Aerospike, Inc. (“Aerospike”), a leading database solutions provider, and Mindgate Solutions, a pioneer in payments technology and transaction processing, are partnering to enhance real-time payment (RTP) systems for India’s financial services sector. This collaboration expands Aerospike’s category leadership in the payments market by providing fast, smooth transaction capabilities to customers worldwide.
As the digital payment landscape continues to evolve, consumers and businesses are increasingly relying on seamless, secure, and real-time transactions. Mindgate Solutions is at the forefront of this revolution, with over 7 billion digital payments processed monthly and approximately 50% of UPI transactions routed through some of its leading partner banks.
Aerospike’s real-time database delivers the high throughput, sub millisecond transaction response times, and massive scalability that modern digital payment systems require to enable a high quality customer experience. The integration of Aerospike with Mindgate’s comprehensive real-time payment solutions offers unparalleled efficiency and reliability to the payments sector.
Key Benefits of the Partnership
- High Resiliency: Reduces dependency on Relational Database Management Systems (RDBMS), ensuring uninterrupted service even during high transaction volumes.
- Cloud Agnostic: Offers multi-cloud and on-premises deployment options for flexible and scalable solutions.
- High Throughput: Enables higher transactions per second (TPS) to support the growing demand for digital payments.
- Low Latency: Provides better transaction response times for an enhanced user experience.
- Active-Active Geo-Distributed Application: Ensures continuous availability and disaster recovery across multiple geographic locations.
- Scale on Demand: Facilitates linear scalability to meet the increasing demand without compromising performance.
Commenting on the partnership, Aveekshith Bushan, Vice President and GM, Asia Pacific and Japan, Aerospike, said, “We are thrilled to partner with Mindgate Solutions and support the rapid growth of India’s digital payment ecosystem. Our real-time data platform is uniquely positioned to handle the demands of modern payment systems through superior performance, high availability and extreme scale. Together with Mindgate, we are redefining the future of digital payments in India.
Since partnering with Aerospike, Mindgate Solutions has achieved significant milestones, including a remarkable 25% increase in transaction throughput. This collaboration has also enabled the seamless handling of billions of digital payments per month as mentioned above, further solidifying Mindgate’s position as a leader in India’s digital payment ecosystem.
“Partnering with Aerospike allows us to push the boundaries of what’s possible in real-time payment processing. With Aerospike’s high throughput and low latency database, we can offer our clients enhanced performance, ensuring faster and more reliable transactions. This partnership is a significant step towards building a robust digital payments infrastructure that will drive economic growth and inclusion,” said Mr. George Sam, Co-founder and Business Head at Mindgate Solutions.
With the Indian digital payments market poised for exponential growth, the collaboration between Aerospike and Mindgate Solutions represents a crucial milestone in the journey towards a more connected and digitally empowered India.