By Chaitanya | BBA Finance Graduate & 6+ Years of Experience in Stock Market & Finance
In a significant boost for India’s digital payment ecosystem, Niyogin Fintech Limited’s subsidiary, Iserveu Technology Private Limited, has successfully inked a substantial five-year contract with the Central Bank of India. This pivotal Niyogin Fintech Central Bank of India contract, valued at approximately $10 million (around Rs 86 crore), is set to revolutionise merchant acquiring services and bolster digital payment infrastructure across the nation. The news has already sent positive ripples through the market, with Niyogin’s stock experiencing a noticeable surge.
Transforming Merchant Payments Across India
The core objective of this strategic agreement is to enhance the Central Bank of India’s merchant acquiring capabilities by deploying a robust suite of digital payment solutions. According to reports from August 7, 2025, the contract’s scope is comprehensive, focusing on the deployment and ongoing management of UPI-enabled soundboxes, a dedicated merchant application, and a sophisticated soundbox platform. This will be supported by a comprehensive back-end system to ensure smooth operations. A key highlight of this partnership is the commitment to supply over 60,000 UPI-enabled soundboxes annually, indicating a strong push towards digital adoption among merchants.
Further media confirmations on August 6, 2025, revealed that the contract extends its reach beyond the main bank. Iserveu will also be responsible for servicing the Central Bank of India’s subsidiaries, their sponsored Regional Rural Banks (RRBs), and any future merged entities. This broad coverage ensures scalability and a seamless transition from previous payment service providers to Iserveu’s advanced technology. The contract’s five-year duration, with an optional extension, guarantees predictable recurring revenue for Iserveu, strengthening its financial outlook and market position.
Niyogin Fintech: Powering MSME Growth
Niyogin Fintech Limited, the parent company, is a prominent Indian Non-Banking Financial Company (NBFC) that specialises in providing digital financial services primarily to Micro, Small, and Medium Enterprises (MSMEs). Its diverse offerings include secured and unsecured loans, domestic money transfers, Aadhaar Payments, investment advisory, and SaaS platforms. The company leverages artificial intelligence (AI) and cutting-edge technology to deliver financial solutions to India’s often underserved small businesses, operating mainly from Mumbai with a vast partner network.
Strong Financial Performance and Market Confidence
The announcement of the Central Bank of India contract comes on the heels of Niyogin Fintech’s impressive financial results for the fourth quarter of Fiscal Year 2025 (Q4 FY25). The company showcased robust growth, demonstrating its operational efficiency and strategic direction. Below is a snapshot of their quarterly financial performance:
| Financial Metric | Q4 FY24 (Rs. crore) | Q4 FY25 (Rs. crore) | % Change |
|---|---|---|---|
| Revenue | 50.18 | 69.85 | +39.20% |
| Net Profit / (Loss) | (3.81) Loss | 2.68 Profit | Turned Positive |
As evident from the figures, Niyogin’s revenue climbed by an impressive 39.20% year-on-year, moving from Rs. 50.18 crore in Q4 FY24 to Rs. 69.85 crore in Q4 FY25. Even more significantly, the company moved from a net loss of Rs. 3.81 crore in the previous year to a healthy net profit of Rs. 2.68 crore in Q4 FY25, marking a remarkable turnaround.
The market responded enthusiastically to the news of the Niyogin Fintech Central Bank of India contract. Niyogin Fintech Limited’s shares saw a significant uptick, reflecting strong investor confidence. Here’s how the stock performed:
| Metric | Value (Rs.) | Remarks |
|---|---|---|
| Previous Day Close Price | 56.64 | – |
| Intraday High Price | 60.89 | Approximately 7.5% gain |
| Current Trading Price | 59.49 | Price slightly retreated after high |
| Market Capitalization | Rs. 661.72 crores | – |
Niyogin’s stock recorded an intraday gain of nearly 7.50%, briefly touching Rs. 60.89 per share before stabilising. This positive movement underscores the market’s belief in the potential of this new partnership and Niyogin’s trajectory.
Driving India’s Digital Payment Revolution
This collaboration between Iserveu and the Central Bank of India is a testament to the growing reliance on robust digital payment solutions in India. By focusing on the widespread deployment of UPI soundboxes and comprehensive backend support, the partnership is poised to expand digital payments acceptance significantly, especially amongst small and medium-sized merchants. This initiative aligns perfectly with India’s broader agenda of fostering a cashless economy and boosting financial inclusion for MSMEs. The predictable revenue stream from this deal further stabilises Iserveu’s business model, setting the stage for sustained growth in the dynamic fintech sector.
The signing of the $10 million Niyogin Fintech Central Bank of India contract represents a strategic milestone for both Niyogin Fintech and Iserveu. It not only solidifies their position as key enablers of digital payments but also signifies Central Bank of India’s commitment to modernising its merchant services. This partnership is expected to play a crucial role in accelerating digital adoption, empowering countless businesses across India, and further cementing the nation’s leadership in the global digital payments arena.
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