Solving the Enterprise Problem of Market Penetration, Cash Collection, and More

  • Transaction Banking , Infrastructure
  • 27.10.2021 09:40 am

Reaching out to the audience residing in Bharat has always been a challenge for the enterprise for multiple reasons: consumers' insecurity of doing financial transactions digitally; lack of network infrastructure, unavailability of intelligence, etc. PayNearby has been able to resolve these problems for financial and non-financial service providers like Banks, NBFCs, Insurance Companies, OTT companies; Food delivery aggregators etc. From start-ups to large enterprises, businesses of all sizes benefit from PayNearby's 41,00,000+ outlets to scale their business, optimize operational costs, and develop new markets. It has its presence in 17,500+ PIN codes across the country.

For, e.g., Consider the case of OTT companies that provide online entertainment services, but their reach is primarily restricted to urban cities. PayNearby hand holds tier II or rural audiences who are averse to doing digital financial transactions to subscribe to OTT services, helping companies on-board out of reach customers. Customers benefit as they are not able to access the services that are now made available by PayNearby. Similarly, it has helped insurance penetration by providing healthcare insurance products available to the masses.  Recently, PayNearby through its enterprise offering that facilitates ‘cash collection’ as a service has crossed ₹350 crores worth transactions in monthly Gross Transaction Value (GTV).

It offers cash collection as a service to 50+ clients across sectors such as NBFC, Microfinance (MFI), OTTs, food delivery aggregators, cab aggregators, FMCG, and logistics. It has helped the companies to penetrate the new market at ease and in less time.

By partnering with PayNearby, companies gain access to the services of the largest retail network in the country while maximizing its hyperlocal reach:

1. Empowers businesses with faster settlement, uninterrupted reach, reduced overhead expenses, and unified cash collection dashboard, resulting in better risk management & higher operational efficiency.

2.  It aids businesses to expand their serviceable market and reach customers across borders and income groups.

3. Its extensive last-mile connectivity enables businesses of all sizes across industries to digitize cash collection at the last mile, thus promoting a less-cash economy.

4. PayNearby's time-tested systems serve more than a million daily transactions while offering the highest success matrix of 99.9% uptime.

PayNearby further enables semi-urban and rural regions to seamlessly access online shopping, online entertainment, online education, and food delivery, among many other digital services, through their local retail agent. As an outcome, this arrangement benefits both retailers and the public in general. It's a win-win situation for all!

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