Pragati Capital is now updated with Digital Gold

01 Blog 15 Nov Main

Gold is one of the oldest commodities we trade in, a precious metal that hasn’t lost its value over many centuries and it hardly ever will. A metal with intrinsic value that is a crucial part of daily lives to the economic stability of the country. We all invest in gold. Some hope to earn profits and some purchase it intentionally as an asset of value.

We at Pay1 are quite aware of the importance of gold in the investment scenario. Keeping that in mind we have launched Digital Gold in Pragati Capital. At just a touch of a button, the retailer can help the customer buy gold at the amount feasible to the customer. The minimum amount that the customer can invest in gold is just Rs 1, this gives our network an opportunity to promote the service better and also streamline the investments. As with any of our service the retailer earns commission on the first amount the customer invests.

There are numerous features of Pragati Gold that retail and customer can benefit from,

  • Minimum Investment value is just Rs. 1
  • Invested gold can be delivered to your doorstep
  • The gold is stored in absolutely secured and safe locker
  • The more the customer invest the more the retailer earns
  • Real-time tracking of profits and investments

02 Blog 15 Nov Features

The digital gold feature has amped up the usage of Pragati Capital. Today, a Pragati retailer has numerous options to gain financial independence via the Pragati platform. This update will help our retailers get more footfalls and increase the capabilities of the platform in Hinterlands. Digital gold because of its ease to access is a process-friendly service in which the user just has to add their Pan Card detail to start investing. Due to this the traction for the service in tier 2 and tier 3 market is already on the rise.

A hassle-free way to gold investment

  1. Open the Pragati Capital App – Click on “Gold”
  2. Register the customer’s detail and the OTP
  3. Type the price the customer wants to invest in gold

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As with any service in Pragati Capital, the digital gold creates opportunities to expand the potential of the Pay1 retailer. With Pragati Capital and multiple service updates lined up. A Pay1 shop today is a literal one-stop shop.

Diwali brings amazing earning opportunities to our ‘Offline Retail Network’

Blog post 6 nov

The festival of light proclaims prosperity and success, it brings an atmosphere of growth where every business tries their best to cash in on the festive season and grow. Our business model being symbiotic the only way for us to grow is when our agents and network upgrade and earn more income during the festivals. Keeping that in mind we already have launched gamut of services that will equip and enable our retailers and help them secure their future and give them opportunities to grow.

Diwali begets the rise in online sales of apparels and electronics. A traditional offline retail shop normally suffers a lot due to not being able to compete with the online organised retail platforms. Today we prefer online platforms not because we get offers which normally are just a marketing tool to attract more customers but mainly because of the convenience of payment, EMI options and home deliveries. The rise of digital payments has changed the buying behaviour of customers, especially in urban and semi-urban areas. This brings together opportunities for the companies to track, monitor and analyse a person’s buying habits. Online retail forestalls the growth of offline in many ways but the tide is about to change.

A Pay1 retailer today can provide the same if not more services; by being a part of the Pay1 platform the merchant gets access to various services that help them help their customers avail better services. We are at a point where today if a merchant becomes a Pay1 merchant he/she will take the transactions entirely digital, avail personal loans or sell mutual funds and insurance and become a travel booking agent, provide mini atm services point or sell high end and in-demand products including mobile phones or mobile accessories at a competitive market price we have already written about this here. The hybrid of offline reach and the online retail market is how the retail sector in India is going to evolve. Online does not guarantee reach-ability but our platform does to our retailers/partner companies. We have created a perfect hybrid by taking the best from both the worlds and moulded it into a scalable Pay1 merchant platform.

This festive season, especially for the Pay1 retailer, has become profitable and it will continue to be so considering that we have only just begun. As we have mentioned before the retail market will evolve when the online and offline retail work together, the digital business integrated into the offline unorganised market has not only helped develop the Pay1 retailers but also the market they operate in.

This Diwali has been extremely good, to see our merchants progress the way they have and also some couple of service launches especially Digital gold’s which has been integrated on the Pragati platform. There are more services that are going to be launched soon which will bridge the gap between Offline and Online e-commerce retail market.

How being a start-up employee engagement becomes extremely crucial

2 nov blog main

Life at a start-up is dynamic, sometimes chaotic and muddled. Every day presents new challenges that the employees tackle efficiently and effectively. Running through a week piled up with work is taxing and as the weekend nears the office animates with the weekend plans. But for any company to function right it becomes necessary for start-ups like us to keep their employees engaged. The word ‘engagement’ for us means a lot more than team building activities. It is a constant process that includes creating a supportive work environment and pushing the boundaries of work by constantly challenging the employees and giving them opportunities to learn.

