“The government created some kind of a mish-mash of Paypal and Gmail — where I can give you my email address, and you could pay me,” said Bose. “There’s infrastructure here that’s exploding the payment options in a way that’s probably five years ahead of the U.S. already,” he said.

The company has 100 million mobile wallet users and is number 16 on the CNBC Disruptor 50 list.

Bose said the architecture of India’s payment infrastructure is fundamentally different than the U.S. “In the U.S., payment companies … make money through transactions. In emerging markets there’s basically no margin there. We had to transform payments into a software business,” said Bose.

The U.S. already had the infrastructure provided by credit cards, but that as a developing country India was starting from scratch, he said. “What we’ve done is not only enable cards, but we have one hundred million active wallet users,” said Bose.

Ezetap has already processes $1.5 billion in annualized transaction value and is expected to surpass $3 billion this year.

More from CNBC Disruptor 50:

Disruptor # 16 Ezetap

Meet the 2017 CNBC Disruptor 50 companies

Spotting the next Facebook: How we picked the 2017 CNBC Disruptor 50