Keeping in mind the government's intention for cash-less transactions, Payworld subsidiary Smart Payment Solutions, a 100% subsidiary of Payworld, has applied to RBI for Payment Bank License.
 
Payworld is a brand promoted by Sugal and Damani Utility Services.
 
Smart Payment Solutions, which currently has a Pre-Paid Instrument ( PPI ) License from RBI and offers Digital Wallet to customer which can be used as a Payment option on more than 15,000 websites and is available on Android, Windows platform and also supports Multilingual capabilities. The digital wallet balance can be topped up by paying cash at more than 60,000 Payworld's retail Touch Points.

Payworld plans to expand its outlet reach to 3 lakh over the next three years by investing around Rs 1 billion, said Praveen Dhabhai, chief operating officer, Payworld.