What Pi does

Pi is an AI-driven fraud detection and risk management platform operated by One97 USA Inc., a subsidiary of Indian fintech major One97 Communications Ltd. (Paytm). The platform originated in 2017 as an internal Paytm fraud prevention tool codenamed 'Maquette' because no adequate external solution existed for Paytm's transaction volumes; it was productized in 2019 and is now offered to financial services companies, e-commerce platforms, and fintechs primarily in India and Japan.

The platform delivers real-time fraud detection, supervised and unsupervised machine learning models for account takeover (ATO), card/instrument takeover (ITO), merchant fraud, and anti-money laundering (AML), plus a low-code drag-and-drop risk flow builder, pre-built industry templates, integrated case management, and credit underwriting orchestration. Technical performance metrics disclosed include 11B+ rules evaluated daily, 200M+ transactions screened daily, 15M+ daily logins processed at 15ms latency, 99.9% uptime, and reported outcomes of 50% ATO reduction, 92% ITO mitigation, and 80% high-risk merchant detection at operational costs below $25–$15 per day respectively.

Pi operates as a B2B enterprise SaaS with quote-based pricing tied to transaction volume and feature scope, distributed via direct enterprise sales. Named customers are Paytm, PayPay (Japan), and Payment Gateway by Paytm — all entities within the Paytm corporate family — indicating the platform's commercial base remains concentrated in its parent ecosystem despite claims of broader financial services partnerships. The company is headquartered at 1 University Ave., Toronto, Canada, incorporated in Delaware, and operates as a private subsidiary with no external venture funding disclosed.

Name

Pi

Legal name

One97 USA Inc.

Website

https://pi.paytm.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Pi is an AI-driven fraud detection and risk management platform, spun out of Paytm, that delivers real-time transaction monitoring, ATO/ITO protection, AML compliance, and credit underwriting to financial services companies, fintechs, and e-commerce platforms in India and Japan.

Ownership category

akta.pro rank

Product category

Fraud Detection and Risk Management Software

akta.pro primary industry

AML/CFT & Financial Crime Compliance (FSAFAOAD)

akta.pro secondary industries

AML/CTF Transaction Monitoring & Case Management (FSAGAFAC), Customer Identity (KYC/CDD/EDD) & Onboarding (FSAMAMAA)

Keywords

• Fraud detection platform
• Risk management software
• Payment fraud prevention
• AML compliance solutions
• Credit underwriting platform

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Fraud Detection & Risk Management Platform: SaaS-based fraud prevention platform providing real-time fraud detection, ML-driven protection, credit underwriting, and AML compliance services to financial services companies, e-commerce platforms, and fintechs. Revenue is generated through platform licensing and subscription fees based on transaction volume.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Pi by Paytm is an AI-driven fraud and risk management (FRM) platform that delivers real-time fraud detection, ML-driven account takeover (ATO) and card/instrument takeover (CTO) protection, credit underwriting orchestration, case management, and anti-money laundering (AML) compliance in a single integrated system. It serves financial services companies, fintechs, payment gateways, and e-commerce platforms, processing over 200 million transactions and evaluating 11 billion+ rules daily with 99.9% uptime.

Product overview

Pi by Paytm is a unified AI-powered fraud and risk management (FRM) platform developed by Paytm. The platform originated as an internal solution ('Maquette') built in 2017 when Paytm couldn't find adequate fraud prevention tools, and was later productized to serve external clients including PayPay in Japan. It operates as a single integrated platform providing real-time fraud detection, ML-driven protection against account takeover (ATO) and instrument takeover (ITO), credit underwriting orchestration, merchant risk monitoring, and anti-money laundering compliance. The platform processes over 11 billion rules daily and screens 200 million+ transactions daily with 99.9% uptime. Key features include a low-code risk flow builder with drag-and-drop interface, prebuilt industry templates for financial services and e-Commerce, and both supervised and unsupervised machine learning models for known and emerging fraud pattern detection.

Differentiator

Problem solved

Functional benefit

Products and services

• Pi by Paytm All-in-one AI-driven fraud and risk management platform delivering real-time fraud detection, ML-driven ATO and CTO protection, credit underwriting, case management, AML compliance, and a low-code risk flow builder for financial services, fintechs, payment gateways, and e-commerce platforms.

Quantifiable outcome

• 50% reduction in ATO incidents and customer rejections with 15ms latency while safeguarding 15 million daily logins
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability10 records

Feature10 records

Partnerships

Three partnerships are on record, tiered core.

• PayPaycoreTechnology or Integration · 1 January 2019PayPay, Japan's leading fintech unicorn and digital payment platform, partnered with Pi for fraud prevention. Pi's internal fraud platform (Maquette) became the primary fraud solution for PayPay, screening over 8.5 billion transactions. Pi processes massive scale fraud detection for PayPay's operations in Japan, with the partnership acknowledged by Japan's FSA.
• PaytmcoreTechnology or IntegrationPaytm, one of the largest fintech companies globally, uses Pi as its primary fraud and risk management platform. The relationship is foundational—Pi was originally built as an internal Paytm solution (codenamed 'Maquette') in 2017 to address Paytm's own fraud prevention needs before being productized for external customers.
• Payment Gateway by PaytmcoreTechnology or IntegrationPi provides real-time transaction risk management with zero latency for Payment Gateway by Paytm, enabling seamless fraud protection for high-volume payment processing operations.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Alloy: Identity and fraud decisioning platform focused on KYC/KYB and onboarding for banks and fintechs. Adjacent to Pi's risk orchestration use case, particularly around credit underwriting and customer onboarding flows.
• Sardine: Fraud and AML platform purpose-built for fintechs and digital banks. Sardine overlaps with Pi on real-time fraud detection and AML compliance but is earlier-stage and more focused on the fintech segment.

Direct peers

• Sift: AI-driven digital trust and fraud detection platform serving global e-commerce and fintech enterprises. Sift is a directly comparable alternative to Pi for account takeover, payment fraud, and content abuse prevention at scale.
• Feedzai: Enterprise financial crime platform offering real-time fraud detection and AML for banks and payment providers. Feedzai competes directly with Pi in transaction-level risk scoring and AML transaction monitoring.
• DataVisor: AI-based fraud and financial crime detection platform using unsupervised ML at scale. Closely comparable to Pi's anomaly detection capabilities for high-volume payment and digital banking customers.
• Featurespace: Provider of adaptive behavioral analytics for fraud and risk management with a strong payments and financial services footprint. Highly comparable to Pi's behavioral analytics approach for ATO and ITO detection.
• Signifyd: E-commerce fraud prevention platform using ML to eliminate chargebacks. Directly comparable to Pi's merchant fraud and payment fraud capabilities for high-volume digital commerce customers.
• Riskified: Publicly traded e-commerce fraud management and chargeback guarantee provider. Competes with Pi in merchant risk and payment fraud for enterprise online retailers.

Broad incumbents

• NICE Actimize: Enterprise financial crime, AML, and fraud prevention suite used by tier-1 banks globally. A broader incumbent whose AML monitoring and case management overlap meaningfully with Pi's compliance capabilities.
• FICO: Long-standing analytics and fraud/AML platform with deep tier-1 bank penetration. FICO Falcon and its AML suite overlap with Pi's transaction fraud and credit underwriting workflows.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/paytmpi
• Facebookfacebook.com/PaytmPI
• LinkedInlinkedin.com/company/paytmpi

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Pi