Concerto Software & Systems

What Concerto Software & Systems does

Concerto Software & Systems Pvt Ltd is a privately held Indian payments technology company founded in 2008 and headquartered in Navi Mumbai, Maharashtra. The company delivers an end-to-end payment infrastructure portfolio covering switching engines (BASE24 EPS, POSTILION), reconciliation (Samah), fraud detection (COMBAT, PRM), authentication (DigiPIN, V2Verify), card management (Ultimus Card, Hilarion, MARS), data protection and tokenization (Crypto, TAMUNIO), key management (TMK), payment gateway (Vegaah), core banking (Silvia CBS), testing tools (Validator, Simic, PAYSIM, Robotic Testing Automation), and India-specific real-time payment solutions (BBPS, UPI). Its primary customers are banks, payment processors, acquirers, and card issuers across 20 countries with offices in India, the USA, the UK, and Malaysia, plus operational reach into the Middle East.

Revenue is generated through four streams: software licenses and subscriptions for proprietary on-premise and cloud products; professional services covering EFT switch development, implementation, testing, and portfolio management; payment gateway transaction fees from the RBI-authorized Vegaah aggregator; and CloudPe hosted subscription services. Distribution relies on direct enterprise sales combined with strategic technology partnerships — most notably a flagship relationship with ACI Worldwide dating to 2008, alongside alliances with HPE (since 2013), Comforte (since 2017), and Change Financial (since 2011). The company holds PCI DSS v4.0.1, ISO/IEC 27001:2022, and Visa Service Provider credentials, and lists 420+ e-payment experts and 60+ clients on its website, with a self-reported 30% year-over-year growth rate.

Leadership is anchored by co-founder and Director Siddhartha Pande (40+ years in payment systems) and co-founder and Director Jiss Jose (EFT/e-payments), supported by regional and functional heads covering technology, payments, fraud, Europe/Middle East operations, and Americas business. The ownership structure is not publicly disclosed; the Pvt Ltd designation implies a closely held entity with no external institutional investors identified in the available data.

Name

Concerto Software & Systems

Legal name

Concerto Software and Systems Pvt Ltd

Website

https://concertosoft.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

Concerto Software & Systems is a privately held Indian payments technology company providing payment switching, fraud detection, reconciliation, authentication, card management, and data protection solutions to banks, payment processors, and financial institutions across 20 countries, anchored by a flagship ACI Worldwide partnership.

Ownership category

akta.pro rank

Product category

Payment Processing Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Software Publishers (5132), Custom Computer Programming Services (541511)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)

akta.pro primary industry

Processor Back-End & Switch Providers (Issuer/Acquirer Processing Infrastructure) (FSAMABAJ)

akta.pro secondary industries

Payment Gateways & Orchestration (BPAMAFAA), Payment Orchestration Platforms (Multi-PSP Routing) (FSAMACAB), Card Issuing & Program Management Platforms (BPAMAFAH)

Keywords

• Payment processing software
• Fraud detection platform
• Card management solutions
• Payment gateway services
• Transaction reconciliation

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Licenses and Subscriptions: Revenue from proprietary software products including payment processing platforms (BASE24 EPS, POSTILION), data protection solutions (Crypto, Tamunio), testing tools (Validator, PAYSIM, Simic), and value-added solutions (TMK, Rhythm, CAMS+). Products offered as on-premise or cloud-based subscription models.
2. Professional Services: Consulting and software services including EFT switch development, implementation, testing services, and portfolio management. Services include consultancy for switching, open systems, cloud services, dedicated testing resources, and onshore/offshore support desk services.
3. Payment Gateway Transaction Fees: Revenue from Vegaah payment gateway processing transactions for merchants. Gateway authorized by RBI to operate as Online Payment Aggregator with configurable fee profiling.
4. Cloud Subscription Services (CloudPe): Hosted subscription platform providing software solutions as service on subscription basis including hosted payment gateway and reconciliation solutions.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Concerto Software & Systems develops and sells proprietary payment technology software, including payment processing engines (POSTILION, BASE24 EPS), fraud detection platforms (COMBAT, PRM), an RBI-authorized payment gateway (Vegaah), card management systems (Ultimus Card, Hilarion), authentication solutions (DigiPIN, V2Verify), data protection tools (Crypto, Tamunio), reconciliation software (Samah), testing tools (Validator, Simic, PAYSIM), and India-specific payment products (BBPS, UPI). The company also delivers professional services such as EFT switch consultancy, implementation, testing, and portfolio management to banks, payment processors, and financial institutions globally.

