Express Computer
Home  »  News  »  Payment gateways taking a rural first approach by enabling Village Entrepreneurs

Payment gateways taking a rural first approach by enabling Village Entrepreneurs

  Players like Xpay, Paynearby - enabling village commerce through mobile vans, Touch screen kiosks

0 426

In its recent Budget, the governement allocated Rs. 6,000 crore for BharatNet to connect 1 lakh Gram Panchayats – a move which clearly intended to empower every Indian with access to a bouquet of e-payment options that are safe, secure, convenient, quick and affordable – even at Gram Panchayat level.

Last October, the RBI issued directions for interoperability which allowed users to transfer money from one wallet company to another and even bank alongside direct connectivity to IMPS along with non-bank participation in the payment system. This has led to a  huge migration of people who used bank transfers earlier to send money back home to digital platforms in remote corners of the country. Now, it is time that government looks at strengthening the payment infrastructure and push more people towards it.As cash continues to be the preferred mode for transactions, especially in semi-rural & rural areas, it becomes imperative to encourage this large section of the population to become a part of the fintech revolution.

One major factor supporting Payment gateways’ inclusion in rural areas is the existence of small businesses in these areas. With Digital wallets as well as apps like UPI (Unified Payments Interface) solution, demand for payment gateway in rural areas has gone up considerably. The businesses in these areas strive to find an apt means to collect payments for them. Players like – XPay.Life , which is enabling a full spectrum of Utility Bill Payments through its Touch Screen Kiosks, mobile vans, have completed 1 lakh transactions in the beta version, worth INR 5 crores. The company offers services across 18+ cities in India with 50,000+ pin codes with 80% of its customer base from rural pockets.

Another similar company called PayNearby Technologies Pvt. Ltd. aspires to empower 20,00,000 stores across Tier I, II and rural towns in India. Using the power of Aadhaar & Mobility, they aim to transform the Nearby retail stores into Fintech Marts.

Advertisement

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 
We are Live Now !

TECH SENATE-2022
REINVENTING FOR THE FUTURE
DAY-3

Join our live event and learn how to use the latest technologies to future proof your IT infrastructure.
WATCH NOW
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image
How to drive performance, flexibility & security capabilities across the cloud
Learn More
close-image
We Are Live! Tech Senate 2022 -Learn best practices in choosing emerging technologies
Watch Now
close-image