What Applied Payments Technology does

Applied Payments Technology (APT), founded in 2013 and headquartered in Kochi, India, builds and sells an integrated payments-infrastructure platform for banks, payment service providers, issuers, and acquirers. Its offering spans six core products: Pravega (a multi-channel payments switch handling ATM, POS, mPOS, E-commerce, and host transactions over ISO 8583, ISO 20022, and Open APIs), Asthra (ATM driving and management supporting NDC and Diebold protocols), Krayam (a card management system covering issuance through retirement for debit, credit, virtual, prepaid, gift, voucher, and wallet products), Vi-Ta POS (POS driving for Android and iOS), an API Stack for open-banking integration, and Payment as a Service (cloud-delivered processing).

The company monetizes through a mix of transaction-based processing fees, professional services (integration, implementation, development, compliance, and onsite support), hardware resales under its exclusive FUTUREX India distribution (HSMs, security devices, VirtuCrypt cloud-HSM), and licensing/distribution of emPay's ReconPlus reconciliation system across Asia, Africa, and the Middle East. Go-to-market combines direct enterprise sales with authorized reseller and distributor channels, and the customer base spans large corporates (Tata, Hitachi, Marvell), Indian processors (mSwipe, Paynext), African and Asian banks (CCB, Ecentric, Tranred, GCT), and open-source payment platforms (Mojaloop).

Operating presence extends beyond the Kochi headquarters to regional offices in Johannesburg, South Africa and Krefeld (Düsseldorf), Germany, and the company has raised a SEED round (2018, undisclosed), holds no parent entity, and discloses no revenue, ARR, or transaction volume in the source data.

Name

Applied Payments Technology

Legal name

Applied Payments Technology

Website

https://appliedpaymentstech.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Applied Payments Technology (APT) is a Kochi-based payment-infrastructure vendor that provides a proprietary switching, ATM/POS driving, card management, and reconciliation platform to banks, payment service providers, and acquirers across India, Africa, and Europe.

Ownership category

akta.pro rank

Product category

Payment Processing Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Payment Processing & Acquiring Infrastructure (FSAGABAC), Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD), EMV Chip, Magstripe & PIN Debit Acceptance (FSAMADAG), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

Keywords

• Payment processing platform
• Card management system
• ATM driving solution
• POS driving software
• Open banking APIs

Headquarters

HQ city

Kochi

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Payment Processing Solutions: Transaction processing through Pravega Payments Stack, ATM driving, POS solutions, and card management systems
2. Professional Services: Integration, implementation, development, and compliance services along with production and go-live support, onsite resource deployment and remote assistance
3. Product Sales: Sales of hardware security modules, security devices, and enterprise crypto solutions through FUTUREX partnership
4. Reseller Revenue: Sales, support and services for emPay products (ReconPlus reconciliation system) as official distributors for Asia, Africa, Middle East

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Applied Payments Technology provides an integrated payments and transaction processing software platform — the APT Payments Stack — that includes a payment switch (Pravega), ATM driving (Asthra), POS driving (Vi-Ta), card management (Krayam CMS), and Open Banking API integration. The company serves banks, payment service providers, and financial institutions, and additionally resells FUTUREX hardware security modules in India and distributes emPay's ReconPlus reconciliation system across Asia, Africa, and the Middle East.

Product overview

Applied Payments Technology offers a modular platform-plus-products architecture centered on its APT Payments Stack. The portfolio consists of six distinct products: Pravega Payments Stack (the core payment switching platform processing transactions from ATM, POS, mPOS, E-Commerce, and Hosts); Asthra ATM Driving Solution (ATM management with NDC and Diebold protocol support); Krayam CMS (card lifecycle management for debit, credit, virtual, prepaid, gift, vouchers, and wallets); Vi-Ta POS (POS driving solution supporting Android and iOS); API Stack (supporting ISO 8583, ISO 20022, and Open API standards); and Payment as a Service (cloud-based payment processing). The company also provides professional integration, implementation, development, and compliance services.

