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PayNet

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uuid0023geb

Namestring
PayNet
Legal namestring
Carnelian Payment Networks India Pvt Ltd
Websiteurl
paynet.co.in
Company typeenum
Private
Founded yearint
2015
Descriptiontext

PayNet, legally Carnelian Payment Networks India Pvt Ltd, is an India-based payment gateway and fintech solutions provider founded in 2015 and headquartered in Thane West, Maharashtra. The company operates a unified payment platform that combines an online payment gateway supporting domestic and international credit/debit cards, UPI, net banking across 58+ banks, eight mobile wallets, EMI, and PayLater options with a suite of physical payment devices including M-ATM (mobile cash withdrawal), M-POS (smartphone/tablet point-of-sale), Soundbox (audio transaction confirmation), and a secure QR solution for fintech enterprises. Technical delivery is centered on a REST API architecture with v1.0 and v2.0 endpoints, authentication via merchant email and secret key, payout operations via NEFT/IMPS/RTGS, and developer resources including SDKs for PHP, Java, GoLang, and Android plus official plugins for WooCommerce, Magento, PrestaShop, OpenCart, and WHMCS, supported by a publicly accessible developer portal and Postman collections.

The company monetizes primarily through per-transaction fees that vary by payment method and business vertical, with published rates ranging from 0.00% for Government UPI up to 1.90% for net banking in e-commerce, and additional charges possible for setup, monthly fees, and certain payment methods. Go-to-market combines a self-serve merchant onboarding portal for SMBs with a direct sales function for enterprise and partnership opportunities, supplemented by content marketing, SEO, and developer relations. Customers span six vertical segments — e-commerce, utilities, education, government, skilled gaming, and offline/merchant retail — with named references including Excalibur, Kenlid Enterprise, Bluth Finance, and Jadeson Global. Compliance posture includes PCI DSS handling, RBI-aligned KYC and data processing, and alignment with India's Digital Personal Data Protection Act, 2023. The firm operates with 11-50 employees and shows no disclosed institutional funding or parent company based on available data.

Short descriptiontext

PayNet (Carnelian Payment Networks India Pvt Ltd) is an India-based payment gateway and fintech solutions provider offering online payment processing, M-POS, M-ATM, Soundbox, and QR products to SMBs, enterprises, and public-sector verticals across e-commerce, utilities, education, government, and gaming.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersVasai, India
HQ citystring
Vasai
HQ countrystring
India
HQ regionstring
Asia
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
payment gateway services, online payment processing, merchant payment solutions, mobile point-of-sale, UPI payment integration
Industry5 codes
1Merchant Payment Gateways (API/Hosted Checkout)
CodeFSAMACAAPrimaryYes
2Merchant Acquiring & Card Processing (PSPs)
CodeCRAFALABPrimaryNo
3Alternative Payment Methods (APMs) & Local Rails (ACH/SEPA/UPI, etc.)
CodeCRAFALAGPrimaryNo
4Integrated Payment Processors (PSP/Acquirer)
CodeFSAMABAAPrimaryNo
5Merchant Cross-Border Collections (Pay-ins) & Local Payment Methods
CodeFSAGAKADPrimaryNo
NAICS code1 code
  • Financial Transactions Processing, Reserve, and Clearinghouse Activities522320
Product category
Payment Gateway / Payment Processing Software
Social media profiles1 record
GTM motion3 records

Each record includes

Type, Description, Source

Revenue model2 records
1Transaction Processing Fees
TypeTransaction Fee
Description

PayNet charges transaction fees as a percentage of each payment processed. Fees vary by payment method and business vertical, with rates ranging from 0.00% for Government UPI to 1.90% for net banking in e-commerce. The company also charges setup costs, transaction fees, and monthly fees based on transaction volume and payment methods supported.

