Helping You Escape Competition With UPI Payments
In the last few years, the payment ecosystem in India is constantly evolving and growing at a rapid pace. With the promotion of ‘Digital India’- a vision to transform India into a digitally empowered nation and creating a cashless, paperless economy.
Digital Payments have been simplifying your social life by enabling seamless money transfers among you and your network of friends. Now it is time to check out a payments infrastructure suite specially designed for startups, businesses and marketplaces.
First, let’s explore what are the current pain points faced by you as a business owner or customer in this regard -
· Lengthy payment flows
· Poorly designed pages for features
· Low customization support
· High MDR commissions
· Slow settlement and money flow
· In-efficient reconciliation & tracking
What’s the ideal solution?
After a detailed study, we observed that most business requirements can be divided into the following:
· Get paid seamlessly
o Accept payments using UPI (we have state of the art UPI design for user on-boarding and payments)
o Collection of payments among users for group purchases like vacation packages, activities & more
o Offline acceptance using SMS links or QR based
· Run business more efficiently
o Manage and simplify B2B payments with automated and instant vendors/sub-sellers payouts using UPI/IMPS APIs
o Internal payroll disbursal and payments tracking
o Dashboards to track and maintain comprehensive, visual overview of your money flows
o eKYC authentication for vendors / sellers / customers
· Sell more
o Cost splitting SDKs for users which spreads the app across multiple users
o Detailed yet crisp analytics slicing data from varied lenses to gather actionable insights
Hence, the result is this full product suite consisting of multiple individual stand-alone plugins and modules.
What is special in UPI?
Consider a merchant ‘Oyster Loyalty Program Limited (OLPL)’ that went live with UPI payment option in Feb 2017 to enable a completely seamless experience for their users. The idea was to allow their users to pay instantly using any UPI app (like Bhim, Mypoolin, etc) in the country without the need to use broken net banking flow or enter long card details.
Here is a snapshot below of how this switch uplifted their business and made it more profitable for the long term –
Like any new system, it will take some time to set up and grow. The businesses will have to come on-board quickly to accept payments with UPI and users will need to be educated.
For businesses, this is a full-fledged payments infrastructure provider leveraging UPI and India Stack. You can start accepting digital payments as well as route them smartly over UPI and IMPS at the lowest cost in an automated manner.
· Accept payments using Bharat QR / SMS links over any payment mode
· Distribute money automatically and instantly to your vendors / agents / employees
· Authenticate eKYC using Aadhaar verification for any of your service providers
and much more!
Your one stop place for all payment needs. As a customer, you can send, receive and split payments with your friends & colleagues on a daily basis. As a business owner, you can start accepting digital payments as well as route them smartly at the lowest cost in an automated manner.
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