We are very proud of our employee retention rate which is almost 100%, there are things we follow to keep that rate consistently high.

1) Flat organisation

Keeping the employees involved in the decision making process and giving each and every employee a considerable chunk of responsibility critical to the functioning of the company is how we define our work environment. We hardly have any layers within the organisation. The employees are given the utmost freedom to experiment creatively and technically during the development phase of the product.

2) Promoting synchronisation

A ship sails smoothly on the seas only when the crew does their duty effectively and in sync with each other. The development of a product, marketing and sales are only effectual when the team is synchronised to the goal. The teams meet regularly to list out the intricacies that follow the development, marketing and how we can tackle the same.

3) Celebrating the smallest of things

A birthday celebration or a team lunch party or celebrating farewell’s with our interns, we celebrate the smallest of the things in the company. There are days when a mountain of work piles up, but there are also days when we wallow in downtime.

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4) Making best use of the time and resources

In a start-up resources are scarce and time scarcer, we have to make sure that the work that we plan for a certain week does not spill into other. We aim to reach checkpoints weekly before reaching our monthly goals.

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5) It is not always about work

We go for company picnics, revel in Garba celebrations and participate in carom tournaments. We believe in working hard but when it comes to occasions as such we don’t hold ourselves back.

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A company functions right when the employees are enthusiastic and dedicated towards the work and the vision the company aims to achieve. In a microwork environment of a start-up employee recognition also plays an important role, it is the peers within the team that inspire each other. Pay1 has a conducive work environment, the employees here are extremely passionate about their work and are eager to learn more and deliver better every time they come to work.

How Partnering up with Pay1 help companies reach their business goals…

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The course of the retail industry has changed dramatically in recent years. With increased awareness, flexible government policies favouring the retail especially the unorganised retail market and the rise in technology, the foundation of our retail economy previously ignored has started to strengthen. In India, at times value is where the volume is and nothing can be compared to the mammoth market share these unorganised retail stores have in the Indian economy. We have written about this inordinately in the past that to develop our economy we need to develop the Kirana stores.

Over the course of 2018, we have launched many services that have optimised the business of our retail network and increased their profitability. But the end line for us is not just the development of the unorganised retail sector rather a doorway to vast opportunities and creative business ideas. One of the many ideas is developed around partnering up with companies that are looking to achieve a wider reach in the markets undiscovered, as we have our network spread throughout the country and also in areas identified as a potential market.

 

The Advantages of Partnering with us

  • Wide-reaching network –

We have more than 50,000 retailers active on monthly basis, who are using various services. The strong point for us is the widespread reach that we are able to gain through these merchants. Our retailer base is spread to most of the corners of the country where traditional marketing mediums don’t always work. The Pay1 retailer acts as a channel to other companies to reach out.

 

  • Offline Branding –

Offline advertising is an important medium of communication for many companies. We make sure that the retail shops in our network optimally utilise their infrastructure. Third party companies can promote themselves via the Pay1 shop

 

  • Our retail network act as your sales agent –

Imagine having a sales team in 350+ cities spread out in various nooks and corners of the areas selling/promoting your product. Our retailer will act a satellite salesperson for the third party companies partnered with Pay1. Generating leads in areas where the companies will not be able to generate through traditional marketing mediums is quite possible via the Pay1 Platform.

 

  • Gainful Insights –

Demographic data, survey’s and transactional data help the partnered companies mould their marketing communication as per the data mined.

 

  • One of a kind platform –

The Pay1 Platform is constantly evolving, we have launched some of the most comprehensive services in the year 2018 and we plan to launch more products with more earning opportunities. The services currently launched not only help our retailer earn better but also gives a platform to third-party companies to sell their products. Pragati Capital, Shop1 and Pay1 Digi have given opportunities to many companies reach their sales goal.

 

The constant revisions on the platform develop better interactivity of the companies and the retailers and vice versa. The possibilities for business ideas are endless. Multinationals and start-ups get inexpensive marketing and product development solutions.