paynet.co.in
2Payment Gateway Services
TypeTransaction Fee
Description

Revenue generated from providing payment gateway infrastructure, including API access, SDKs, plugins, and merchant dashboard services. The company offers both hosted checkout and API-driven integration options.

paynet.co.in
Marketing channels6 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Pricing details4 tiers
1Ecommerce transaction rates
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

Credit Card: 1.85%, Debit Card: 1.10%, Net Banking: 1.90%, UPI: 0.30%

paynet.co.in
2Utilities sector transaction rates
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

Credit Card: 1.25%, Debit Card: 0.40%

paynet.co.in
3Education sector transaction rates
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

Credit Card: 1.00%, Net Banking: 1.50%, UPI: 0.10%

paynet.co.in
4Government sector transaction rates
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

UPI: 0.00% (free for Government transactions)

paynet.co.in
GTM typeB2B
B2B
Offering typeSoftware
Software
Core offering1 text field

PayNet provides a payment gateway platform for Indian merchants that processes online transactions across cards, UPI, net banking (58+ banks), wallets, EMI and PayLater, exposed via REST APIs, SDKs and ecommerce plugins. The company also sells physical payment acceptance solutions — M-ATM (mobile cash withdrawal), M-POS (smartphone-to-POS), Soundbox (audio transaction alerts) and Secure QR — plus a Payout API for merchant disbursements via NEFT/IMPS/RTGS and UPI.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 2 values shown
  • Failed transactions credited within 5-7 business days
+1 more record
Product overview1 text field

PayNet is a payment gateway and fintech solutions provider operated by Carnelian Payment Networks India Pvt Ltd. The company offers a unified payment platform comprising: a core Payment Gateway (supporting cards, UPI, net banking, wallets, and international payments), QR Solution for fintech enterprises, M-ATM Solutions for cash withdrawal services, M-POS Solutions for mobile point-of-sale, and Soundbox Solutions for real-time audio transaction confirmations. Developer access is provided via REST APIs (v1.0 and v2.0) with SDKs for PHP, Java, GoLang, and Android, plus e-commerce plugins for PrestaShop, Magento, OpenCart, WooCommerce, and WHMCS. Payout services enable merchant disbursements through bank accounts and UPI.

Scale indicator3 records

Each record includes

Type, Value, Description, Source

Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
1Cashfree Payments
TypeDirect peer
Description

Cashfree Payments is an India-focused payment gateway and payouts provider with developer-first APIs, plugins for major e-commerce platforms, and a Payouts product that competes head-to-head with PayNet's acceptance and NEFT/IMPS/RTGS payout suite.

2PayPal
TypeBroad incumbent
Description

PayPal offers global online payment acceptance and developer APIs and serves merchants in India, comparable to PayNet's international card acceptance and cross-border ambitions as a broader incumbent.

3Stripe
TypeBroad incumbent
Description

Stripe is a global payment platform with developer-first APIs, hosted checkout, and extensive integrations — a broader incumbent benchmark for PayNet's API design and developer experience, though India is not Stripe's home market.

4BillDesk
TypeDirect peer
Description

BillDesk is an Indian online payment and bill collection gateway serving merchants, utilities, and government billers — directly comparable to PayNet's vertical-pricing strategy in utilities, education, and government.

5Instamojo
TypeDirect peer
Description

Instamojo is an India-focused SMB payment gateway and storefront provider, competing with PayNet in the small merchant and self-serve onboarding segment using developer-friendly APIs.

6Razorpay
TypeDirect peer
Description

Razorpay is India's largest payment gateway and fintech platform, offering online payment acceptance, payouts, and developer APIs directly competing with PayNet's core gateway, Payout API, and plugin ecosystem.

7CCAvenue
TypeDirect peer
Description

CCAvenue is a long-standing Indian payment gateway offering multi-method acceptance (cards, UPI, net banking, wallets) and merchant onboarding, competing directly with PayNet for Indian online merchants.

