Make My Payment Shark Tank India Episode Review
App Information
- App:- Make My Payment
Founders
- Make My Payment was co-founded by Vijay Nihalchandani, who is dedicated to providing innovative solutions for payment recovery.
- He was accompanied by his wife, brother, and business partner during the pitch on Shark Tank India.

Brand Overview
- Make My Payment is a financial technology startup based in Ujjain that offers an automated payment reminder system designed to help businesses collect outstanding debts.
- The app aims to simplify the debt collection process by sending reminders to defaulting debtors, making it easier for creditors to manage their receivables.

Shark Tank India Appearance & Ask
- During their appearance on Shark Tank India, the founders sought an investment of ₹30 lakh for 3% equity, valuing their company at ₹10 crore.
- They presented their app’s features and the potential market for automated payment reminders, emphasizing its utility for businesses facing challenges in collecting overdue payments.
Season and Episode Air Date
- Season: 04
- Episode: 15
- Episode Air Date: Friday, 24 January 2025
Product Overview
Make My Payment offers several key features:
- Automated Reminder System: Sends reminders to debtors automatically.
- Multi-Channel Communication: Utilizes various channels to reach out to defaulting clients.
- Debt Tracking Mechanisms: Helps businesses keep track of outstanding payments efficiently.
Investor Reactions
Investor reactions during the pitch were largely negative:
- Namita Thapar: Criticized the concept, arguing that an automated voicemail would not compel defaulters to pay.
- Anupam Mittal: Expressed disbelief in the business’s effectiveness and suggested that it might be better to pursue other ventures.
- Peyush Bansal: Questioned the founders about their revenue generation and expressed skepticism regarding their claims.
Customer Engagement Philosophy
Make My Payment engages its customers through:
- Community Building: Creating a network of users who can share experiences and tips on debt recovery.
- Feedback Mechanisms: Actively seeking input from users to improve app functionality and user experience.
- Educational Resources: Providing guides on effective debt collection strategies and best practices for using the app.
Product Highlights
Key highlights of Make My Payment’s offerings include:
- Efficiency: Automates a traditionally manual process, saving time and effort for businesses.
- User-Friendly Interface: Designed for ease of use, allowing businesses to manage payments effortlessly.
- Cost-Effective Solution: Offers a more affordable alternative to traditional debt collection methods.
Future Vision
The founders aim to expand Make My Payment’s reach while continuously improving their product. Their vision includes:
- Enhancing app features based on user feedback and technological advancements.
- Exploring partnerships with financial institutions for broader integration.
- Expanding marketing efforts to increase brand awareness among potential users.
Deal Finalized or Not
- The deal was not finalized as the sharks made no proposals after the pitch.
- Anupam Mittal notably criticized the business model, stating that it lacked viability, while Namita Thapar expressed concerns about the effectiveness of automated reminders for debt collection.
Category | Details |
---|---|
App Name | Make My Payment |
Founders | Vijay Nihalchandani (co-founder), accompanied by wife, brother, and business partner |
Brand Overview | A fintech startup based in Ujjain, offering an automated payment reminder system for businesses to collect outstanding debts. |
Shark Tank India Appearance & Ask | ₹30 lakh for 3% equity (₹10 crore valuation) |
Season and Episode Air Date | Season 04, Episode 15, Air Date: Friday, 24 January 2025 |
Product Overview | Key Features: Automated reminder system, multi-channel communication, debt tracking mechanisms |
Investor Reactions | Namita Thapar: Criticized the concept; automated voicemails might not be effective. Anupam Mittal: Disbelieved in the business’s effectiveness; suggested alternative ventures. Peyush Bansal: Questioned revenue generation; skeptical about claims. |
Customer Engagement Philosophy | Community building, feedback mechanisms, educational resources on debt recovery |
Product Highlights | Efficiency, user-friendly interface, cost-effective debt recovery solution |
Future Vision | Expand reach, improve app features, partner with financial institutions, increase brand awareness |
Deal Finalized? | No deal; investors remained unconvinced. |
Business Potential in India | Digital payments market projected to reach ₹7,092 billion ($88 billion) by 2025, growing at 20% CAGR. |
Total Addressable Market (TAM) | Estimated at ₹1,000 Crores ($120 million), focusing on SMEs and freelancers. |
Ideal Target Audience | SMBs, freelancers, service providers (ages 25-50, tech-savvy, dealing with overdue payments). |
Marketing Strategy | Digital marketing (LinkedIn, Facebook), partnerships with accounting software providers, SEO optimization. |
Distribution Strategy | Direct sales via website, partnerships with accounting firms and business consultants. |
Advantages | Efficiency, user-friendly interface, cost-effectiveness. |
Challenges | Market education, competition, user adoption. |
Reasons for Potential Success | Growing digitalization trend, automation appeal, cost-effective alternative. |
Mitigation Strategies | Customer education programs, quality assurance, user feedback integration. |
Future Business Vision | Feature enhancements, financial institution partnerships, wider marketing efforts. |
Roadmap to Increase Valuation | 2025: Brand development campaigns 2026: Geographic expansion to Tier 2 cities 2027: Product diversification (CRM integration, analytics) 2028: Strategic fintech partnerships |
Make My Payment Shark Tank India Business Plan

