Nucleus Software Surges 10% On Launching 'PaySe'

Shares of Nucleus Software Exports surged as much as 10 per cent after the company launched PaySe digital cash solutions in three new form factors payment: smart watch, bank and micro SD card.

Nucleus Software in a statement said, "By increasing the form factors supported, beyond the original hardware wallet and Near Field Communication card, PaySe has now opened a range of new use cases for digital cash."

PaySe is a peer to peer offline payment platform which helps unbanked and unconnected people to make digital payments.

According to Nucleus Software, "Since its launch in mid-2016, PaySe has helped move micro-savings of unconnected from rural areas to banks and enabled micro-lending for this segment to the tune of Rs 10 million."

Analysts say with government's push on boosting digital payments will help Nucleus Software going ahead.

Vishnu R Dusad, CEO of Nucleus Software Exports told NDTV Profit, "The way our payment solution is different from others is that it does not require any network either internet or telecom connectivity and as reports suggest that 950 million people do not have connectivity in the country and that is where our solution comes handy."

Meanwhile, Mr Dusad added that the company is in talks with telecom companies, handset manufacturers and financial institutions for promotion of this technology.

Shares of Nucleus Software ended 6.95 per cent higher at Rs 291.60.