PayCardo
A contactless payment solution designed for city buses providing the commuters a zero contact, secured, and hassle-free payment ecosystem while they travel.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor investor investor investor investor | €0.0 | round | |
* | N/A | Seed | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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PayCardo Private Limited is a forward-thinking startup that aims to revolutionize the way people handle cash transactions in public transportation. Operating primarily in India, PayCardo addresses the common issues of cash shortages and the health risks associated with handling physical money, especially in crowded environments like buses, auto rickshaws, and taxis.
The core product offered by PayCardo is a Smart Card that allows users to make cashless payments effortlessly. Unlike traditional e-cards that require swiping or tapping, PayCardo's Smart Card only needs to be waved near a reader to complete a transaction. This feature not only simplifies the payment process but also minimizes physical contact, thereby reducing the risk of germ transmission.
PayCardo serves a diverse clientele, including daily commuters, public transportation operators, and local governments. The company operates in the urban transportation market, focusing on making daily commutes safer and more convenient. By providing a seamless cashless payment solution, PayCardo aims to enhance the overall commuting experience.
The business model is straightforward: PayCardo generates revenue through transaction fees and card recharges. Users can easily recharge their Smart Cards via the PayCardo app, which also provides detailed information on bus routes and other transportation options. The app's user-friendly interface ensures that even those who are not tech-savvy can navigate it with ease.
PayCardo's commitment to security is evident in its use of a secure cloud platform to store data collected through the app and Smart Cards. This ensures that users' information is protected, fostering trust and reliability.
In summary, PayCardo is a pioneering company that offers a simple, secure, and hygienic cashless payment solution for public transportation. By addressing the dual challenges of cash shortages and health risks, PayCardo is poised to make a significant impact on urban commuting in India.
Keywords: Cashless payments, Smart Card, public transportation, India, commuters, secure cloud, germ-free, transaction fees, app-based recharge, urban mobility.