Differentiator

Problem solved

Functional benefit

Brands

• Pravega Payments Stack: A fully integrated comprehensive Switch capable of processing financial transactions from ATM, BNA, POS, mPOS, E-Commerce, and Hosts.
• Asthra ATM Driving Solution
• Krayam CMS
• Vi-Ta POS
• API Stack
• Payment As A Service (PaaS)

Products and services

• Pravega Payments Stack A fully integrated comprehensive payment switch capable of processing financial transactions originating from ATM, BNA, POS, mPOS, E-Commerce, and Hosts. Targeted at banks, service providers, issuers, and acquirer banks requiring multi-channel transaction processing.
• Asthra ATM Driving Solution Fully integrated ATM driving and management application supporting standard NDC and Diebold protocols as well as API integration. Can be deployed as a stand-alone ATM Switch or integrated with any Switch/Host/Network. Targeted at banks and ATM operators.
• Krayam CMS (Card Management System) Fully integrated Card Management System managing the entire lifecycle of cards including issuance, production, activation, redemption, fees, and retirement. Supports Debit, Credit, Virtual, Prepaid, Gift, Vouchers, and Wallets with instant issuing, EMV/NFC/QR code support, real-time authorization, and configurable risk rules. Targeted at issuers and financial institutions.
• Vi-Ta POS Comprehensive POS driving and management application supporting standard POS protocols as well as API integration including Android and iOS devices. Can be integrated with any Switch/Host/Network. Targeted at banks, acquirers, and merchant payment service providers.
• Payment as a Service (PaaS) Cloud-based payment processing and transaction handling service providing payment infrastructure as a service. Targeted at financial institutions and payment service providers seeking cloud-delivered payment capabilities.
• APT Professional Services Integration, implementation, development, and compliance services along with production and go-live support, onsite resource deployment, and remote assistance across the globe. Targeted at financial institutions and payment service providers deploying APT's software stack.
• FUTUREX Hardware Security Modules (HSMs) and Security Devices Hardware Security Modules, enterprise crypto solutions, and cloud-based HSM services through VirtuCrypt, distributed by APT as India's first authorized FUTUREX reseller. Targeted at financial institutions, retailers, and terminal manufacturers requiring data encryption.
• emPay ReconPlus Reconciliation System Highly configurable reconciliation application for electronic payment transactions across multiple entities and sources, supporting single message and dual message systems. Distributed by APT across Asia, Africa, and the Middle East as the official emPay distributor. Targeted at service providers, issuer banks, and acquirer banks.

Named customers12 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• FuturexcoreTechnology or Integration · 1 January 2015Applied Payments is the first authorized partner of FUTUREX in India for Hardware Security Modules, enterprise crypto solutions, and cloud-based HSM services through VirtuCrypt. Futurex provides data encryption solutions for financial institutions, retailers, and terminal manufacturers with over 34 years of experience and 15,000 customers. APT provides sales, support, and services for Futurex HSMs, security devices, and solutions as the only official distributors in India.
• emPaycoreChannel Partner/ Reseller/ DistributorAPT has partnered with emPay for Merchant Acquiring, Recon and Settlement Solutions. As the official emPay distributors for Asia, Africa, and Middle East, APT provides sales, support, and services for emPay's products including ReconPlus - a highly configurable application for reconciling electronic payment transactions across multiple entities and sources.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Worldline: Large European payment processor and POS hardware provider with broad acquiring and merchant services; competes with APT across payment processing infrastructure and POS hardware.
• FIS: Global financial technology provider offering core banking, payment processing, and card management at massive scale; overlaps with APT across the full payments stack including switching and card management.
• Fiserv: Major fintech with broad payments and banking software portfolio including POS and processing; competes with APT in transaction processing and merchant acquiring infrastructure.

Emerging players

• Spreedly: Payment orchestration platform offering API connectivity to multiple payment gateways; partial overlap with APT's API Stack concept of routing and integrating payments through standardized APIs.

Direct peers

• OpenWay: Vendor of card management, payment processing, and digital banking platforms used by banks and processors globally; overlaps with APT's Krayam CMS and Pravega switching offerings.
• BPC Banking Technologies: Vendor of payment switching, card management, and digital banking platforms for banks in emerging markets; close functional competitor to APT's end-to-end stack across Pravega, Asthra, and Krayam.
• NCR Corporation: Major provider of ATM driving software and POS solutions to banks and retailers; directly competes with APT's Asthra ATM Driving Solution and Vi-Ta POS offerings across channels.
• Diebold Nixdorf: Provider of ATM and POS software and services including NDC-protocol ATM driving; competes with APT's Asthra ATM driving and Vi-Ta POS in the same product categories.
• ACI Worldwide: Global provider of real-time payment processing software and switches for banks, processors, and billers; competes with APT's Pravega Payments Stack in core transaction-switching for financial institutions.
• Verifone: Global provider of POS payment acceptance hardware and software; competes with APT's Vi-Ta POS product for in-person payment acceptance at merchants and retailers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/applied-payments

Revenue estimate

Valuation estimate

Number of profiles

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 Applied Payments Technology