Mobileware Technologies
Mobileware Technologies (86400) is a Mumbai-based fintech infrastructure provider operating NPCI-certified cloud-hosted payment switches for UPI, IMPS, BBPS, and AePS, plus the TransXT API banking platform, serving 90+ banks and 30+ fintechs across India with 13+ billion transactions processed.
- Company typePrivate
- Founded2010
- HeadquartersMumbai, India
- Headcount—
- GTM typeB2B
- OfferingSoftware
What Mobileware Technologies does
Mobileware Technologies, operating under the brand 86400 since a July 2025 rebrand, is an India-based digital payment infrastructure provider founded in 2010 and headquartered in Mumbai. The company builds and operates NPCI-certified cloud-hosted payment switches across the four major Indian retail payment rails (UPI, IMPS, BBPS, and AePS), and offers TransXT, a plug-and-play API banking platform that aggregates QR payments, UPI Autopay mandates, payment links, and BBPS bill collection into a single 'bank-in-a-box' integration layer. Its customers comprise over 90 banks (BOU/COU) and 30+ fintechs, PPIs, and TPAPs across India, with 13+ billion transactions cumulatively processed and integrations to client Core Banking Systems and MIS portals forming the technical backbone of deployments.
The proprietary technology stack combines cloud-native hosted switches with a Reconciliation Engine launched in September 2025 that consolidates transaction data across payment switches, CBS, and NPCI files for real-time reconciliation and dispute resolution. Mobileware is NPCI Preferred Partner and NBBL-empaneled TSP for Bharat Bill Pay, and holds ISO 27001, ISO 9001, and DSS certifications. Revenue is generated via transaction-based fees on payment switching, subscription/recurring revenue on the TransXT API banking platform, and licensing arrangements enabled by the Zaggle strategic investment.
The company's go-to-market is B2B enterprise direct sales with quote-based, multi-year contracts targeting banks and fintechs in India. In 2024-2025, Zaggle Prepaid Ocean Services Limited acquired a 38.34% stake through two tranches totalling Rs 22.85 crore, positioning the business for vertical expansion into lending, credit, and card management through Zaggle's spend management distribution. The legal entity remains Mobileware Technologies Pvt. Ltd. and the company is privately held.
Mobileware Technologies firmographics
Firmographics- Name
- Mobileware Technologies
- Legal name
- Mobileware Technologies Pvt. Ltd.
- Website
- https://86400.in
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Short description
- Mobileware Technologies (86400) is a Mumbai-based fintech infrastructure provider operating NPCI-certified cloud-hosted payment switches for UPI, IMPS, BBPS, and AePS, plus the TransXT API banking platform, serving 90+ banks and 30+ fintechs across India with 13+ billion transactions processed.
- Ownership category
- akta.pro rank
Mobileware Technologies industry classification
Industry- Product category
- Digital Payments Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)
- SIC
- Services-Computer Processing & Data Preparation (7374), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Processor Back-End & Switch Providers (Issuer/Acquirer Processing Infrastructure) (FSAMABAJ)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Wire/RTP Reconciliation, Settlement & Nostro/Vostro Support (FSAMAHAH)
Keywords
Where Mobileware Technologies is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Mobileware Technologies business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales
Revenue model
- Payment Switch Services: Transaction-based revenue from providing NPCI certified payment switches (UPI, IMPS, BBPS, AePS) to banks and fintechs. Revenue is generated through transaction processing fees for digital payment infrastructure services.
- TransXT API Banking Platform: Revenue from the TransXT platform which provides API banking as a service enabling businesses to launch digital financial offerings including QR payments, recurring payments, and bill collections.
- Strategic Investment from Zaggle: Zaggle Prepaid Ocean Services Limited invested Rs 15.60 crores for 26% stake and additional Rs 7.25 crores for 12.34% stake, bringing total investment to Rs 22.85 crores for 38.34% ownership.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Enterprise pricing for banks and fintechs |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Mobileware Technologies product offering
Product offeringCore offering
Mobileware Technologies (operating as 86400) provides NPCI-certified cloud-hosted payment switches for UPI, IMPS, BBPS, and AePS, along with the TransXT plug-and-play API banking platform. The company enables banks, fintechs, PPIs, TPAPs, and billers to process digital payments and launch digital financial offerings through seamless API integration. A proprietary Reconciliation Engine consolidates transaction data across payment switches, core banking systems, and NPCI files to provide real-time reconciliation and dispute resolution.
Product overview
Mobileware Technologies (operating as 86400) offers a modular digital payment infrastructure platform consisting of four NPCI-certified payment switches (UPI, IMPS, BBPS, AePS) and the TransXT API banking platform. The TransXT platform acts as the umbrella API banking solution ('bank-in-a-box') that integrates these payment switches and provides additional services including QR codes, recurring payments via UPI Autopay, payment links, and bill collections. The Reconciliation Engine is a proprietary add-on module designed to address fraud and operational risks by consolidating transaction data across all payment systems for real-time reconciliation and dispute resolution.
