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The Silicon Review Asia

Nearex –Making digital payments affordable and accessible

The Silicon Review
December, 2019


Digital payment platforms have eased cashless transactions, and have been popular. These platforms are capable of making payments online as well as offline mode. Cashless payments are the way of the future and easier than using cash in leisure facilities and offices. Micro-payment is a hugely exciting domain. There is no greater satisfaction for those in the technology space than building products that its users like the most and keep using it.

Nearex is a pioneer in defining the industry; it is a rapidly growing fintech company, providing a breakthrough cashless payment technology that’s revolutionizing small payments across emerging markets. Founded in 2012, by professionals from the mobile and fintech industry, the Nearex team’s passion is to digitize small everyday payments where cash continues to dominate.

Primary Objective

To provide a breakthrough cashless payment technology that’s revolutionizing mass payments across emerging markets.

Products and solutions that are defining the power of digital payment

Leveraging the power of Xip

The Xip micropayment system is designed to digitize everyday low-value payments where cash continues to dominate. Xip leverages the power of contactless technology to deliver a world-class end-to-end solution comprising of terminals, tags and the software.

Xip delivers powerful features based on its robust building blocks which include:

  • NFC / QR / Audio Suitable Payment Tech
  • Affordabledevices and a variety of POS
  • Multipleform factors and a variety of TAGS
  • OfflineTransactions and Stored Value Payments
  • FasterDeploymentPre-integrated APIs
  • On-Premises/Cloud Hosting

Xip Platform

Xip Platform is built to manage an innovative range of terminals, tags & transactions and deliver a sophisticated solution that is highly flexible, scalable and secure.

Xip Devices

A unique range of terminals developed to support NFC, QR, Audio and Biometric based payments. Be it online or offline, mass or niche market, they cover all the use cases at a very affordable cost as they are designed for scale & flexibility.


An innovative range of NFC tags that serve as a unique linked identifier for both online and stored value payments. Tags are available in various form factors like a card, sticker or modular wearables, to suit the lifestyle of your consumers.


XipAPPs allow the extension of Xip Platform's online and offline capability to Android NFC phones and Android-based NFC Terminals.

Xip Stored Value Payment Solution

Xip Stored Value Payment Solution is an offline payment system where value is stored and managed on the tags that customers carry. Such systems are invaluable where transaction speed is critical – like in transports – or where network connectivity is unreliable. Xip Stored Value delivers a user experience to customers that are as close to cash as one can get, making it a great first step for digital payments for users who are only used to cash.

Xip Stored Value Key Features:

In addition to Xip Platform’s common features, the Stored Value also has a host of features to make it a truly compelling payment system.

  • iconCash-based or online loading of cards
  • iconAnonymous or mobile-linked cards
  • iconOffline PIN, with a per user-selectable limit
  • iconOptional pre-integrated wallet

Contactless Solution

Xip Contactless Payment Solution was created to make electronic payments as simple and easy to use as cash, affordable enough to use for the smallest merchant in any country and powerful enough for the most sophisticated merchants. Xip brings a complete payment system to enable a very wide variety of organizations to launch retail and proximity payment services. It helps mobile money grow beyond remittances, banks to reach the unbanked, and wallet services to offer convenient retail payments.

Xip enables simple, convenient and secure cashless payment that fits the social context based on these unique features.

  • iconEasy& Fast to deploy: Faster go to market
  • iconDistributed tag issuing: efficient and convenient customer acquisition
  • iconRich set of services – airtime sales, utility bill payments, and more
  • iconSupport for service promotion features
  • admin-ajaxDaily business reporting, transaction reports

The formidable leader behind the success of Nearex

Mayank Sharma is the Chief Executive Officer of Nearex. Mr. Mayank believes the challenge of cashless micropayments can only be solved when technology competes favorably with the convenience and affordability of cash. He started Nearex to empower consumers & merchants around the world with simple cashless payments leveraging the reach of mobile phones. Mayank is an industry veteran with experience in leading multiple global teams.

“We provide a breakthrough cashless payment technology that’s revolutionizing mass payments across emerging markets.”


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