UDAY KUMAR, Entrepreneurial Executive Has been Recognized As Most Promising Fintech Entrepreneur of the Year - 2023, Hyderabad by Business Mint
Uday Kumar is an accomplished entrepreneur, engineer, strategist, and business enthusiast hailing from Hyderabad, India. With a strong background in FinTech, Logistics, Customer retention, Monetisation, and Last mile delivery, Uday has made significant contributions to the business world, leaving an indelible mark on the industry.
During his tenure as the Founder and CEO of Payism Technologies Pvt. Ltd. from 2013 to 2019, Uday Kumar displayed exceptional leadership skills and a visionary approach. Under his guidance, the company started from humble beginnings and quickly flourished into a formidable player in the market, achieving an impressive turnover of 2700Cr in 2017-2018. Handling the P&L for the entire business of Payism Global, Uday's strategic insights and decision-making prowess played a pivotal role in its growth.
One of Uday's notable achievements was the establishment of Payism Global's presence in 18 states, operating in 9 states with a vast team of over 400 employees, and a network of more than 30,000 retail touch points and 1500+ distributors. He successfully introduced the Domestic Money Remittance business based on Pre-Paid Instrument (PPI) for the B2B segment, demonstrating his ability to identify and capitalize on lucrative opportunities in the financial sector.
Furthermore, Uday Kumar's innovative mindset led to the development of Multiple application POS machines (super POS) and micro ATMs designed to cater to rural areas, expanding monetization and technology services to untapped markets. Notably, his efforts in providing prepaid cards for farmers facilitated loan approvals and settlements, along with the sale of e-commerce products through a unique dashboard accessible to customers without internet access or smartphones.
As the head of Operations, Uday effectively managed the backend support and network, implementing robust operational policies and fostering a culture of excellence. His skills in forging alliances with various entities, including Banking, Non-Banking, and Microfinance organizations, proved instrumental in initiating E-KYC projects for both Government and Non-Government organizations.
In 2016, Uday Kumar served as a Global Strategic Consultant at Chalmers Engineering Co. (L.L.C.) in Dubai, where he provided onsite support for client acquisitions and business transformation. His expertise in implementing Agile methodologies and process improvements significantly enhanced the company's offshore development performance, leading to revenue-generating products and increased operational efficiency.
Before Payism, Uday Kumar explored various entrepreneurial ventures, including his role as a Managing Partner at Grid and Design, where he focused on generating high revenues. He also partnered in designing and manufacturing affordable Laptops and Tablets with built-in cloud technology for college students under the brand "Do Laptops & Tablets."
In his earlier career, Uday served as the Senior Head of Operations at Kare4Tech IT Solutions, where he led the digitization of manual documents for Vidhan Sabha, Maharashtra Government Assembly, and conducted R&D in Payment solutions.
Uday Kumar's academic background is rooted in Mechanical Engineering, having obtained a Bachelor of Technology from Chaitanya Bharati Institute of Technology in Hyderabad. His diverse skill set includes expertise in Business Analysis, Risk Management, Mobile Applications, Sales Development, Payment solutions, Customer Service, Leadership, POS Services, Strategic Planning, and Creative Thinking.
Beyond his exceptional business acumen, Uday Kumar also demonstrates a deep commitment to social welfare. He is the Founder of the non-profit organization, Light Army, established in 2016. Under his leadership, the organization has been actively involved in conducting biannual blood donation camps, monthly food donation drives, and yearly blanket distribution initiatives. Additionally, Uday has made significant contributions to the well-being of senior citizens and orphanages, providing support and guidance to individuals to start their own businesses and imparting career guidance to students through various programs.
Uday Kumar's remarkable journey as an entrepreneur and his dedication to social causes have not gone unnoticed. He was recognized as an emerging FinTech entrepreneur of India by Lucy Neville-Rolfe under the UK India Trade Council in 2016, adding to his list of accolades.
Prior to Payism, Uday also founded Step-Like IT Solutions in 2006, a BPO and KPO services provider with four international processes and a team of 320 employees.
In conclusion, Uday Kumar's entrepreneurial drive, engineering expertise, and strategic acumen have shaped him into a prominent figure in the business world. His visionary leadership and commitment to social causes make him an inspiring figure, leaving a lasting impact on the industries he ventures into and the communities he serves.