Venture Infotek Global Private

Venture Infotek Global Private Limited was a significant player in the Indian electronic payment and transaction processing sector. The company was founded in 1997 by Piyush Khaitan and Dhruv Khaitan. Initially, the business focused on marketing swipe machines and plastic for cards to issuing banks. A key early move was forming a joint venture in the early 1990s with the US-based company Equifax to provide comprehensive back-office solutions for credit card issuers, a stake which the founders later bought out with the help of private equity funding.

The company established itself as an e-infrastructure provider, offering integrated, end-to-end solutions for card payment processing for both issuing and acquiring banks. Its service portfolio was extensive, covering card issuance and acquiring processing, card supply and personalization, internet payment gateways, and loyalty programs. Furthermore, it provided solutions for mobile banking, merchant acquisition, utility bill processing, and risk management services. The business catered to a diverse client base across banking, financial services, petroleum, retail, and telecommunications sectors. By 2010, Venture Infotek held a substantial 35% market share in India, counting six of the top ten Indian banks among its long-term customers. At that time, it was processing 150 million card transactions annually, valued at ₹35,000 crore, and was issuing over 50 lakh payment and loyalty cards.

A major milestone in the company's history occurred in August 2010, when it was acquired by the French IT services major Atos Origin for approximately $100 million. This all-cash transaction provided an exit for investors like Kubera Cross Border Fund, which held a significant stake. Following the acquisition, Venture Infotek was integrated into Atos Worldline, the specialized entity of Atos Origin for hi-tech transactional services and electronic payments. This move marked Atos's entry into the rapidly growing Indian payments market. Prior to the acquisition, Venture Infotek had shown an average annual growth rate of 25% and employed nearly 500 people.

Keywords: payment processing, transaction processing, card payment solutions, acquiring bank services, issuing bank services, merchant acquiring, payment gateway, loyalty programs, Atos Worldline, Piyush Khaitan, Dhruv Khaitan, Indian fintech, electronic payments, card personalization, back-office solutions, financial services, retail payments, petroleum cards, utility bill processing