Mylapay builds the backend rails for card payments
India's payment pipes just got a significant upgrade.
Mylapay builds the backend rails for card payments so banks and payment aggregators stop wrestling with legacy processors.
Their cloud‑native platform handles authentication, authorisation, clearing, and settlement with built‑in 3DS security and an authorisation switch that can process over 5000 transactions per second.
A fresh $1M funding round, backed by CDM Capital, Saison Capital, and 77 Capital, takes total funding to about US$1.55m and fuels a unified acquiring platform that lets banks accept cards, UPI, and net‑banking through one connection. With experience from Hitachi Payment and Worldline, founders Mohanraj Ravi, Santhanakumar Dhanabalakrishnan, and Sundar Balasubramanian are solving the infrastructure gaps that cause revenue leakage and slow authorisations.
Their product is already being trialled with banks across India and the Middle East and is designed to scale globally. Secure, high‑throughput payment rails aren't optional as volumes grow - they're the moat.
Subscribe to fintechoftheday.com for our daily deep dive on one fintech startup.
Which other pieces of the payment stack still need modernising?
#fintechoftheday #payments #APAC
Photo: Incubees
