MargPay
MargPay is a B2B digital payment platform from Marg Fintech Pvt. Ltd. (a Marg ERP Ltd. subsidiary) offering bill-by-bill QR/SMS payments, automatic reconciliation, same-day settlement, and NBFC-distributed business loans to Indian SMEs and MSMEs in pharma, FMCG, and retail distribution.
- Company typePrivate
- Founded2000
- HeadquartersDelphi, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What MargPay does
MargPay is a B2B digital payment and collection platform operated by Marg Fintech Pvt. Ltd., a wholly-owned subsidiary of Marg ERP Ltd., headquartered in Delhi, India. Purpose-built for Indian small and medium businesses — particularly distributors and retailers in pharma and FMCG supply chains — the platform provides bill-by-bill dynamic QR codes, SMS payment links, automatic reconciliation, and same-day settlement across UPI, net banking, debit/credit cards, wallets, and corporate cards. MargPay is operationally inseparable from its parent Marg ERP: merchants must hold a Marg ERP license, upload outstandings directly from the ERP, and receive reconciled transactions back into the same workflow. The platform's underlying payment rails are provided by Cashfree and PayU, with MargPay acting as the B2B reconciliation and merchant-experience layer on top.
The core product portfolio comprises the MargPay Payment Gateway (web), the MargPay Android app, and the Marg eRetail sub-merchant app (Android/iOS). MargPay monetizes primarily through transaction fees structured by payment mode and B2B/B2C tier (UPI 0.1–0.2%, netbanking ₹12–39, debit cards 0.38–0.84%, wallets 1.54–1.70%, credit cards 1.89–2.00%, corporate cards 2.92–3.50%), supplemented by a one-time ₹5,000 ERP integration license fee. The company has extended into embedded lending through NBFC distribution partnerships with Indifi, Flexi, and ICICI Bank, offering unsecured business loans up to ₹50 lakh and earning 2% processing commissions plus interest spreads. Distribution leverages the parent's 8,500+ sales professionals across 850+ centers, alongside self-serve online onboarding, mobile app stores, and promotional cashback partnerships.
At scale, the broader Marg ERP group claims 1 Million+ businesses served, 20 Billion+ invoices processed annually, $100 Billion in annual transaction flow, and 50% of pharma and FMCG trade running on its software — though these figures reflect the parent ecosystem rather than MargPay-attributable metrics. MargPay is PCI DSS Version 3.2.1 certified and KYC-compliant under RBI regulations. The company is privately held by the Marg ERP founders (Thakur Anup Singh as CMD, with co-founders Mahender Singh and Sudhir Singh), with no external institutional funding disclosed.
MargPay firmographics
Firmographics- Name
- MargPay
- Legal name
- Marg Fintech Pvt. Ltd.
- Website
- https://margpay.com
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- MargPay is a B2B digital payment platform from Marg Fintech Pvt. Ltd. (a Marg ERP Ltd. subsidiary) offering bill-by-bill QR/SMS payments, automatic reconciliation, same-day settlement, and NBFC-distributed business loans to Indian SMEs and MSMEs in pharma, FMCG, and retail distribution.
- Ownership category
- akta.pro rank
MargPay industry classification
Industry- Product category
- Payment Processing / B2B Digital Payments
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Activities Related to Credit Intermediation (5223)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- A2A Reconciliation, Reporting & Treasury Ops (FSAMAFAJ), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)
Keywords
Where MargPay is headquartered
LocationHeadquarters
- HQ city
- Delphi
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
MargPay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Payment Transaction Fees: MargPay charges transaction fees based on payment mode - UPI (0.1-0.2%), netbanking (₹12-39 per transaction), debit cards (0.38-0.84%), wallets (1.54-1.70%), credit cards (1.89-2.00%), and corporate/international cards (2.92-3.50%). B2B rates are slightly higher than B2C rates.
- Marg ERP Integration Fee: MargPay integration with Marg ERP software charges ₹5000/- for setup.
- Business Loans Commission: Partnership with NBFCs (Indifi, Flexi) and ICICI Bank to offer business loans to merchants. Revenue generated through processing fees (2%) and interest commissions from loan disbursements.