8PayU India
TypeDirect peer
Description

PayU India is a major payment gateway and merchant acquirer supporting cards, UPI, net banking, and wallets for Indian merchants, directly overlapping with PayNet's gateway and broad payment method coverage.

9PhonePe Business
TypeDirect peer
Description

PhonePe Business offers UPI-led payment acceptance, Soundbox, and merchant devices in India, overlapping with PayNet's M-POS, Soundbox, and UPI gateway offerings.

10Pine Labs
TypeBroad incumbent
Description

Pine Labs is a large Indian POS and merchant payments platform offering in-store acceptance devices and software; comparable to PayNet on the M-POS/Soundbox side of the business as a broader, better-capitalized incumbent.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers4 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment6 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile4 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
Yes

Docs URL, Description

Integration5 records

Each record includes

Title, Type, Description, Source

AI capability1 record

Each record includes

Type, Description, Source

AI maturity
App detail

Has app

Feature11 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
Compliance3 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

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

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

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

PayNet

Payment Gateway / Payment Processing Softwarepaynet.co.in

PayNet (Carnelian Payment Networks India Pvt Ltd) is an India-based payment gateway and fintech solutions provider offering online payment processing, M-POS, M-ATM, Soundbox, and QR products to SMBs, enterprises, and public-sector verticals across e-commerce, utilities, education, government, and gaming.

What PayNet does

PayNet, legally Carnelian Payment Networks India Pvt Ltd, is an India-based payment gateway and fintech solutions provider founded in 2015 and headquartered in Thane West, Maharashtra. The company operates a unified payment platform that combines an online payment gateway supporting domestic and international credit/debit cards, UPI, net banking across 58+ banks, eight mobile wallets, EMI, and PayLater options with a suite of physical payment devices including M-ATM (mobile cash withdrawal), M-POS (smartphone/tablet point-of-sale), Soundbox (audio transaction confirmation), and a secure QR solution for fintech enterprises. Technical delivery is centered on a REST API architecture with v1.0 and v2.0 endpoints, authentication via merchant email and secret key, payout operations via NEFT/IMPS/RTGS, and developer resources including SDKs for PHP, Java, GoLang, and Android plus official plugins for WooCommerce, Magento, PrestaShop, OpenCart, and WHMCS, supported by a publicly accessible developer portal and Postman collections.

The company monetizes primarily through per-transaction fees that vary by payment method and business vertical, with published rates ranging from 0.00% for Government UPI up to 1.90% for net banking in e-commerce, and additional charges possible for setup, monthly fees, and certain payment methods. Go-to-market combines a self-serve merchant onboarding portal for SMBs with a direct sales function for enterprise and partnership opportunities, supplemented by content marketing, SEO, and developer relations. Customers span six vertical segments — e-commerce, utilities, education, government, skilled gaming, and offline/merchant retail — with named references including Excalibur, Kenlid Enterprise, Bluth Finance, and Jadeson Global. Compliance posture includes PCI DSS handling, RBI-aligned KYC and data processing, and alignment with India's Digital Personal Data Protection Act, 2023. The firm operates with 11-50 employees and shows no disclosed institutional funding or parent company based on available data.

PayNet firmographics

Firmographics
Name
PayNet
Legal name
Carnelian Payment Networks India Pvt Ltd
Website
https://paynet.co.in
Company type
Private
Founded year
2015
Operating status
Operating
Headcount range
11–50 employees
Short description
PayNet (Carnelian Payment Networks India Pvt Ltd) is an India-based payment gateway and fintech solutions provider offering online payment processing, M-POS, M-ATM, Soundbox, and QR products to SMBs, enterprises, and public-sector verticals across e-commerce, utilities, education, government, and gaming.
Ownership category
akta.pro rank

