Acemoney
Acemoney
- Company typePrivate
- Founded2020
- HeadquartersCochin, India
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Acemoney does
Acemoney, operated by Aceware FinTech Services Pvt. Ltd. and headquartered in Kochi, Kerala, is a fintech infrastructure platform that enables digital banking and payment services for India's rural and semi-urban population. Founded in October 2020, the company runs a Business Correspondent (BC) network of 35,000+ agents equipped with Micro ATM and AEPS (Aadhaar Enabled Payment System) devices that deliver cash withdrawal, balance inquiry, domestic money transfer (DMT), BBPS bill payments, mobile recharges, micro insurance, and paperless account opening services. The platform also serves merchants through POS/mPOS terminals and UPI QR with T+1 settlement, and offers white-label infrastructure plus developer-first Fintech APIs to banks, NBFCs, government agencies, and fintech companies for deployment under their own brands.
Acemoney firmographics
Firmographics- Name
- Acemoney
- Legal name
- Aceware FinTech Services Pvt. Ltd
- Website
- https://acemoney.in
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Acemoney
- Ownership category
- akta.pro rank
Acemoney industry classification
Industry- Product category
- Fintech Infrastructure
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ)
- akta.pro secondary industries
- Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Digital Account Opening & Onboarding (eKYC, eSignature, Origination) (FSAGAAAB)
Keywords
Where Acemoney is headquartered
LocationHeadquarters
- HQ city
- Cochin
- HQ country
- India
- HQ region
- Asia
Offices4 records
Markets served
Acemoney business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Transaction Fees - Wallet Services: Acemoney charges 1% (inclusive of GST) service fee on wallet enablement transactions. UPI services are offered at 0% fee. The platform settles merchant payments on T+1/T+3 basis after deducting service fees.
- BC Agent Network Commissions: Business Correspondent agents earn commissions on various transactions including AEPS withdrawals, DMT transfers, BBPS bill payments, and mobile recharges. The company acts as an intermediary between agents and banking networks, taking a margin on transaction volumes.
- White-Label Platform Fees: Banks and NBFCs pay for white-label platform deployment and API services, enabling them to offer digital banking services under their own brand. Revenue derived from licensing and service fees.
- Merchant Payment Processing: Merchants pay service fees for POS terminal deployment, payment gateway integration, and transaction processing. Settlement occurs on T+1 basis with competitive success rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | UPI Payment Services |
| Transaction based/ take rate | Pay-as-you-go | Wallet Enablement Services |
| Usage-based | Pay-as-you-go | BC Agent Earnings Simulator |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
Acemoney product offering
Product offeringCore offering
Acemoney operates a fintech infrastructure platform enabling Business Correspondent (BC) banking services, merchant digital payments, and white-label financial solutions. The platform provides Micro ATM, AEPS, UPI, POS, BBPS, DMT, and mobile recharge services through a 35,000+ agent network across 28 Indian states, serving banks, NBFCs, merchants, government entities, and fintech developers via APIs.
Product overview
Acemoney (operated by Aceware FinTech Services Pvt. Ltd. and affiliated with Radiant Cash Management Services Limited) is an AI-powered fintech platform offering a comprehensive suite of financial products organized around three core pillars: BC/Agent services (Micro ATM, AEPS, DMT, BBPS, Mobile Recharges, Micro Insurance, Account Opening), Merchant Payments (POS/mPOS, UPI QR & Payment Gateway), and Institutional/Banking Infrastructure (Fintech APIs, White Label Solutions, Neo Banking). The platform also extends into prepaid cards, offline UPI, and wearable ATM devices. At its core, the platform is a orchestration layer connecting Business Correspondents, merchants, banks/NBFCs, and government entities through a shared infrastructure of APIs, biometric authentication (Aadhaar), and NPCI payment rails (AEPS, UPI, BBPS). The Business App for Agents serves as the primary interface for the agent network, aggregating all agent-facing services into a single mobile application.
Differentiator
Problem solved
Functional benefit
Products and services
- Micro ATM Handheld mini-bank device enabling cash withdrawals using any debit card, balance inquiry, and mini statement. Empowers BC agents to transform shops into digital banking points with portable, rugged hardware.