- Cashback Offers & Promotions: Promotional cashback offers funded through merchant transactions - distributors get 2% cashback up to ₹6000/month, with ₹20 per transaction above ₹5000.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | UPI - Unified Payments Interface |
| Transaction based/ take rate | Pay-as-you-go | Netbanking |
| Transaction based/ take rate | Pay-as-you-go | Debit Card |
| Transaction based/ take rate | Pay-as-you-go | Wallets |
| Transaction based/ take rate | Pay-as-you-go | Domestic Credit Card |
| Transaction based/ take rate | Pay-as-you-go | Corporate/Business/International Cards |
| One time/ perpetual license | One time/ perpetual license | Marg ERP Integration |
| Transaction based/ take rate | Pay-as-you-go | Distributor Cashback Program |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
MargPay product offering
Product offeringCore offering
MargPay provides a B2B2C digital payment and collection platform that enables Indian businesses to accept payments through UPI, net banking, debit/credit cards, and wallets via dynamic QR codes and SMS payment links generated per invoice. Payments are automatically reconciled bill-by-bill into the merchant's bank account with same-day settlement, and the platform is tightly integrated with Marg ERP software for uploading outstanding invoices. It also distributes unsecured business loans for SMEs through NBFC partnerships with ICICI Bank, Indifi, and Flexi.
Product overview
MargPay is a unified digital payments and collections platform offered by Marg Fintech Pvt. Ltd. (a subsidiary of Marg ERP Ltd.). The core offering is the MargPay Payment Gateway, which is India's first B2B2C payment platform enabling bill-by-bill reconciliation for businesses. This integrates with the MargPay App (Android mobile app) for on-the-go payment management. The Sub Merchant offering provides a separate eRetail App (Android/iOS) for retailers to pay suppliers. Through NBFC partnerships with ICICI Bank, Indifi, and Flexi, the platform extends to unsecured business loans up to ₹50 lakh and bill payment loans for retailers. All products are designed for SMEs and MSMEs in the Indian market, with primary focus on the pharma and FMCG distribution sector.
Differentiator
Problem solved
Functional benefit
Products and services
- MargPay Payment Gateway India's first B2B2C digital payment gateway that enables businesses to accept, process, reconcile, and disburse payments via dynamic QR codes and SMS payment links per invoice, accepting UPI, netbanking, debit/credit cards, and wallets with automatic bill-by-bill reconciliation into bank accounts.
- MargPay Mobile App Android mobile application for digital payments and collections, enabling merchants to manage B2B transactions, view payment reports, track outstandings, and accept payments on-the-go via the MargPay platform.
- MargPay Sub Merchant (eRetail App) Mobile application (Android and iOS) for sub-merchants and retailers to make digital payments to suppliers, add suppliers, view outstanding balances, and process payments to distributors via dynamic QR codes or SMS payment links.
- Business Loan (NBFC Partnered) Unsecured business loans distributed through MargPay in partnership with ICICI Bank, Indifi, and Flexi NBFCs, offering loans up to ₹50 lakh with tenure up to 36 months for SMEs and MSMEs needing working capital, inventory financing, and business expansion.
- Bill Payment Loan for Retailers Real-time working capital facility up to ₹50 lakh for retailers, offered via MargPay's NBFC partnerships, with low interest rates charged only on the utilized amount to support inventory purchase and business operations.
Quantifiable outcome
- 20 Billion+ invoices processed per year
- +4 more outcomes
Companies that use MargPay
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
MargPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
MargPay partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Marg ERP Ltd.coreMarg ERP Ltd. is the parent company and founder of MargPay. MargPay is integrated with Marg ERP software, allowing merchants to upload outstanding invoices directly from the ERP system for bill-by-bill payment reconciliation. The partnership leverages Marg ERP's 1 Million+ customer base and 20+ years of distribution network.
- CashfreecoreCashfree is the payment gateway technology provider powering MargPay's transaction processing. Mentioned as 'Powered by: PayU & Cashfree' on the website. Provides the underlying payment infrastructure for UPI, netbanking, cards, and wallet transactions.
- PayUcorePayU is a payment gateway technology provider powering MargPay's transaction processing alongside Cashfree. Both PayU and Cashfree are integrated into the MargPay platform for payment collection and disbursement.
- Marg eRetail AppcoreMargPay is seamlessly integrated with Marg eRetail Order & Payment App for B2B transactions. The app allows retailers to add suppliers, place online orders, and make payments directly through MargPay. Available on Android and iOS.