PayNet industry classification

Industry
Product category
Payment Gateway / Payment Processing Software
NAICS
Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
akta.pro primary industry
Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
akta.pro secondary industries
Merchant Acquiring & Card Processing (PSPs) (CRAFALAB), Alternative Payment Methods (APMs) & Local Rails (ACH/SEPA/UPI, etc.) (CRAFALAG), Integrated Payment Processors (PSP/Acquirer) (FSAMABAA), Merchant Cross-Border Collections (Pay-ins) & Local Payment Methods (FSAGAKAD)

Keywords

  • Payment gateway services
  • Online payment processing
  • Merchant payment solutions
  • Mobile point-of-sale
  • UPI payment integration

Where PayNet is headquartered

Location

Headquarters

HQ city
Vasai
HQ country
India
HQ region
Asia

Offices1 record

Markets served

PayNet business model

Business model
GTM type
B2B
Offering type
Software
Cost components
Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

  1. Transaction Processing Fees: PayNet charges transaction fees as a percentage of each payment processed. Fees vary by payment method and business vertical, with rates ranging from 0.00% for Government UPI to 1.90% for net banking in e-commerce. The company also charges setup costs, transaction fees, and monthly fees based on transaction volume and payment methods supported.
  2. Payment Gateway Services: Revenue generated from providing payment gateway infrastructure, including API access, SDKs, plugins, and merchant dashboard services. The company offers both hosted checkout and API-driven integration options.

Pricing tiers

ModelBillingPrice
Transaction based/ take ratePay-as-you-goEcommerce transaction rates
Transaction based/ take ratePay-as-you-goUtilities sector transaction rates
Transaction based/ take ratePay-as-you-goEducation sector transaction rates
Transaction based/ take ratePay-as-you-goGovernment sector transaction rates

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

PayNet product offering

Product offering

Core offering

PayNet provides a payment gateway platform for Indian merchants that processes online transactions across cards, UPI, net banking (58+ banks), wallets, EMI and PayLater, exposed via REST APIs, SDKs and ecommerce plugins. The company also sells physical payment acceptance solutions — M-ATM (mobile cash withdrawal), M-POS (smartphone-to-POS), Soundbox (audio transaction alerts) and Secure QR — plus a Payout API for merchant disbursements via NEFT/IMPS/RTGS and UPI.

Product overview

PayNet is a payment gateway and fintech solutions provider operated by Carnelian Payment Networks India Pvt Ltd. The company offers a unified payment platform comprising: a core Payment Gateway (supporting cards, UPI, net banking, wallets, and international payments), QR Solution for fintech enterprises, M-ATM Solutions for cash withdrawal services, M-POS Solutions for mobile point-of-sale, and Soundbox Solutions for real-time audio transaction confirmations. Developer access is provided via REST APIs (v1.0 and v2.0) with SDKs for PHP, Java, GoLang, and Android, plus e-commerce plugins for PrestaShop, Magento, OpenCart, WooCommerce, and WHMCS. Payout services enable merchant disbursements through bank accounts and UPI.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

  • Failed transactions credited within 5-7 business days
  • +1 more outcomes

Companies that use PayNet

Customer profile

Named customers4 records

Segments6 records

Ideal customer profiles4 records

PayNet technology and API

Technology

Technology focussed Yes

API detail

Has API
Yes
API docs
API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability1 record