PAN कार्ड की उपयोगिता और अहमियत

 

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PAN कार्ड आज एक बेहद ज़रूरी और अहम दस्तावेज़ बन गया है जिसकी ज़रूरत तकरीबन हर जगह लगती है. इसकी ज़रूरत को देखते हुए Pay1 ने  PAN कार्ड सर्विस शुरू की है. इस सर्विस के द्वारा अब Pay1 रीटेलर्स ग्राहकों को PAN कार्ड बनाने मे उनकी मदद कर सकते हैं और हर कार्ड पर एक अच्छी ख़ासी फीस कमा सकते हैं. इससे दुकानदारों की आमदनी मे काफ़ी बढ़ोत्तरी होगी.

भारत सरकार ने सन 1964 मे PAN कार्ड की शुरुआत की थी जिसके द्वारा नागरिकों के आर्थिक लेनदेन, आय और टैक्स  ट्रांसजेक्शन्स की निगरानी और गणना हो सके. 55 साल बाद भी इसका शुरुआती उद्देश्य आज भी बरकरार है बल्कि आज PAN कार्ड की उपयोगिता और बढ़ गयी है. अब PAN कार्ड की ज़रूरत टैक्स  रिटर्न्स भरने, बैंक खाता खुलवाने और लोन लेने जैसे कार्यो मे पड़ती है. कई चीज़ों के बारे मे तो आमजन अभी भी जागरूक नही है.

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  1. वाहन-गाड़ियों की खरीद – अगर कोई व्यक्ति चार पहिया वाहन खरीदना चाहता है तो इसके लिए उसे PAN कार्ड की ज़रूरत पड़ेगी.
  2. ज्वेलरी- गहनों की खरीद – दो लाख से ज़्यादा ज्वेलरी- गहनों की खरीद पर PAN कार्ड नंबर देना पड़ेगा.
  3. निवेश – विभिन्न प्रकार के म्यूचुयल फंड, बॉन्ड, सिक्योरिटीज आदि जिनकी निवेश राशि 50000 रू से ज़्यादा है तो इसमे PAN कार्ड जमा करना बेहद ज़रूरी होगा.
  4. पहचान का प्रमाण – काफ़ी जगह PAN कार्ड को पहचान प्रमाण पत्र के तौर पर स्वीकार किया जाता है. ड्राइविंग लाइसेन्स और पासपोर्ट बनवाने मे PAN कार्ड आयु प्रमाण पत्र के तौर पर दिया जा सकता है.
  5. करेन्सी एक्सचेंज – किसी भी विदेशी करेन्सी के इंडियन करेन्सी के साथ एक्सचेंज के लिए PAN कार्ड ज़रूरी है.
  6. संपत्ति की खरीद – बिक्री पर – संपत्ति की खरीद बिक्री पर PAN कार्ड की ज़रूरत पड़ेगी.
  7. फिक्स्ड एवं कैश डिपोजिट – किसी भी प्रकार के कैश डिपोजिट जिनकी निवेश राशि 50000 रू या उससे ज़्यादा है तो PAN कार्ड की कॉपी देनी पड़ेगी.
  8. इंश्योरेन्स प्रीमियम के लिए – इंश्योरेन्स प्रीमियम की भुगतान राशि अगर 50000 रू से ज़्यादा है तो वहाँ पर PAN कार्ड विवरण देना होता है.

PAN कार्ड के कई कारोबारी और व्यक्तिगत फ़ायदे हैं पर अभी भी बहुत सारे भारतीय इसके फ़ायदों  से दूर् है क्योंकि उन्हे PAN कार्ड की पूरी तरह से जानकारी नही है. PAN कार्ड सर्विस लाने का हमारा प्राथमिक उद्देश्य लोगों को जागरूक करना और उनकी जानकारी बढ़ाना है ताकि आमजन ज़्यादा लाभ ले सकें. Pay1 रीटेलर को भी इस सर्विस का बेहद फ़ायदा मिलेगा. यह सिर्फ़ एक सर्विस नही है बल्कि रीटेलर्स की आमदनी बढ़ाने का एक अच्छा माध्यम है. PAN कार्ड सर्विस के द्वारा रीटेलर अपने ग्राहकों के PAN कार्ड बनाने मे उनकी मदद कर सकते हैं और उनकी ओर से PAN कार्ड के लिए आवेदन कर सकते है.

The Importance of PAN Card

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The PAN Card acronym for Permanent Account Number is an identity card that we all have but apart from a simple KYC document hardly do we know the full extent of its importance. We recently launched the PAN card service which facilitates simplicity of its creation to the general public. Pay1 merchants will now be able to assist their customers in issuing the PAN card on a basic fee; this will also help the same merchants to earn more commissions on the same.