- AEPS (Aadhaar Enabled Payment System) Online interoperable financial inclusion payment model at Micro-ATMs through Business Correspondents using Aadhaar biometric authentication. Enables cash withdrawal, balance enquiry, mini statement, and Aadhaar-to-Aadhaar fund transfer without a debit card or PIN.
- POS / mPOS Point of Sale and mobile POS terminals for merchants to accept Credit Card, Debit Card, and Prepaid Card payments with contactless NFC, GPRS/Wi-Fi/Bluetooth connectivity, real-time reporting, and next-day settlement.
- UPI QR & Payment Gateway Unified Payments Interface solution generating dynamic and static QR codes for accepting payments from any UPI-enabled app (Google Pay, PhonePe, Paytm, BHIM), plus a Payment Gateway API for website and mobile app checkout with instant settlement.
- DMT (Domestic Money Transfer) Domestic Money Transfer service enabling migrant and unbanked individuals to transfer money instantly to any bank account in India using cash at a local Acemoney agent. Operates 24/7, 365 days a year with high limits for verified customers.
- Bill Payments (BBPS) Bharat Bill Payment System service enabling customers to pay electricity, water, gas, broadband, landline, municipal taxes, insurance premiums, and loan repayments through Acemoney agents under NPCI guidelines with instant confirmation receipts.
- Mobile & DTH Recharges Prepaid mobile recharge service for all major telecom operators (Jio, Airtel, Vi, BSNL) and DTH connections (Tata Sky, Dish TV, Sun Direct, Videocon) with 99.9% success rate and instant commission credit to agents.
- Micro Insurance Affordable micro-insurance products sold through the agent network covering health, personal accident, hospital cash, and vector-borne diseases, with paperless instant policy issuance and claim assistance.
- Account Opening Instant savings account opening service through biometric e-KYC partnership with leading banks. Fully paperless process takes minutes, generating immediate account numbers and enabling Direct Benefit Transfer (DBT) access for unbanked individuals.
- White Label ATM / Solutions White-label fintech solution enabling banks and NBFCs to launch their own ATM and BC agent networks under their own brand. Provides technology stack, API integrations, hardware support, customizable web portal, mobile app, admin dashboard, backend compliance, and server maintenance.
- Business App for Agents (Acemoney Merchant App) All-in-one mobile application for Acemoney agents combining AEPS, DMT, Recharges, Bill Payments, and wallet management in a single interface with secure biometric login, real-time wallet top-up, transaction history, and instant support. Available on Android and iOS.
- Neo Banking Services Digital-first banking services without physical branches, integrated with the broader Acemoney platform for financial inclusion.
- Prepaid Card Prepaid card issuance product enabling card-based financial transactions for customers who may not have access to traditional banking cards.
- Offline UPI Offline Unified Payments Interface capability enabling UPI transactions in low or no-connectivity environments.
- Wearable ATM Wearable ATM device product extending financial services accessibility through wearable technology form factors.
- Fintech APIs Developer-first API suite for building modern financial applications. Enables client applications to send secured JSON requests for transaction processing, with API key validation, audit trail logging, and structured JSON responses. Supports AEPS, DMT, BBPS, and merchant payment processing with 99.99% uptime SLA.
Quantifiable outcome
- 35,000+ active agents serving 5M+ end users across 28 states
- +3 more outcomes
Companies that use Acemoney
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles4 records
Acemoney technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
AI capability3 records
Feature6 records
Acemoney partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- ESAF Small Finance BankcoreESAF Small Finance Bank and Acemoney partnered to launch UPI ATM and agency banking services in December 2023. The partnership aims to expand digital banking access to underserved communities through Acemoney's BC agent network, enabling customers to withdraw cash and access banking services via UPI and biometric authentication.
- PM SVANidhi (Central Government)coreAcemoney became part of the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) project in association with the central government in 2021. This partnership enabled financial inclusion for street vendors by providing digital payment and banking services.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Acemoney competitors and assessment
Company assessmentDirect peers
- Fino Payments Bank: Listed Indian payments bank that operates one of the largest BC-led fintech distribution networks in the country. Closely comparable to Acemoney in BC agent model, AEPS/UPI/BBPS product suite, and white-label infrastructure for financial inclusion.