Feature11 records

PayNet partnerships and signals

Strategic signal

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

PayNet competitors and assessment

Company assessment

Direct peers

  • Cashfree Payments: Cashfree Payments is an India-focused payment gateway and payouts provider with developer-first APIs, plugins for major e-commerce platforms, and a Payouts product that competes head-to-head with PayNet's acceptance and NEFT/IMPS/RTGS payout suite.
  • BillDesk: BillDesk is an Indian online payment and bill collection gateway serving merchants, utilities, and government billers — directly comparable to PayNet's vertical-pricing strategy in utilities, education, and government.
  • Instamojo: Instamojo is an India-focused SMB payment gateway and storefront provider, competing with PayNet in the small merchant and self-serve onboarding segment using developer-friendly APIs.
  • Razorpay: Razorpay is India's largest payment gateway and fintech platform, offering online payment acceptance, payouts, and developer APIs directly competing with PayNet's core gateway, Payout API, and plugin ecosystem.
  • CCAvenue: CCAvenue is a long-standing Indian payment gateway offering multi-method acceptance (cards, UPI, net banking, wallets) and merchant onboarding, competing directly with PayNet for Indian online merchants.
  • PayU India: PayU India is a major payment gateway and merchant acquirer supporting cards, UPI, net banking, and wallets for Indian merchants, directly overlapping with PayNet's gateway and broad payment method coverage.
  • PhonePe Business: PhonePe Business offers UPI-led payment acceptance, Soundbox, and merchant devices in India, overlapping with PayNet's M-POS, Soundbox, and UPI gateway offerings.

Broad incumbents

  • PayPal: PayPal offers global online payment acceptance and developer APIs and serves merchants in India, comparable to PayNet's international card acceptance and cross-border ambitions as a broader incumbent.
  • Stripe: Stripe is a global payment platform with developer-first APIs, hosted checkout, and extensive integrations — a broader incumbent benchmark for PayNet's API design and developer experience, though India is not Stripe's home market.
  • Pine Labs: Pine Labs is a large Indian POS and merchant payments platform offering in-store acceptance devices and software; comparable to PayNet on the M-POS/Soundbox side of the business as a broader, better-capitalized incumbent.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

PayNet social profiles

Digital presence

PayNet compliance and trust

Trust signal

Compliance3 records

PayNet financial estimates

Financial estimate

Revenue estimate

Valuation estimate

PayNet leadership team

Management profile

Number of profiles

Profiles1 record

PayNet funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

PayNet M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about PayNet

What does PayNet do?

PayNet provides a payment gateway platform for Indian merchants that processes online transactions across cards, UPI, net banking (58+ banks), wallets, EMI and PayLater, exposed via REST APIs, SDKs and ecommerce plugins. The company also sells physical payment acceptance solutions — M-ATM (mobile cash withdrawal), M-POS (smartphone-to-POS), Soundbox (audio transaction alerts) and Secure QR — plus a Payout API for merchant disbursements via NEFT/IMPS/RTGS and UPI.

Is PayNet a public or private company?

PayNet is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was PayNet founded?

PayNet was founded in 2015. It employs 11 to 50 people.

Where is PayNet based?

PayNet is headquartered in Vasai, India, in the Asia region.

How does PayNet make money?

Two revenue lines are on record. Transaction Processing Fees are the primary driver. The others are payment Gateway Services.

Who are PayNet's main competitors?

Direct peers on record are Cashfree Payments, BillDesk, Instamojo, Razorpay, CCAvenue, PayU India and PhonePe Business. Broad incumbents are PayPal, Stripe and Pine Labs.

Does PayNet have an API?

Yes. PayNet offers a RESTful API for payment processing. The API provides endpoints for: ValidateSecretKey (merchant authentication), CreatePayPage (hosted payment page generation), VerifyPayment (transaction status verification), RefundTransactions (full and partial refunds), TransactionReports (transaction history), CreateOrder (seamless/server-to-server orders), Payout GetBalance, MakePayout (supports NEFT/IMPS/RTGS), and Payout StatusCheck. The API uses merchant_email and secret_key authentication. Two API versions are available: v1.0 (production at https://merchants.paynet.co.in) and v2.0 (production at https://apis.paynet.co.in). No explicit sandbox/testing environment is offered; demo accounts are available for testing. Prebuilt Postman documentation and JSON collections are accessible. Developer documentation is at devportal.paynet.co.in.

What industry is PayNet in?

PayNet's product category is Payment Gateway / Payment Processing Software. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of CRAFALAB, Merchant Acquiring & Card Processing (PSPs). Its NAICS code is 522320.

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