings."

M.N. Srinivasu, Co-founder & Director, BillDesk, Mumbai

April 29, over lunch


Murali said...


MN Srinivasu is a Director and a co-founder of BillDesk, India's leading Payments Service Provider.

Established in early 2000, BillDesk delivers and manages a range of electronic payments and remittance solutions for various vertical markets such as banking, telecom, insurance, utilities and financial services.

Starting with an initial 3-member founder team, the company has grown over the past six years to about 250 employees and offices in 30 cities across the country. Over this period, the Company has created and established a strong payments network – a service network that is availed by all the leading banks and utility/ billing companies in India.

As a Director of BillDesk, Vasu’s role involves visioning the business and strategic direction for the Company, focusing on team building, developing strategic alliances and resource mobilization for the Company.

Prior to founding BillDesk, Vasu worked with Business Consulting unit of Arthur Andersen in India and before that, for over 9 years, with ITC Limited across their various businesses. This provided him with a strong grounding in areas of business strategy, planning, resource management and understanding the Indian market terrain, especially the financial services domain.

It was during his stint at Arthur Andersen that Vasu recognized the opportunities that the rapid changes in banking and payments industry would create for entrepreneurial initiatives, and along with two other colleagues – Ajay Kaushal and Karthik Ganapathy - decided to take the plunge and establish BillDesk.

BillDesk was established with a clear strategy in mind to operate as a neutral, bank-centric service bureau that offered banking customers secure electronic payment service, for making their regular bill payments. Starting from that initial position, BillDesk has grown today to be India’s leading and trusted Payments Service Provider, aggregating multiple banks, billing companies and other corporations onto a common standards-based platform for delivering comprehensive electronic payments and collection services across multiple electronic channels.

The challenge in the initial years was that of convincing banks and billing organisations of the need and potential of electronic payments and the power of aggregation that a Payments Service Provider like BillDesk would deliver. The nascent stage of the industry and the fact that there was no other comparable proposition even globally compounded the initial difficulties.

However BillDesk leveraged this situation to quietly establish a wide network with deep technological/operational relationships with its partners. Their persistence paid off and today with the electronic payments market in India all set to grow explosively, BillDesk is positioned favorably to benefit strongly from such growth.

Vasu’s key role at BillDesk is to position the Company for market leadership and sustained growth by visioning the right market-role strategies and establishing strategic partnerships. His executive role involves leveraging his domain and functional experience to guide the Company by crafting growth strategies, focusing on team building and securing financing.

Today, with over 35 banks partnering with BillDesk on an exclusive basis, with about 100 of the largest utility organisations availing the BillDesk Payments services and with growth rates of more than 100%, India's leading Payment Services Company is clearly on the road to success. BillDesk also enjoys an exclusive partnership with Visa, the world’s leading payments services brand, to promote electronic payment services in India.

BillDesk has raised a total of $10 million via venture capital funding and was ranked among the 100 best technology companies in Asia by Red Herring Asia 2006. BillDesk has also been honoured with an award at the Deloitte Technology Fast 50 India 2006 Program that ranked it as the 5th fastest growing company in the technology, media and telecommunications space in India."

Vasu completed his MBA from IIM Ahmedabad in 1990 and Bachelors degree in Commerce from Madras University in 1988
A flagship brand of IndiaIdeas.com Ltd., BillDesk is India’s leading Payments Service Provider. Established in early 2000, by three ex-Arthur Andersen professionals, M.N. Srinivasu, Ajay Kaushal and Karthik Ganapathy, BillDesk delivers and manages specialized electronic payments and remittance solutions for various vertical markets such as banking, telecom, insurance, utilities and financial services.

A service bureau that offers banks, billers and customers a comprehensive bill presentment, payment and management service, BillDesk aims to be the one-stop destination from where customers can make all their payments at one time and from one location. It operates as a neutral service bureau aggregating multiple banks, billing companies and other corporations onto a common standards-based platform for delivering electronic payments and collection services across multiple electronic channels.

The benefits offered by the BillDesk platform are numerous. Customers can receive and pay all their bills from a single electronic location adding to their convenience and providing them with greater control over payments; billers benefit from reduced processing expenses and improved customer service from online presentment and payment of bills while banks benefit by reducing transaction costs, better customer service and a continued basis of interacting with customers.

BillDesk manages an extensive payments processing network, offering services to about 30 of India’s largest banks including SBI, Citibank and HDFC Bank and to leading companies such as LIC, BSNL, Hutchison-Essar, Franklin Templeton and Reliance Infocomm, Airtel, Tata Teleservices, and Reliance Energy. Visa, the world’s leading payment brand also has an exclusive arrangement with BillDesk for a unique online service that enables Visa cardholders to conveniently make bill payments using their Visa Cards. This is the first such service introduced by Visa for cardholders in the Asia-Pacific region.

Starting with the basic platform of electronic bill payment services, IndiaIdeas has grown over the past few years to be the most comprehensive provider of an integrated range of electronic payments solutions and transaction processing services, including managed applications for the banking, insurance and financial services industries. Today, BillDesk has one of the strongest management teams and infrastructure in the payment services industry, with over 175 employees and offices in 23 cities across the country.

BillDesk had secured initial funding for its businesses from SIDBI Venture Capital and Bank of Baroda. In June 2006, the Company secured strategic financing of $7.5 million from State Bank of India, India’s largest bank and Clearstone Ventures, a leading early stage venture capital fund with past success stories such as PayPal, Overture and MP3.com. These investments will help BillDesk accelerate its growth plans, increase the breadth and depth of its product offerings in the payments business and deploy a new delivery engine based on the latest technological and operational approaches.
Richa Seth
Adfactors Public Relations Pvt Ltd
Shalaka, Maharshi Karve Marg, Cooperage,
Mumbai 400021.
Tel: +91 22 2287 1361
Fax: +91 22 2287 1365

Mob:+91 99670 77190
Email: richa.seth@adfactorspr.com

VALUE PLUS said...

billdesk services at chennai is worst. inspite of recovering money from the subscribers' bank account, they are not remitted to service providers intime resulting in disconnection of services. that happened to me. better to close down rather than having inefficient team. no 24/7 365 days service as claimed. inefficient handling by m.n.srinivasu.