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New Delhi [India], August 10 (ANI/SRV): Muthoot Pappachan Group that has specialized in gold loans for over a century has picked up 54 per cent stake in Hyderabad-based fintech start-up Paymatrix by buying out investors as part of its added focus on the digital segment. Paymatrix is a fintech company that was set up in 2016 by Mukesh Chandra Anchuri and Muralidhar Nayak Guguloth as a platform to enable individuals and businesses to make their payments such as rental advances, security deposits, and maintenance on credit cards. "We started with a small use-case of offering rent-related payments on credit cards to eventually evolve into a Virtual swiping machine or a soft PoS(Point-Of-Sale) enabling payments for all expenses and bills using a credit card. The idea of Paymatrix was conceived when we faced a similar situation of arranging 300,000 INR as rental deposits to our landlord in Bombay," divulged Mukesh, Chief Executive Officer of Paymatrix. Since their landlords didn

United arab emiratesAndhra pradeshNew delhiMukesh chandra anchuriMuralidhar nayak gugulothJan dhan yojanaMuthoot pappachan groupXseed partners iiith seed fund foundationChief executive officerVirtual posSmart city dubaiPappachan groupPradhan mantri suraksha bima yojanaRupay cardsNew delhi indiaUgust 10 ani srv muthoot pappachan group that has specialized in gold loans for overa century picked up 54 per cent stake hyderabad based fintech start paymatrix by buying out investors as part of its added focus on the digital segment isa company was set 2016 mukesh chandra anchuri and muralidhar nayak guguloth asa platform to enable individuals businesses make their payments such rental advances