- Paytm MallminorPaytm Mall partnership for promotional cashback offers. Users who pay ₹10,000+ via MargPay receive ₹250 discount vouchers for Paytm Mall with 10% cashback up to ₹250.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
MargPay competitors and assessment
Company assessmentDirect peers
- Cashfree Payments: Indian payment gateway offering merchant payment collection, payouts, and automated reconciliation to businesses. Directly comparable to MargPay on payment acceptance and reconciliation, and is also one of MargPay's underlying technology partners.
- Razorpay: India's largest online payment gateway serving SMBs and enterprises with payment acceptance, automated reconciliation, and embedded finance. Most directly comparable competitor to MargPay for B2B merchant payment acceptance, with broader product breadth and substantially larger capital base.
- Open Financial Technologies (Open): India-based B2B payments and neo-banking platform serving SMBs with payment acceptance, automated reconciliation, and embedded credit. Directly comparable on B2B reconciliation-led payments and embedded lending.
- Mswipe: Indian SMB-focused merchant payments and POS provider serving small retailers and distributors. Comparable in targeting Indian SMBs and distributors with multi-mode digital acceptance and working capital offerings.
- PayU India: Major Indian payment gateway serving online merchants with multi-mode payment acceptance and disbursements. Comparable to MargPay on payment acceptance breadth, and is also one of MargPay's underlying technology partners.
- BharatPe: Indian merchant-focused fintech offering QR-based payment acceptance, lending, and business banking to SMBs. Comparable in targeting Indian SMBs for digital collections with an integrated lending flywheel — a similar strategy to MargPay's payments-plus-NBFC-loans model.
Broad incumbents
- PhonePe Business: Merchant payments arm of PhonePe offering QR and digital payment acceptance to Indian businesses at massive scale. Comparable in payment acceptance for Indian merchants, though broader in scope (consumer and merchant) and far larger in distribution.
- Paytm for Business: Merchant services arm of Paytm offering QR-based payment acceptance, payment gateway, and business loans to Indian SMBs. Comparable in targeting SMBs with payments plus embedded lending, with broader consumer reach than MargPay.
- Pine Labs: Large Indian merchant payments and POS platform serving enterprise retailers and brands with broader in-store and online payment solutions. Comparable on B2B/merchant payment acceptance but operates at significantly larger scale and broader footprint than MargPay.
Others
- Tally Solutions: Dominant Indian SMB accounting and ERP software vendor, the principal on-prem ERP competitor to Marg ERP. Relevant as the alternative ERP platform that could attract merchants away from the Marg ERP ecosystem that powers MargPay.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
MargPay social profiles
Digital presenceMargPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
MargPay leadership team
Management profileNumber of profiles
Profiles3 records
MargPay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MargPay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MargPay
What does MargPay do?
MargPay provides a B2B2C digital payment and collection platform that enables Indian businesses to accept payments through UPI, net banking, debit/credit cards, and wallets via dynamic QR codes and SMS payment links generated per invoice. Payments are automatically reconciled bill-by-bill into the merchant's bank account with same-day settlement, and the platform is tightly integrated with Marg ERP software for uploading outstanding invoices. It also distributes unsecured business loans for SMEs through NBFC partnerships with ICICI Bank, Indifi, and Flexi.
Is MargPay a public or private company?
MargPay is a private company. It is classified as corporate owned and is currently operating.
When was MargPay founded?
MargPay was founded in 2000. It employs 101 to 250 people.
Where is MargPay based?
MargPay is headquartered in Delphi, United States, in the North America region.
How does MargPay make money?
Four revenue lines are on record. Payment Transaction Fees are the primary driver. The others are marg ERP Integration Fee, business Loans Commission and cashback Offers & Promotions.
Who are MargPay's main competitors?
Direct peers on record are Cashfree Payments, Razorpay, Open Financial Technologies (Open), Mswipe, PayU India and BharatPe. Broad incumbents are PhonePe Business, Paytm for Business and Pine Labs. Tally Solutions is listed as an others.
Does MargPay have an API?
Yes. MargPay Terms of Use reference API(s) as part of the platform infrastructure. Users agree to use data owned by Marg Fintech available 'through any other means like API(s) etc.' The Terms also mention 'API keys' as part of the service offering. However, no dedicated API documentation URL, developer portal, SDK information, or specific API capabilities (REST/GraphQL/webhooks, auth methods, rate limits) are provided in the source material.
What industry is MargPay in?
MargPay's product category is Payment Processing / B2B Digital Payments. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAMAFAJ, A2A Reconciliation, Reporting & Treasury Ops. Its NAICS code is 522320 and its SIC code is 6199.