Differentiator
Problem solved
Functional benefit
Brands
- TransXT: Plug-and-play API banking platform that enables businesses to smoothly launch and enrich their digital financial offerings. Provides QR code generation, UPI Autopay, payment links, and BBPS bill collection services.
Products and services
- Unified Payments Interface (UPI)
Quantifiable outcome
- Over 13 billion transactions processed
- +3 more outcomes
Companies that use Mobileware Technologies
Customer profileNamed customers2 records
Segments6 records
Ideal customer profiles3 records
Mobileware Technologies technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature7 records
Mobileware Technologies partnerships and signals
Strategic signalScale indicators7 records
Recent moves6 records
Expansion highlights6 records
Mobileware Technologies competitors and assessment
Company assessmentDirect peers
- Juspay: Juspay provides payment orchestration and switch infrastructure powering many of India's largest merchants and banks, directly comparable to Mobileware's hosted payment switch and API stack.
- PhonePe: PhonePe runs the largest UPI TPAP and operates payment switch infrastructure at massive scale, competing with Mobileware for bank integrations, TPAP services, and merchant payment processing.
- Razorpay: Razorpay provides payment gateway, payment switch, and API-based banking infrastructure for Indian businesses and fintechs, overlapping with Mobileware's TransXT and hosted switch offerings.
- Cashfree Payments: Cashfree operates payment switch, payout, and collection APIs for businesses, with strong overlap to Mobileware's IMPS/UPI payout and TransXT API banking capabilities.
- Setu (Pine Labs): Setu offers API-based banking, UPI, BBPS, and account aggregation infrastructure, competing head-to-head with Mobileware's TransXT platform for fintech BaaS customers.
- M2P Fintech: M2P Fintech provides payment switch, card issuance, and API banking infrastructure for banks and fintechs, with direct overlap to Mobileware's hosted switch and TransXT platform.
- Paytm (One97 Communications): Paytm operates one of the largest UPI payment switches and merchant acquiring stacks in India, directly competing with Mobileware's hosted UPI switch and PSP services for bank and fintech customers.
Broad incumbents
- BillDesk: BillDesk is a long-established Indian payment aggregator and BBPS operator, competing with Mobileware in the BBPS switch and bill collection infrastructure layer.
Emerging players
- Decentro: Decentro offers API-based banking, payments, and KYC infrastructure for fintechs and businesses, overlapping with Mobileware's TransXT API banking and verification services at a more emerging scale.
Regional players
- IndiaIdeas (BillPay): BillPay (IndiaIdeas) is a BBPS-focused operating unit and Biller Aggregator Platform, competing with Mobileware's BBPS switch in bill payment infrastructure for banks and billers in India.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Mobileware Technologies social profiles
Digital presenceMobileware Technologies compliance and trust
Trust signalCompliance4 records
Mobileware Technologies financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mobileware Technologies leadership team
Management profileNumber of profiles
Mobileware Technologies funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mobileware Technologies 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 Mobileware Technologies
What does Mobileware Technologies do?
Mobileware Technologies (operating as 86400) provides NPCI-certified cloud-hosted payment switches for UPI, IMPS, BBPS, and AePS, along with the TransXT plug-and-play API banking platform. The company enables banks, fintechs, PPIs, TPAPs, and billers to process digital payments and launch digital financial offerings through seamless API integration. A proprietary Reconciliation Engine consolidates transaction data across payment switches, core banking systems, and NPCI files to provide real-time reconciliation and dispute resolution.
Is Mobileware Technologies a public or private company?
Mobileware Technologies is a private company. It is classified as venture growth investor backed and is currently operating.
When was Mobileware Technologies founded?
Mobileware Technologies was founded in 2010.
Where is Mobileware Technologies based?
Mobileware Technologies is headquartered in Mumbai, India, in the Asia region.
How does Mobileware Technologies make money?
Three revenue lines are on record. Payment Switch Services are the primary driver. The others are transXT API Banking Platform and strategic Investment from Zaggle.
Who are Mobileware Technologies's main competitors?
Direct peers on record are Juspay, PhonePe, Razorpay, Cashfree Payments, Setu (Pine Labs), M2P Fintech and Paytm (One97 Communications). BillDesk is listed as a broad incumbent. Decentro is listed as an emerging player. IndiaIdeas (BillPay) is listed as a regional player.
Does Mobileware Technologies have an API?
Yes. Public API platform providing UPI, IMPS, BBPS, and AePS payment switch capabilities. Supports QR code generation (static and dynamic), UPI Autopay for recurring payments, payment links, bulk payments, fund transfers (P2P, P2A, P2M), balance enquiry, OTP generation, account validation via penny drop, merchant payments, BBPS bill collection, and e-KYC services. Available as cloud-hosted switches with seamless API integration for banks and fintechs. Developer documentation is at www.86400.in/TransXT.
What industry is Mobileware Technologies in?
Mobileware Technologies's product category is Digital Payments Infrastructure. Its primary akta.pro industry code is FSAMABAJ, Processor Back-End & Switch Providers (Issuer/Acquirer Processing Infrastructure), with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 522320 and its SIC code is 7374.