Product overview

Concerto Software & Systems provides a comprehensive payments technology portfolio organized into five product categories: Data Protection (Crypto encryption/tokenization, TAMUNIO data governance), Transaction Processors (payment gateway Vegaah, reconciliation Samah, fraud detection COMBAT and PRM, payment engines BASE24 EPS and POSTILION, authentication DigiPIN, card management Ultimus Card/MARS/Hilarion, core banking Silvia CBS), Automation & Testing (Validator, Simic, Robotic Testing Automation, PAYSIM), Value-Enhancing (TMK key management, Prognosis monitoring, V2Verify voice authentication, SniFra web intelligence, CAMS+ alarm monitoring, Rhythm ATM management), and India-Specific (Bill Payments BBPS, Unified Payments UPI). The company also offers hosted subscription platform CloudPe for software delivery. Professional services include consultancy, testing services, and portfolio management covering EFT switch, data replication, card associations integration, fraud/risk management, and payment gateway operations.

Differentiator

Problem solved

Functional benefit

Brands

• Vegaah: RBI-authorized e-commerce payment gateway solution
• CloudPe
• Samah
• DigiPIN

Products and services

• POSTILION Integrated payments processing platform for banks, processors, and merchants with modular scalable architecture, full transaction coverage, PA-DSS compliance, advanced authorization, and active/active high availability architecture. Enables seamless omni-channel transaction exchange across internal and external networks.
• BASE24 EPS Highly scalable and reliable payment engine with flexible routing, scripted authorization, and parameter-driven processing. Supports on-premises or private cloud deployment with low total cost of ownership, real-time visibility, and omni-channel ready architecture.
• COMBAT AI/ML-powered online platform to detect and mitigate potential fraud in financial transactions using real-time and post-transaction analysis. Features rule-based controls, live monitoring dashboard, and dynamic rule management using SQL-like queries across Card, E-Commerce, and UPI channels.
• PRM (Proactive Risk Manager) Enterprise-grade fraud and monitoring platform with 360-degree cross-channel visibility, real-time and near real-time alerts, advanced rule engine, and case handling for financial and non-financial transactions.
• DigiPIN Customer authentication and transaction security solution powered by 3D Secure ACS, Green PIN, and HSM-enabled OTP generation. Supports ATM, IVR, I-Bank, Mobile, and Kiosk channels with live transaction dashboards.
• V2Verify Voice authentication solution for secure banking and enterprises that combines voice intelligence, device trust, behavioral analysis, and contextual signals. Features deepfake-resistant zero-trust architecture with five silent checks.
• Vegaah RBI-authorized e-commerce payment gateway solution with flexible architecture supporting integration with major card schemes. Features configurable hosted payment page, merchant aggregation, and subscription/recurring payments support.
• Crypto HSM-backed encryption and tokenization solution for sensitive data protection. Only token IDs are exposed across delivery channels, ensuring high security and regulatory compliance with end-to-end encryption.
• Tamunio Cloud-native data discovery, protection, and controlled use platform for sensitive data across modern environments. Delivers data-centric security and governance across on-premises, hybrid cloud, and HPE NonStop environments.
• Samah Automated reconciliation software for transaction matching across major payment modes with unique reconciled and unreconciled reports, IMPS and UPI reconciliation, and intelligent dispute management.
• Ultimus Card Next-generation Card Management System for debit, prepaid, and virtual cards. Enables full lifecycle control, flexible prepaid programs, smart limit profiles, and instant virtual card issuance.
• MARS Multi-tenancy merchant and terminal onboarding and management system with multi-hierarchy configurations, KYC scoring, daily P&L reports, automated settlement, and chargeback management.
• Hilarion Card Management Solution covering issuing solutions, acquiring solutions, authorization and switch, clearing and settlement, fraud management, and system features.
• Silvia CBS Core banking solution for cooperatives and BPR with multi-tenancy, automatic GL updates, integrated mobile apps, group lending functionality, and ISO8583 interface for ATM and EDC.
• Validator EFT testing and validation tool that accelerates test result validation and functions in Agile DevOps Continuous Integration framework with Jenkins and NSGit integration.
• Simic Simulator tool for certification testing supporting EMV, magstripe, PIN and non-PIN transactions on ATM, POS and ECOM with regression and stress test suites.
• PAYSIM Multi-user EFT testing tool simulating ATMs, POS devices, and ISO interchanges including Visa, MasterCard, American Express, Interac, UnionPay, JCB, MEPS for end-to-end transaction testing with regression and stress/capacity testing capabilities.
• Robotic Testing Automation Automated payment testing solution replicating real-world customer interactions for end-to-end validation of payment terminals, POS systems, and receipts supporting physical cards, simulators, and chip/NFC transactions.
• TMK Terminal Master Key Lifecycle Management solution for end-to-end TMK generation, distribution, rotation, and maintenance with HSM integration and role-based access with LDAP authentication.
• Prognosis Payment environment management tool for monitoring payment systems and infrastructure health with centralized monitoring and ticketing.
• SniFra Automated web intelligence solution that captures, structures, and tracks website data in real time with version tracking, compliance monitoring, and scalable data handling.
• CAMS+ Centralized alarm monitoring system handling AI and sensor-based alerts with ticket lifecycle management, infrastructure monitoring, proactive analytics, and business reporting.
• Rhythm ATM monitoring and management tool with centralized monitoring, ticketing module, disaster recovery system, SMS/Email alerts, and heat maps for discrepancy analysis.
• Bill Payments (BBPS) India-specific integrated bill payment system offering interoperable and accessible services through Bharat Bill Payment System (BBPS) with multiple payment modes and instant confirmation.
• Unified Payments (UPI) Real-time payment system enabling instant fund transfer between multiple bank accounts with QR-based transaction processing, virtual ID security, and one-click two-factor authentication.
• CloudPe Hosted subscription platform providing Concerto's software solutions as a service on a subscription basis, including hosted payment gateway (Vegaah) and reconciliation (Samah) solutions.