The government of India started publishing the PAN Cards in the year 1964 and one of the Primary purposes of the PAN card was to reduce tax evasion and help the government better track monetary transactions of the citizens of India. The primary motive of PAN Card remains the same even after 55 years of it being in the market. But there are other uses of the service apart from filing tax returns, bank account opening or loan application that many of us are not aware of.

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  1. Purchasing of Vehicles – Any person is planning to purchase a 4 wheeler it becomes necessary for the person to present his/her PAN Card.
  2. Purchase of Jewellery – While buying jewellery which costs more than 2 lakhs, it is mandatory for the person to present the PAN Card during the purchase.
  3. Investments – Investing in securities, mutual funds, bonds and debentures with the transaction of more than Rs 50,000 will require PAN Details.
  4. Identity Proof – The PAN Card is a widely accepted proof of identity. Creation of Driving License or Passport etc. optionally requires a PAN Card.
  5. Currency Exchange – Any foreign exchange with Indian currency will require PAN card details.
  6. Renting/Selling/Buying a Property – Anything in relation to the aforementioned point needs a proof of PAN Card.
  7. Fixed and Cash Deposit – Any deposits valuing more than Rs 50,000 or above will require a PAN Card Copy.
  8. Payment of Insurance premiums – Payment made towards Insurance premiums that are exceeding more than Rs 50,000 requires PAN details.

There are many use cases of PAN Card for businesses and an individual alike but as with many identity cards, many Indians are bereft of the benefits that these ID cards provide. The Primary motive for us to introduce PAN Card service is to create awareness of it specifically in the markets where the importance of such IDs has not been understood to its full extent. Pay1 Merchants will facilitate the promotion of the PAN Card service in such markets. This will not only add one more service to the collection of a wide range of services that the Pay1 merchant has but will also help them earn more commissions.

We will have more communication on the benefits of the PAN Card service for the retailers in detail in the near future, along with the benefits of the other services that we are planning to launch in the coming months.

The Future of Unorganised retail: The fusion of technology, offline retail, and buyer preference has given offline a comeback in a new avatar.

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Could the wave of the future be a dig from the past? In the 1970’s and thereabouts, the delivery of grocery and other staples was a dominant part of the culture in countries like North America and Europe. In India, for example, the door to door delivery of milk, vegetables, and home-cooked meals has never really fallen out of fashion. Across the globe, we are seeing a replication of this model with some modification – the resurgence of the home-delivery system with a revision. Now consumers are not just placing orders over the phone, or going to the store, choosing their order and getting it delivered home- now the consumer places order to a faceless system by pulling up the retailer’s webpage or using their mobile app. The same home delivery, same phone but a different underlying technology!

The Indian retail is a perfect of adoption of this revised business model serving well the tech-savvy, time-crunched millennial as well as the older generation living a comfortable retirement and do not wish to go shopping every few days of the week.

The unorganized retail sector is the newest entrant to technology savvy revised business model. So far underpowered, the adoption of the internet to attract, retain and acquire customers has increased intensified the battle for footfalls or clicks on the offline stores and e-commerce sites respectively. The retailers have readjusted their business to ride the digital wave.

Fuelling the changes of converting the Indian unorganized retail into the digital ecosystem is the cheap and ubiquitous internet and the penetration of the smartphones. The internet access to the price-sensitive Indian consumer and low customer acquisition cost helps the offline retailer to offer a better value proposition to its customers in comparison to its digital and organized competitors.

What is has online shopping picked pace in India? And why has offline retailer adopted technology and replicating online conveniences? The increase in affordability, accessibility, and awareness are the underlying factors to this shift.

The primary change in affordability has come because of the increased connectivity to large towns where people hop in search of non-agrarian employment. Since the income from non-agrarian employment is at least 10% higher than the farm income, the consumer’s with non-agrarian jobs have higher disposable income. Converting this affordability into expenditure is the awareness factor. With the penetration of mobile phones, Direct-To-Home satellite broadcasting channels, cheap mobile data, and ubiquitous internet, the consumer is aware of what’s available outside the local market. This awareness emanates into adoption and consumption of new categories of products.

The rapid urbanisation and high population density make the home delivery model economically viable, particularly when coupled with low labour costs, as is the case in India. A small factor affecting India’s food industry to shift online is the concern of the new age consumers on food safety, hygiene and the surge of organic foods.

Internet penetration has also allowed the brick and mortar stores to offer a great selection of products across categories, by using virtual catalogues, use data to forecast demand and offer customized delivery options. The emergence of a grocery store into a health and wellness store or an electronics store into a durable goods insurance agent have fused the lines of business scope.

