Nitin Chavan, CEO of Aquapay
Nitin Chavan, CEO of Aquapay

Aquapay appoints new CEO to lead next phase of Enterprise Payments growth & innovation

ANI | Updated: Jul 23, 2020 10:49 IST

Mumbai (Maharashtra) [India] July 23 (ANI/PRNewswire): Enterprise Payments Major & Platform as a service (PaaS) specialist, Aquapay Payments Technologies (P) Ltd, announced today that Nitin Chavan has been appointed as Chief Executive Officer. Nitin joins Aquapay team with two decades of overall experience spanning across logistics, aviation, insurance, and banking majors. He has about 15 years of Enterprise Payments experience and a strong track record of growth acceleration and business transformation.
He has most recently served as Vice President & Business Head - Commercial Cards, India at Axis Bank Limited where he was responsible to make Axis Bank, one of the largest & fastest growing issuers in Commercial Cards business in India. The launch of innovative payment products and solutions suite is a testament to his strong passion and vision for the Commercial Cards business. His deep knowledge and understanding about Commercial Cards, Enterprise Payment Ecosystems, Process Innovations, and Technology platforms make him one of the respected professionals within the peer banks and network partners.
Prior to Axis Bank, Nitin held strategic positions at American Express & ICICI Bank. At American Express, he played a very strategic and vital role to introduce large Indian corporate clientele to Amex franchise that earned him global awards cum recognition for three consecutive years. At ICICI Bank, he looked after their Fleet Card, Corporate Card and Prepaid Card programs. His initial career assignments were with Elbee Services, Amadeus India & Bajaj Allianz General Insurance in the area of Sales & Marketing.
Nitin is a Bachelor of Technology Graduate from the Institute of Chemical Technology (ICT) and an MBA in Marketing from Mumbai University.
"We are extremely delighted to welcome Nitin Chavan to Aquapay family. He brings to the company a demonstrated track record of strategic and operational leadership and thorough enterprise payment expertise. Nitin's deep and diversified experience and familiarity with the whole eco-system of the payment industry gives us great confidence that he is the right leader to drive Aquapay's growth strategy and deliver long term value for our stakeholders," commented Board of Directors at Aquapay on Nitin's appointment.

Aquapay has clearly established itself as one of the unique and fastest-growing FinTech players in the Enterprise Payments space with an innovative and extensive product suite for large, medium & small corporates across various industries. Their existing enterprise product suite in the area of Supplier Payments, Utility Bill Payments, GST Payments, Direct Tax Payments, Virtual Cards etc. help companies to improve their process efficiency, drive savings and attain technological edge with enhanced controls & user experience.
Aquapay's dominance in Enterprise payment space and the fastest growth is also evident from their business milestones in a very short span of time. Aquapay is proud to be associated with more than 300 marquee corporates and processed more than Rs 30,000 crores of payments to over 1,20,000 suppliers in less than three years.
Aquapay's original & ongoing strength lies in its Tech expertise and capabilities around state-of-the-art Digital Infrastructure, Microservices architecture, AI/ML Capabilities, Enterprise First Technologies, Customer facing Apps & Interfaces, Superior Infra Management practices to name a few. It also brings in a mix of experience in Full Stack Development, UI/UX & Frontend Development, Big Data, and Enterprise level database management.
Aquapay's upcoming launches around Neo Banking, Account Receivables, INR Prepaid Cards, Expense Management, Forex Cards, Remittances, Consumer Lending etc. will not only strengthen their product & solution suite but it will also keep their competitors behind with a very huge margin.
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