Business Potential in India
- The digital payments market in India is projected to reach ₹7,092 billion ($88 billion) by 2025, growing at a CAGR of 20% from 2020.
- With the increasing adoption of digital payment methods and the rise of fintech solutions, the demand for efficient debt recovery systems is also on the rise.
- The growth of small and medium enterprises (SMEs) in India provides a significant market for payment recovery solutions.
Total Addressable Market (TAM)
- The total addressable market for automated payment reminder solutions in India is estimated at around ₹1,000 Crores ($120 million), focusing on SMEs and freelancers who often face challenges in collecting payments.
- This market includes potential users across various sectors, including retail, services, and e-commerce.
Ideal Target Audience and Demographics
- Target Audience: Small and medium-sized businesses (SMBs), freelancers, and service providers.
- Demographics:
- Business owners aged 25-50 who are tech-savvy and seek efficient solutions for managing receivables.
- Industries such as retail, consulting, and e-commerce that frequently deal with overdue payments.
Marketing Strategy
- Brand Positioning: Position Make My Payment as a user-friendly and effective solution for debt recovery that saves time and effort for businesses.
- Channels: Focus on digital marketing channels, particularly social media platforms like LinkedIn and Facebook to reach business owners.
- Partnerships: Collaborate with accounting software providers to offer integrated solutions that include payment reminders.
Content and Digital Marketing Strategy
- SEO Optimization: Improve website SEO performance to attract organic traffic from potential users searching for debt recovery solutions.
- Content Creation: Develop blog posts, case studies, and infographics that educate users about effective debt collection strategies and the benefits of using automated reminders.
- Social Media Engagement: Utilize social media to share success stories from users of Make My Payment and provide tips on managing receivables effectively.
Distribution Strategy
- Launch through direct sales via the official Make My Payment website.
- Explore partnerships with accounting firms and business consultants who can recommend the app to their clients.
Advantages
- Efficiency: Automates a traditionally manual process, saving time and effort for businesses in managing payments.
- User-Friendly Interface: Designed for ease of use, allowing businesses to manage reminders effortlessly.
- Cost-Effective Solution: Offers a more affordable alternative to traditional debt collection methods.
Challenges
- Market Education: Building awareness about the benefits of automated payment reminders among potential users is crucial.
- Competition: Competing against established players in the fintech space requires differentiation.
- User Adoption: Convincing businesses to adopt a new system can be challenging, especially if they are accustomed to traditional methods.
Reasons for Potential Success
- The increasing trend towards digitalization in business processes positions Make My Payment favorably within a growing market.
- Its unique selling proposition of automating reminders appeals to businesses looking for efficiency.
Mitigation Strategies
- Customer Education Programs: Conduct webinars and workshops to educate potential customers about the benefits of using Make My Payment.
- Quality Assurance Measures: Implement stringent quality control measures to ensure product reliability and user satisfaction.
- Feedback Loop: Actively seek feedback from users to continuously improve app functionality based on their needs.
Future Business Vision
The founders aim to expand Make My Payment’s reach while continuously improving their product. Their vision includes:
- Enhancing app features based on user feedback and technological advancements.
- Exploring partnerships with financial institutions for broader integration into existing systems.
- Expanding marketing efforts to increase brand awareness among potential users.
Roadmap to Increase Valuation
Brand Development (2025):
- Launch nationwide campaigns highlighting Make My Payment’s unique offerings through digital platforms.
Geographic Expansion (2026):
- Target Tier 2 cities across India through partnerships with local business associations.
Product Diversification (2027):
- Introduce additional features such as integration with CRM systems or advanced analytics tools for better financial management.
Strategic Partnerships (2028):
- Collaborate with fintech companies or government programs promoting digital adoption among small businesses.
Through these strategic initiatives, Make My Payment aims to solidify its position as a leading player in India’s fintech landscape while enhancing its valuation over time.
In summary, the pitch for Make My Payment highlighted its innovative approach to payment recovery through automation. Despite facing significant challenges during their Shark Tank appearance, including skepticism from investors regarding market readiness and business viability, the founders remain committed to refining their solution and expanding their market presence in the fintech landscape.