Will the virtual replace real? Will the clicks replace footfalls? Not any time soon.  Other than the obvious convenience of visiting a nearby store to fulfil the need for immediate consumption, offline retail stores have a powerful sensory experience. The Indian shopper, for example, considers shopping as an entertainment activity also. Thus becoming a retailtainment. The smell of ripe mangoes, the fragrance of fresh flowers, and the texture of the fabric are virtually impossible to replicate.

This is the basis of the marriage of digital and offline retail sector, resulting in indulgence and thrill of discovery of unknown and unplanned items on the shelf.

We are witnessing a return of the old – repetition with some modification.

 

The new rules of the old game: How Indian Kirana is changing to keep ahead of the times.

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Indian retail is currently running at its highest speed. It is the largest among all industries accounting to 10 percent of the country’s GDP and employs around 8 percent of the workforce. The rapid digitisation, urbanisation and increase in disposable income have acted as a booster shot to Indian shopper’s appetite and avenues to spend.  The increase in the number of shoppers has also led to a revolution in terms of format and consumer buying behaviour. From stand-alone unorganised retail outlet, to supermarkets, shopping centers and multi-storied malls providing shopping, food and entertainment, Indian retail consumption has come light years ahead.

As a matter of fact, India is a power to reckon with not only in terms of its retail spending capacity but also as the world’s top sourcing destination.  Thus Indians are the suppliers as well as buyers of products and services from across the globe.

Some of the most significant changes due to the accelerated growth of the Indian retail industry have been witnessed in the unorganised offline retail industry. Increasing penetration of smartphones, the momentum of digital India drive, GST and demonetisation have paved the way for digital transformation for India’s most unorganised (kirana) sector. While there are many new players in the retail industry, they still cannot outwit the presence and dominance of the neighbourhood stores.  The factors like proximity, long-standing relationships, free home deliveries, easy return and exchange, credit system and personalised attention on each customer’s needs are some of the advantages a big format retail store cannot replicate.

While the lure of Kirana store withstanding, the small shop owners and kirana store retailers have realised the advantages of embracing the new technology and moving with the changing times. The Kirana stores are now adopting technology to automate and drive customer engagement to keep up with modern trade, discount stores, and e-commerce.

Some of the significant changes in the industry in 2018 are discussed here:

  • In 2018 the retailers will shift their focus from optimising supply side and purchase side, to increase customer engagement. The kiranas will adopt technology to automate supply management, use data to get analytics like customer buying behaviour, fastest moving items and demand forecasts, inventory management etc.
  • The new age kirana owners will focus on uplifting their store image, better use the physical infrastructure and modernise the shopping experience to keep up with the e-commerce and big format retails. Alongside, they will also focus on installing POS machines and smoothen cashless transactions.
  • The retailers will try to increase customer touch points by offering value-added services like scooter insurance, bus tickets, cinema hall bookings, or bill payments, recharge etc services.
  • With a race in discounts and discounted stores, kiranas will start giving itemised bill showing discount offered on the items, any schemes or bundle discounts, customise SMS service to customers on promos and adopting app-based delivery for convenience.
  • The retailers will use data and technology to predict the buying pattern, send reminders and cross-sell and up-sell at the store site.

According to the Indian Council for Research on International Economic Relations (ICRIER), the mom-n’pop stores, or the kirana stores hold approximately 95% of market share. By adapting to the new technology and readjusting their ways of doing business they can ensure that their customers remain with them – this time for better service, new products and same old relationships.

Digital penetration vs. Digital payments

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2016 saw the epilogue of higher denomination currency, our government’s decision of demonitisation changed the financial landscape of India.  That decision also led to the rise of digital payment systems and a cashless economy. Before talking about Digital payment system penetration, let’s talk about Internet penetration.

Internet users in India have grown extensively in the last couple of years. In 2017, we had around 429 million internet users in India, the Cisco reports project the users may double by 2020. Smooth mobile network connectivity will ease our growth, making India the second country with the largest mobile and internet penetration, second only to China.

 

So we have Internet/Digital growth and adoption but do we have acceptance of Digital payments.

In the past 4 years, our digital footprints have increased extensively. Thus migrating to digital payments makes a logical sequence to the widespread online presence. But the trend defies logic in the Indian market. In spite of various services like mobile wallets, UPI, and AePS the government or other private digital payment service companies have still not been able to penetrate the market effectively.

