CEO Insights Magazine

In today's rapidly evolving technological landscape, businesses are increasingly recognizing the importance of secure payment gateways to protect against fraud and ensure safe online transactions. This has led to significant growth in the global payment gateway market, which was valued at $26.79 billion in 2022 and is projected to grow at a CAGR of 22.2 percent from 2023 to 2030. This growth is driven by factors such as the rising demand for mobile-based payments, the increasing popularity of e-commerce, and the widespread adoption of digital channels for money transfers.

Aamarpay is a leading player in the online payment gateway and FinTech industry, catering to the payment needs of businesses of all sizes. Founded by Ishtiaque Sarwar under Soft Tech Innovation Ltd., Aamarpay aims to revolutionize online money management by offering user-friendly APIs, streamlining integration processes, and providing fast, secure, and costeffective payment solutions. Their flagship product, the Aamarpay App, delivers an exceptional B2C super app experience. With a dedicated and skilled team, Aamarpay excels in delivering FinTech solutions and offers favorable pricing options for small and medium-sized enterprises. The company places a strong emphasis on security and compliance, holding PCI-DSS Level-1 compliance, ISO27000-1 certification, a PSO License from the Central Bank of Bangladesh, and membership in ECAB & BASIS. They ensure data security through industry-standard SSL protocols. To gain deeper insights into Ishtiaque Sarwar's commitment to growth and innovation, let's dive into an exclusive one-on-one interview with him.

Give a brief account of your professional journey.

After completing my computer science and information technology degree at the Southern University of Bangladesh, I defied societal pressure to pursue a stable career path and founded my own IT company, Software Innovation Limited, in 2005. I explored online marketplaces to attract clients and honed my business skills through various job roles. In 2012, recognizing the need for a local payment gateway in the e-commerce sector, I developed one, which launched successfully in 2015. Since then, I have expanded my business to include e-commerce and fintech, with the guidance of the Alibaba Group in 2018.

Could you tell me about the unique experiences the National University of Singapore offers and what did you learn from the campus beyond academics?

While studying at the National University of Singapore, I came across a captivating minicourse on FinTech that offered the comprehensive knowledge I had been seeking. With my background in computer science and transition into a technology entrepreneur, I saw this course as a potentially lifechanging opportunity. It covered essential topics like  Payments, blockchain, cryptocurrencies, ideation, execution, and regulatory perspectives. Meeting my lecturer during the Singapore FinTech Festival further fueled my interest, as the course proved highly engaging and valuable. It fundamentally transformed my mindset, equipping me to approach FinTech innovations, regulations, and the move toward a cashless society more effectively. I am grateful for the empowerment and insights gained from this course.

Define Aamarpay as an organization and its position in the financial services market.

Aamarpay is a well-known FinTech company that specializes in online payment gateways, offering comprehensive and secure payment solutions for businesses. With a strong emphasis on seamless transactions, Aamarpay revolutionizes online payment management. It stands out in the financial services market by providing innovative payment gateway services and ensuring a user-friendly experience. The Aamarpay Super App, their flagship product, offers a comprehensive digital financial service experience. Backed by a dedicated team and a commitment to security and compliance, Aamarpay is a trusted partner for businesses seeking efficient and secure online payment processing.

Tell us about your leadership approach and what guidelines or methodologies you follow to lead your team.

I believe in a democratic approach, empowering my core management team to make independent decisions. We have grown from a small office to a modern workspace, focusing on the FinTech industry. I inspire my team to be innovative, and integrative, and implement ideas effectively. We prioritize integrity and collaborate with partners to gain an advantage. My team is empowered to make decisions, seeking my input only on critical matters.

Where do you see yourself headed in the upcoming years? What is your future roadmap?

My roadmap for the upcoming years is focused on the launch and growth of our Super App, which aims to provide a comprehensive digital financial service experience. We're currently in the soft launch phase and offering mobile recharge, bill payments, insurance, food, parcel, tracker & flight reservations. I'm confident that our Super App has the potential to be a standout in the market and we're committed to investing in its development and growth.

What is your advice to budding leaders while hacking new opportunities going forward?

Entrepreneurs require essential qualities such as persistence, patience, creativity, and goal orientation. Although not every unique idea may succeed, striving for innovation is crucial. Priorities include maintaining high service standards, meeting commitments, and nurturing confidence and self-motivation. These are not extraordinary traits but rather qualities that everyone should develop within themselves.

Ishtiaque Sarwar, Founder & Managing Director, Aamarpay Dhaka

Ishtiaque Sanwar is a renowned entrepreneur in the FinTech industry, known for his visionary leadership and commitment to innovation. With a background in computer science, he has successfully founded and led multiple ventures, revolutionizing the online payment landscape and driving digital transformation.