About Fiserv Merchant Solutions Private Limited
Data last updated:
Fiserv Merchant Solutions Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of First Data Holding 1 (Netherlands) Bv. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 28 July 2009 and has been in existence for over 17 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74140MH2009PTC194399. Its GSTIN is 27AAFCP1216R1Z3 (Maharashtra). The company holds 15 GST registrations, of which 9 are active.
The company has an authorised share capital of ₹397.57 Cr and a paid-up capital of ₹397.57 Cr. It was formerly known as Pos Ice Merchant Services Private Limited. It is led by directors including Murali Rajashekaran Nair and Rajan Verma.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 74 Kalpataru Square Off Andheri Kurla Road Kondivita Lane Andheri (East), Mumbai, Maharashtra, India – 400059.
As per the financials filed for FY 2025, the company reported a revenue of ₹250.99 Cr, a decline of 49% compared to the previous year. For the same year it recorded a net loss of ₹564.13 Cr (net margin -224.8%) and EBITDA of -₹489.81 Cr (EBITDA margin -195.2%). Revenue has declined at a compounded annual rate (CAGR) of 23% over three years and 16% over five years.
The company has about 25 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹4 Cr on record. Court records list 19 cases involving the company, including 3 filed by the company and 12 filed against it; 6 cases are pending. The company has 3 deals on record (1 funding round, 1 convertible or debt financing, 1 secondary share transfer), with disclosed funding of ₹397.56 Cr; the latest was in March 2010. Its 10 peer companies in the BFSI industry (Payment Solution Providers) are compared by revenue, 5 larger and 5 smaller; the largest is Payswiff Solutions Private Limited with revenue of ₹284.33 Cr. The company has 5 MSME Form 1 returns on record between 2023 and 2024, listing 507 overdue payments to 37 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website merchants.fiserv.com.
Name History of Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions has undergone 2 name changes throughout its history. The company was previously known as Pos Ice Merchant Services Private Limited, and Fiserv Merchant Solutions Private Limited. The current legal name is Fiserv Merchant Solutions Private Limited.
| Company Name | Status |
|---|---|
| Fiserv Merchant Solutions Private Limited | Current |
| Pos Ice Merchant Services Private Limited | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address74 Kalpataru Square Off Andheri Kurla Road Kondivita Lane Andheri (East), Mumbai, Maharashtra, India – 400059
- IndustryFinancial Services, Digital Payment Solutions
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Business Activity of Fiserv Merchant Solutions Private Limited
The main business activity of Fiserv Merchant Solutions is financial and insurance service. In detail, this covers other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Fiserv Merchant Solutions Private Limited FY 2025 filings available
Fiserv Merchant Solutions Private Limited reported revenue of ₹250.99 Cr (down 49% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Fiserv Merchant Solutions Private Limited
Revenue has declined at a compounded annual rate (CAGR) of 16% over five years, including a 49% fall in the latest year. EBITDA fell 528% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary of Fiserv Merchant Solutions Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹489.81 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹564.13 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Fiserv Merchant Solutions Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -195.2% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -224.8% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Fiserv Merchant Solutions are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions has 4 current directors and 25 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Murali Rajashekaran Nair Also directs: First Data (India) Private Limited, Converj Global Private Limited | Director | 01 Mar 2024 | 2 Years 7 Months | Current |
| Rajan Verma Also directs: First Data (India) Private Limited | Director | 15 Feb 2019 | 7 Years 8 Months | Current |
| Vikas Bhauwala | Nominee Director | 11 Sep 2023 | 3 Years 1 Months | Current |
| Haribandhu Patra | Director | 07 Aug 2025 | 1 Years 2 Months | Current |
Peer Comparison of Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Payment Solution Providers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Payswiff Solutions Private Limited | ₹284.33 Cr (FY 2022) | •••• | •••• | 38.0% | •••• | Hyderabad, Telangana, India |
| Desiderata Impact Ventures Private Limited | ₹278.34 Cr (FY 2025) | •••• | •••• | 75.0% | •••• | New Delhi, Delhi, India |
| Knockus Services Private Limited | ₹272.39 Cr (FY 2025) | •••• | •••• | 158.0% | •••• | Delhi, India |
| Ola Financial Services Private Limited | ₹265.39 Cr (FY 2024) | •••• | •••• | 176.0% | •••• | Bangalore, Karnataka, India |
| Mobirec Private Limited | ₹256.48 Cr (FY 2025) | •••• | •••• | •••• | Orang, Assam, India | |
| Fiserv Merchant Solutions Private Limited this company | ₹250.99 Cr (FY 2025) | •••• | •••• | -49.0% | •••• | Mumbai, Maharashtra, India |
| Skymit Rechargewale Private Limited | ₹239.94 Cr (FY 2023) | •••• | •••• | 21.0% | •••• | Ahmedabad, Gujarat, India |
| Parnav Online Solutions Private Limited | ₹237.81 Cr (FY 2025) | •••• | •••• | 18.0% | •••• | Kurukshetra, Haryana, India |
| Indmoney Tech Private Limited | ₹213.43 Cr (FY 2025) | •••• | •••• | 67.0% | •••• | Gurugram, Haryana, India |
| Phonomania E-Commerce Private Limited | ₹204.87 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | Ahmednagar, Maharashtra, India |
| Ap Money Private Limited | ₹203.5 Cr (FY 2025) | •••• | •••• | 48.0% | •••• | Malegaon, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Fiserv Merchant Solutions by revenue in the BFSI industry (Payment Solution Providers), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions Private Limited is audited by Walker Chandiok & Co LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Walker Chandiok & Co LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Fiserv Merchant Solutions Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Fiserv Merchant Solutions Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 31 Jul 2024 | Others | ₹4 Cr | Open |
Total charge records: 1 View all charges
Deals & Funding of Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions Private Limited has 3 deals on record (1 funding round, 1 convertible or debt financing, 1 secondary share transfer), with disclosed funding of ₹397.56 Cr; the latest was in March 2010.
