AvenuesAI Limited — Q3 FY26 earnings call

So it integrates within the MCPs of all different payment aggregators and not just CCAvenue. So it auto routes transactions for success probability. It predicts the fraud, it disputes, it optimizes all the checkout flows and it negotiates routing and settlement logic and automates all this merchant reconciliation and collections. So theoretically, the way to think about it is this payment is actually moving to a decision -- infrastructure decision layer.

Analyst sought to quantify the market for PayCentral; management explained its broad AI-driven function beyond a simple payment gateway and its potential to command a significant share of transaction flows.

Asked by Mohit Jain

So basically, Al is intelligent routing. So when we get a particular failure from a particular bank, right, and then we have the ability to route it through multiple other banks that we are working at in the back end. So intelligent AI-based system that we have implemented, which gauges on the success rate going down to as back as just the last 5 minutes, which calculates the best success rates, it can be intelligently routed through this thing.

Analyst probed the sustainability of AI-driven improvements; management clarified the dynamic, model-driven nature of their AI routing for success rate and fraud detection.

Asked by Deepesh Sancheti

So somewhat -- the strength lies in activating all the existing enterprises and consumer base and deepening the engagement and enabling the entire ecosystem with payments and AI services. And so I mean, for us, RediffOne is less about the short-term revenue and more about building the structural control layer that somewhat underpins our long-term monetization strategy, if that makes sense.

Analyst asked for specific numbers on RediffOne adoption; management emphasized its strategic role as a foundational layer for long-term ecosystem lock-in and monetization rather than immediate revenue.

Asked by Pranav Mashruwala

And so I mean, where the agent comes in, in the offline payments is that rather than just the merchant receiving money, the agent can actually handle the context of the transaction, which means that it can decide what option to use as a payment routing. It can maximize the success rate, detect fraud, identify all the unusual transaction sizes, personalize the transaction by triggering certain workflows and somewhat automate collections as well.

Analyst questioned the strategic value of the offline license; management explained how AI agents transform offline payments into intelligent decision engines, enhancing efficiency and value.

Asked by Darshil Pandya

So the question is that -- I mean, of course, the 2 brands that we have right now is CCAvenue and Rediff. And the core for us is payments. So I mean, if the question is that are you focusing on too many areas? I think these are all related areas. And that somewhat completes our flywheel, the one that we have set out to architect.

Analyst raised concerns about potential dilution of focus; management clarified that new layers are integrated and form a cohesive ecosystem, not disparate initiatives.

Asked by Dhwani Chanda

But see, our core principle, if you ask us, is that -- I mean, our guardrails is not about stopping investments. We just want to make sure that whatever we spend will help us in terms of advantage or some platform advantage, if not today, tomorrow. So our guardrails for ROI is not short-term thinking.

Analyst sought clarity on investment discipline; management articulated a long-term, strategic ROI philosophy focused on platform advantage and unit economics rather than short-term returns.

Asked by Dhwani Chanda

Yes. I think the midpoint of that guidance range would, of course, be achievable in our opinion. And we have been appropriately conservative. We would like to if we are doing and if we find that we are doing better and larger, which is reasonable to also assume we'll be investing more in branding, marketing and some of the other activities. So it's reasonable to assume that we'll end up somewhere in the midpoint.

Analyst challenged the implied Q4 run rate from the revised guidance; management confirmed conservatism, suggesting potential for outperformance but also further investment.

Asked by Amish Kanani

Yes. So the way to think about so for us, see, listen, as far as the net take rate is concerned, in absolute terms, you're right, we've actually -- the net take rate has gone down. But that's a deliberate investment in scale and data density for us because payments are increasingly a gateway to higher-value financial intelligence service. ... So look, if and when UPI becomes chargeable, it's going to be beneficial to all the players, including us.

Analyst questioned revenue growth dynamics and a future regulatory change; management explained strategic reasons for net take rate and viewed potential UPI chargeability as a positive for the company.

Asked by Amish Kanani