Nucleus Software launches offline digital payment solution PaySe

PaySe is world’s first offline digital payment solution designed and created with an aim to democratize money.

Anuj Sharma
New Update

Nucleus Software, the provider of lending and transaction banking solutions to the global financial services industry, today announced the launch of PaySe, world’s first offline digital payment solution designed and created with an aim to democratize money.


PaySe utilizes the latest advances in mobility, big data, open source and crypto currency (primarily tokenization) to deliver the secure offline peer to peer payment solution.  PaySe helps to reduce and offset the costs associated with cash by replacing physical cash notes with digital currency. With fewer notes in circulation, the cost of storing, transporting and processing cash will reduce dramatically.

A recent report by ‘National Institute for Bank Management’ and ‘Institute for business in the global context’ on ‘Cost of Cash in India’, showed that the total cost of storing, transporting and processing cash is 22,000 crore INR annually. This cost will only increase as the economy grows unless alternative approaches are used.

As consumers have deeply ingrained approaches to using cash, PaySe has been designed to mimic cash transactions with easy to use, one press ‘Pay’ and ‘Receive’ functions. PaySe will result in a “Less Cash” ecosystem eventually leading to a “Cash-Less” ecosystem for the majority of the financial transactions. By freeing up cash, the solution will facilitate the cost effective delivery of small loans.


The PaySe solution consists of three key components:

PaySe Processing System, is the interface between the real world and the digital world in accordance with the regulatory guidelines

PalmATM application allows any smart phone to perform the functions of a conventional ATM including the ability to withdraw and deposit


PURSE ( पर्स) is a mobile to carry digital money. PURSEis designed to pay or receive digital cash

PaySe helps address the access challenges faced by banks, micro finance institutions (MFIs) and non banking finance companies (NBFCs) by making basic banking services accessible to the unbanked such as direct debit transfers (DBT), micro pension, saving deposits, loans, recurring deposits etc. while delivering financial services such as:

1. PaySe enables offline digital cash and digital banking access to millions of global citizens who do not own  a mobile phone by delivering a mobile to carry money;


2. PaySe empowers a billion ATMs by leveraging the power of a smart phone and the banking infrastructure using industry standard messaging; and

3. PaySe reduces the cost of cash by digitizing money

PaySe provides a fully integrated and easy to use digital cash platform for consumers, merchants and banks while adhering to the regulatory guidelines.


For consumers, PaySe improves access to banking and insurance products by digitizing money.

For merchants, PaySe delivers the convenience of card transactions while retaining its full value like cash.

For banks, in addition to direct benefit transfer (DBT) and micro pension transfers, PaySe makes other banking services accessible to the unbanked beneficiaries through the PalmATM.

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