- PayNearby: BC-led fintech enabling neighbourhood retail outlets to deliver digital banking, payments and financial services. Overlaps with Acemoney in BC agent onboarding, AEPS, BBPS, DMT and merchant payment acceptance.
- Spice Money: BC-focussed fintech offering AePS, mATM, money transfer, bill payments and PAN services through a large rural agent network. Closely comparable to Acemoney's BC and merchant-facing product mix.
- Eko: Fintech infrastructure platform offering AEPS, DMT, BBPS, micro-ATM and digital banking services through a BC-led agent network. Directly comparable to Acemoney in product offering and target customer segments.
- Mswipe: Merchant payment acceptance and POS/mPOS provider serving SMB merchants across India. Directly comparable to Acemoney's POS/mPOS, payment gateway and merchant acquiring business.
Broad incumbents
- Paytm (One97 Communications): Dominant Indian digital payments and financial services incumbent with deep UPI QR, POS, payment gateway and wallet coverage. Overlaps with Acemoney in merchant payments, payment gateway and PPI wallet, but operates at vastly larger scale and breadth.
- PhonePe: Leading UPI-focused payments platform with significant merchant QR and payment gateway presence. Comparable to Acemoney on UPI QR and payment acceptance, but serves a much larger consumer and merchant base with proprietary payment gateway infrastructure.
- BharatPe: Merchant-focused fintech offering UPI QR, payment acceptance and business lending. Comparable to Acemoney on merchant payment acceptance but with a broader consumer-facing merchant lending and PoS franchise.
- Pine Labs: Enterprise POS and merchant payments platform with broad card acceptance and fintech infrastructure offerings. Overlaps with Acemoney on POS, payment gateway and white-label infrastructure for large institutional customers.
- Razorpay: Leading Indian payment gateway and fintech infrastructure provider serving online merchants and digital businesses. Comparable to Acemoney on payment gateway and fintech API offering, but primarily serves the online rather than BC/agent channel.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Acemoney social profiles
Digital presenceAcemoney compliance and trust
Trust signalCompliance2 records
Acemoney financial estimates
Financial estimateRevenue estimate
Valuation estimate
Acemoney leadership team
Management profileNumber of profiles
Profiles9 records
Acemoney funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Acemoney M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Acemoney
What does Acemoney do?
Acemoney operates a fintech infrastructure platform enabling Business Correspondent (BC) banking services, merchant digital payments, and white-label financial solutions. The platform provides Micro ATM, AEPS, UPI, POS, BBPS, DMT, and mobile recharge services through a 35,000+ agent network across 28 Indian states, serving banks, NBFCs, merchants, government entities, and fintech developers via APIs.
Is Acemoney a public or private company?
Acemoney is a private company. It is classified as corporate owned and is currently operating.
When was Acemoney founded?
Acemoney was founded in 2020. It employs 101 to 250 people.
Where is Acemoney based?
Acemoney is headquartered in Cochin, India, in the Asia region.
How does Acemoney make money?
Four revenue lines are on record. Transaction Fees - Wallet Services are the primary driver. The others are BC Agent Network Commissions, white-Label Platform Fees and merchant Payment Processing.
Who are Acemoney's main competitors?
Direct peers on record are Fino Payments Bank, PayNearby, Spice Money, Eko and Mswipe. Broad incumbents are Paytm (One97 Communications), PhonePe, BharatPe, Pine Labs and Razorpay.
Does Acemoney have an API?
Yes. Developer-first APIs for building modern financial apps. The Fintech APIs enable client applications to send secured JSON requests to API endpoints. The gateway validates API key, executes transaction, and logs audit trail. A structured JSON response is returned with status and transaction reference. Available to financial institutions for white-label infrastructure deployment or API service calls. The platform supports Core banking integration via secure encrypted channels. Settlement obligations are handled via T+1/T+3 day cycles. APIs cover services including AEPS, DMT, BBPS, and merchant payment processing.
What industry is Acemoney in?
Acemoney's product category is Fintech Infrastructure. Its primary akta.pro industry code is FSAGABAJ, Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails), with a secondary code of FSAGALAE, Embedded Deposit Accounts & Digital Wallet Infrastructure. Its NAICS code is 522 and its SIC code is 6199.