Deals on record (2 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2009 | Secondary share transfer | Undisclosed | Buyer: First Data Holding 1 (Netherlands) BV Seller: 2 individuals |
| Dec 2009 | Funding round | ₹187.19 Cr | Investors: First Data Holding 1 (Netherlands) BV, Icici Bank Limited |
Full deal history
All 3 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions Private Limited has 19 court cases on record: 3 filed by Fiserv Merchant Solutions, 12 filed against it, 4 where it is another party. 6 cases are pending and 13 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 16 | 10 | 6 |
| High courts | 3 | 2 | 0 |
Cases on record (5 of 19)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Commercial matter | Filed against the company by Cashfree Payments India Private Limited | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Commercial suit | Filed by the company against Wisdom IT Services India Private Limited | Pending |
| District court, Ludhiana, Punjab | Appeal | Filed against the company by Vci Hospitality Limited | Pending |
| District court, West, Delhi | Commercial suit | Filed against the company by Ezee Flights Travel Private Limited | Disposed |
| District court, North Twenty Four Parganas, West Bengal | Civil suit | Filed against the company by Dharitri Infraventure Private Limited | Disposed |
Full case history
All 19 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME Payment Delays by Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions Private Limited has 5 MSME Form 1 returns on record between 2023 and 2024, listing 507 overdue payments to 37 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 37)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Green Lava Eco Solutions Private Limited | •••• | •••• | •••• |
| Aaron Tours Pvt Ltd | •••• | •••• | •••• |
| Securesearch Screening Services Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Arts Express Solutions Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 5 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions Private Limited has a workforce of 25 employees as of Apr 08, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions Private Limited has 26 board changes on record since 2009: 4 appointments and 22 cessations. The latest: Haribandhu Patra ceased to be Additional Director on 28 Sep 2025.
18 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Fiserv Merchant Solutions Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Fiserv Merchant Solutions Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions has 15 GST registrations: 9 active and 6 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCP1216R1Z3 | Maharashtra | Active | 01 Jul 2017 |
| 27AAFCP1216R2Z2 | Maharashtra | Active | 10 Mar 2025 |
| 29AAFCP1216R1ZZ | Karnataka | Active | 01 Jul 2017 |
| 33AAFCP1216R1ZA | Tamil Nadu | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Fiserv Merchant Solutions Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Fiserv Merchant Solutions Private Limited
Fiserv Merchant Solutions is an active private limited company based in Mumbai, Maharashtra, India. The company works in digital payment solutions, within the financial services industry. It was incorporated on 28 July 2009 (17+ years old) and is registered under CIN U74140MH2009PTC194399.
Fiserv Merchant Solutions reported revenue of ₹250.99 Cr for FY 2025 (down 49% YoY).
Fiserv Merchant Solutions has 4 current directors:
- Murali Rajashekaran Nair - Director
- Rajan Verma - Director
- Vikas Bhauwala - Nominee Director
- Haribandhu Patra - Director
Fiserv Merchant Solutions reported a net loss of ₹564.13 Cr (net margin -224.8%) and EBITDA of -₹489.81 Cr (EBITDA margin -195.2%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Fiserv Merchant Solutions is -23% over three years and -16% over five years. In the latest year (FY 2025) revenue fell 49%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Fiserv Merchant Solutions is 27AAFCP1216R1Z3, registered in Maharashtra. The company has 15 GST registrations in all, of which 9 are active and 6 are cancelled or inactive. Other active GSTINs include 27AAFCP1216R2Z2 (Maharashtra), 29AAFCP1216R1ZZ (Karnataka), 33AAFCP1216R1ZA (Tamil Nadu).
The CIN (Corporate Identification Number) of Fiserv Merchant Solutions is U74140MH2009PTC194399. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Fiserv Merchant Solutions has 19 court cases on record: 3 filed by the company and 12 filed against it. 6 are pending. Most are in the district courts.
Fiserv Merchant Solutions was incorporated on 28 July 2009, making it 17+ years old. It is registered with the Registrar of Companies, Mumbai.
Fiserv Merchant Solutions has 3 deals on record (1 funding round, 1 convertible or debt financing, 1 secondary share transfer), with disclosed funding of ₹397.56 Cr; the latest was in March 2010.
The peers of Fiserv Merchant Solutions by revenue are Payswiff Solutions Private Limited, Desiderata Impact Ventures Private Limited, Knockus Services Private Limited, Ola Financial Services Private Limited, Mobirec Private Limited and 5 more, all in the BFSI industry (Payment Solution Providers).
Haribandhu Patra ceased to be Additional Director on 28 Sep 2025. Haribandhu Patra was appointed as Director on 07 Aug 2025. Vikas Bhauwala ceased to be Nominee Director on 21 Apr 2025. Fiserv Merchant Solutions has 26 board changes on record in total.