Quantifiable outcome

• 30% growth rate year-over-year
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration29 records

AI capability16 records

Feature13 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• ACI WorldwideflagshipTechnology or IntegrationStrategic partner since 2008, delivering implementation, development, integration and testing for both on-premise and cloud-based environments across ACI's market-leading retail payment and fraud solutions. Concerto brings deep implementation and payments domain experience covering complex payment environments.
• Change FinancialcoreTechnology or IntegrationPartner since 2011. Change offers fintech solutions and blockchain investment services to corporations. Preferred technology partnership for innovative financial technology solutions.
• Hewlett Packard Enterprise (HPE)coreTechnology or IntegrationTechnology partner for Payment solutions since 2013. HPE technology partnership enabling enterprise payment infrastructure deployment.
• ComfortecoreTechnology or IntegrationPartner since 2017. Comforte is synonymous with Data Security and Cloud native tokenization, providing software solutions to protect and manage data. Products include SafePoint, SecurDPS, SecurLib, and SecurTape.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ACI Worldwide: ACI Worldwide is the strategic technology partner whose BASE24 EPS, POSTILION, and PRM fraud products Concerto implements and integrates. ACI is also a competitor in the broader real-time payment processing and fraud management market where Concerto sells its own COMBAT and Vegaah products. The deep product overlap makes ACI the single most comparable peer.
• Worldline: Worldline is a European-headquartered payment processor and merchant acquirer offering end-to-end payment services including processing, acquiring, and digital banking. Worldline competes with Concerto's payment engine and gateway offerings in the bank and processor segment, and operates at similar scale in terms of enterprise payment infrastructure deployments.
• M2P Fintech: M2P Fintech is an Indian payment infrastructure platform offering card management, payment gateways, lending APIs, and core banking APIs to banks and fintechs. It directly competes with Concerto's Ultimus Card, MARS, Vegaah, and Silvia CBS products in the Indian market, and represents a cloud-native, well-funded alternative to Concerto's switch-based architecture.
• Razorpay: Razorpay is India's leading online payment aggregator offering payment gateway, payment links, subscriptions, and adjacent fintech products to merchants and businesses. It directly competes with Concerto's Vegaah payment gateway for merchant payment processing share, though Razorpay focuses on SMBs while Concerto targets larger enterprises.
• PayU India: PayU India is a leading payment aggregator and gateway serving merchants and enterprises with online payment processing, payouts, and lending products. Like Razorpay, PayU competes with Vegaah for Indian merchant payment volume and offers adjacent fraud and reconciliation tools that overlap with Samah and COMBAT.
• Cashfree Payments: Cashfree Payments is an Indian payment aggregator and gateway offering payment collection, payouts, and verification APIs. It is a direct competitor to Concerto's Vegaah in the Indian online payment aggregator market and represents the broader competitive pressure on Concerto's domestic gateway business.

Broad incumbents

• Fiserv: Fiserv is a large US-based financial technology incumbent offering a broad portfolio that includes merchant acquiring, payment processing, core banking, and card management. Its First Data merchant services and DNA core banking platform overlap with several Concerto product categories, and it competes for large bank and processor RFPs where Concerto also bids.
• NCR Atleos: NCR Atleos is the ATM and self-service banking spin-off from NCR Corporation, operating a global ATM network and providing payment processing infrastructure. It competes with Concerto's BASE24 EPS and POSTILION payment switch offerings, and overlaps in ATM monitoring (Rhythm) and payment processing for financial institutions.

Regional players

• Pine Labs: Pine Labs is a Southeast Asian and Indian merchant commerce platform offering point-of-sale, payment gateway, and lending products. It competes with Concerto's MARS merchant management system and Vegaah payment gateway, primarily in the Indian merchant and retail banking segment.

Emerging players

• Decentro: Decentro is an Indian fintech API infrastructure startup offering payments, KYC, and banking APIs to fintechs and enterprises. It represents a cloud-native, API-first alternative to Concerto's switch and processor offerings, and is gaining traction with newer fintechs and digital banks that may bypass traditional payment switch infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/SystemsConcerto
• Facebookfacebook.com/Concerto-Software-Systems-Pvt-Ltd-1625712007747609

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Concerto Software & Systems