This creates the need for a technology platform which envelopes buyers, suppliers and the distributors. An ecosystem which gets digital payment to a customer’s doorstep will need to provide more value to the customer than just cashless transactions.

This value can come in the form of empowering retailers to accept digital payments and provide additional services and products which impact the overall customer experience.

A retail tech platform like Pay1 with its robust technology and a large market penetration can bridge this gap between digital payment availability and adoption. If a customer can approach a retail store and make a digital payment to the retailer, who in turn can make a digital payment to his distributor will make the whole value chain digital.

Additional services like loan disbursal, insurance renewal, ticketing, and logistics can become digital transactions on a single secure platform.

Pay1 a retail tech platform provides value-added services via digital payment not just to the last mile but also to the retailers. Financial product partners’ like Pragati capital provide quick and hassle-free e-loans to the retailers to increase their offerings.  If the retailer gets an e-loan, services EMIs via digital transactions, the whole up chain and down chain become digital.

Thus the ‘press enter’ becomes the digital currency.28_sept_blog_02

 

But what hinders growth.

India may have internet penetration, but we still lack high-speed connectivity in nonurban areas. India has 429 million internet users of which 129 million are in rural and semi-urban areas. For any digital payment services to have a stronghold the 3G and 4G services need to expand in the rural hinterland as well. Another challenge is that not every person in India is covered by a bank account. For any digital payment system to root itself it needs a substantial bank account and financial services users. For banks and other financial services, the constant challenge has been to convince people to open bank accounts and then distribute their services at an affordable rate.

According to the numbers shared by the ministry of finance in December 2017, near to 30.71 crore people are covered in Jan-dhan scheme which includes 12 crore people residing in urban areas. Which means till date Jan-dhan scheme has covered only 18 crores of the population, out of which near to 100 crore people residing in the nonurban regions of India. With aggressive promotions carried out by the government and private companies regarding mPOS, UPI and AEPS services, the psyche of rural residents may have been shifting a bit towards growing digital services. But shifting the agrarian economy to digital payments will need the entire value chain to adopt the digital payments. This coupled with the lack of technology savviness compounds the problem. It is important to make spread awareness and benefits of digital payments.

For “Digital India” revolution to pick momentum we need the farmers, retailers and other traders to adopt the digital services. The government, as well as private organisations, need to set up educational camps to educate people about digital payments and bank accounts and why it is important for every citizen to be covered under a financial scheme.

Pay1’s new offerings aim to propel the unorganised retail market into a new space

sept 21 - 02 – 1

We cater to an audience that is widespread to the nooks and corner of our country, no other form of business has been able to pierce the Indian subcontinent as the convenient stores we deal with on regular basis. They are omnipresent and common. It is taken for granted that every curving street and dusty lanes will have one of these retail outlets.

These retailers serve those audiences who are difficult to reach out to through traditional marketing mediums. The population that needs to be targeted, the Bharat two and the Bharat three populace is within hands reach to these shop owners. So it becomes quite clear that these trustworthy shop owners can act as an evangelist, communicate with the customers and inform them about services that are nowadays of prime importance. This is one of the business model Pay1 aims to strengthen. We already have an impeccable working model that gives our platform to the companies to reach out to their audience. We not only give opportunities to the companies but we also give gamut of service options to our retailers. We recently launched a couple of new services/platforms which raises the bar immensely and gives our network more options to strengthen their business.

 

Pragati Capital – Ek Kadam Aarthik Aazadi ki or…

Pragati capital aims for financial inclusion of the merchants, provide them loans and equip them with services such as mutual funds and insurance that they can sell to their customers. Insurance and Mutual funds are still not widely accepted in tier 2 and tier 3 markets, for them, investment is a word which is too upmarket and this misconception does not do any good to the companies trying to further their business goals. Our platform trains the retailer simultaneously giving scope to companies to expand their operations in the markets untouched by them.

sept 21 - 01Pay1 Travel – Aapka Booking Partner

The other new service that we are about to launch is Pay1 Travel. The pre-launch campaign has been immensely successful and we have garnered good amount leads in just a span of one week. Through travel we aim to capture a wide market, considering the demand for the service. The Travel platform further strengthens our retailer as it equips them with the travel booking service. We have detailed the service advantages in our previous blog.

With the Travel platform in place today, a Pay1 retailer can offer almost all the services ranging from money transfer to flight booking. This not only benefits their customer but also the retailer as well as the companies selling their service through the Pay1 merchant.

sept 21 - 02