Business EconomyPosted at: Oct 5 2025 5:15PM


TMB inks pact with Wegofin Digital for payment aggregator business

Thoothukudi (Tamil Nadu), The Tamilnad Mercantile Bank (TMB) has announced a strategic partnership
with Wegofin Digital Solutions Pvt. Ltd., a leading fintech innovator, to revolutionize digital banking and
financial services for businesses across India.
This collaboration marks a significant milestone in TMB’s digital transformation journey, introducing
Banking-as-a-Payment Aggregator (BAPA) to empower MSMEs, startups, and enterprises with cutting
edge financial solutions, a TMB release said.
Wegofin, a next-generation fintech platform offering integrated solutions for banking, payments,
accounting, and compliance, will serve as a Technology Service Provider (TSP) for TMB. Through
this partnership, TMB will strengthen its role as a trusted banking partner, while enabling seamless
UPI merchant acquiring, automated payouts, fraud risk management, and compliance-driven financial
operations.
The key highlights of the partnership included Launch of AcquireX and DisburseX Platforms--TMB will
leverage Wegofin’s RBI-compliant SaaS platforms to onboard merchants, automate bulk disbursements,
and streamline UPI transactions with real-time settlement and reconciliation; AI-Powered Risk Engine--
With an industry-leading fraud detection accuracy rate of 83.21% and sub-minute flagging, Wegofin’s
tools will enhance TMB’s security, compliance, and operational resilience.
This partnership will not only help drive CASA growth but also unlock new non-interest income streams
for the bank, cementing TMB’s leadership in digital-first banking.
TMB MD and CEO Salee S Nair said, “This partnership with Wegofin marks a pivotal step in TMB’s
journey of transformation in the digital space. By embracing the BAPA model, we are strengthening
our ability to serve businesses of all sizes with innovative, secure, and scalable financial solutions".
"Our goal is to reimagine banking for the modern enterprise and extend the benefits of technology-
driven financial services to every corner of India", HE SAID.
Wegofin Founder and CEO Prabhu Kumar said “We are delighted to collaborate with TMB, a trusted
and legacy name in Indian banking system, to advance financial inclusion and digital adoption. This
partnership is a leap forward in building smarter, compliance-focused financial ecosystems that
empower enterprises.”
This collaboration underscores TMB’s long-term commitment to combining traditional banking
strengths with modern fintech innovations. By adopting the BAPA model, TMB is well-positioned
to drive digital adoption, broaden financial access, and strengthen its role as a future-ready bank
supporting India’s growing digital economy.
UNI GV 1710
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