25 March 2018

Accel India invests in payments outfit enStage

17 June 2009  |  1159 views  |  0 Source: enStage

Accel Partners (India), a leading venture capital firm, today announced an investment in enStage, a Cupertino, California based provider of innovative payment solutions.

enStage specializes in serving the payment industry in emerging markets such as India and has been a leading provider of authentication and payment solutions in prepaid, online, and mobile payments.

enStage payment products include the electronic card popularized by HDFC Bank under the name of NetSafe, as well as the Verified by Visa solution launched by several financial institutions for their customers. enStage's product portfolio includes solutions for payment gateways, mobile payments, IVR payments, and eCommerce authentication.

"enStage is in a unique position to bring innovative payment solutions to emerging markets where growth potential is substantial," said Subrata Mitra, Partner of Accel India. "enStage has not only developed unique payment products, but has also established itself as a market leader in India; it is rapidly becoming a leading provider of infrastructure services in electronic payments," he added.

"As consumers get more sophisticated in their use of technology, they demand better and more convenient payment products and services. enStage payment solutions offer consumers security and a choice of payment options," said Govind Setlur, founder and CEO of enStage.

"As payments on the Internet and mobile devices become more popular, fraud increases as well, and enStage ensures that security is at the core of payment solutions," he added.

"Our partnership with Accel will accelerate our gain of market share not only in India but in a number of emerging markets," Setlur commented on the investment.

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