Mumbai, India, September 22, 2015: ePaisa, the mobile point of sale app digitizing businesses, now equips retailers, restaurateurs, kirana stores and other offline businesses with convenience of accepting wallet payments. The launch covers India’s wallet providers – PayTm, Mobikwik and Citrus Pay which are all now accepted on ePaisa.
With this, ePaisa will power its merchants, all over India, to accept payments from 150 million mobile wallet users, in-store or remotely and get the funds into their bank account the next business day. Customers who have been using their wallets for online purchases only till now will not require an Internet connection to pay. For offline businesses, the benefits to use such a solution are immense. Not only is it easier to process a transaction (no need for any hardware), at a lower fee (compared to what the banks charge for card acceptance), but businesses will also get traffic driven by the wallets themselves.
“Imagine walking into a store, getting an instant cash back alert to purchase at that store and completing the transaction in minutes – all at a lower cost to the shopkeeper. Everyone wins.” said Siddharth Arora, Founder & CEO, ePaisa.
These new additions are important to merchants like Robin Jha, owner of Tpot Cafe, a popular coffee shop in New Delhi. “I love it!”, he says, “ePaisa keeps raising the bar for point-of-sale transactions. We used to get around 2 to 3 customers every day asking to make a purchase with their wallets and would often leave disappointed when we could not. Now we can accept mobile wallet payments using our own POS and not just accept one wallet, we can accept them all.”
Afzal Salmani who owns Bling, an unisex salon in Mumbai adds, “I thought customers use wallets only because they get cashback! When ePaisa came to me with the idea, I asked my customers in the salon if they even had a wallet. 80% of them did and said they would love to pay with it.”
“Our belief is that if you want to digitize India, you have to digitize the point of sale. Wallets have grown fast – 180 million plus wallets in India (compared to the 20 million credit cards in the entire country) but they are mostly used for money transfer or recharges. We believe that real acceptance will come when wallets are accepted offline as well. Businesses can expect their sales to shoot up with traffic driven from the wallets. There’s less friction with mobile wallet payments, where no money exchanges hands. That means better security for brick-and-mortar stores, as they don’t have to hold cash on-site and it also gives consumers a better experience at checkout.” adds Siddharth.
Citrus Pay’s Founder and MD, Jitendra Gupta said, “The availability of an option to use Citrus wallet on the ePaisa network will increase acceptance points for the users’ digital wallet. The line between digital payments for offline and online spending is fast blurring. From the merchant’s perspective, real-time payment and settlement in today’s digital age should be the norm. All this, while keeping in mind the security of the consumer’s money. Wallet is not just about discounts and cash-backs but also about the experience – a simple, straightforward, secure, rewarding and smooth payments experience – which is exactly what we at Citrus aim to deliver.”
“ePaisa has been at the forefront of benefiting businesses across segments. This is another step forward in our vision towards payments being neither complicated nor old fashioned. We will continue to innovate in making payments easier and enabling businesses to grow. A shopkeeper or business owner can now handle his billing, inventory, marketing and payment needs all through one great app on a phone or tablet and in their own language. Merchants want complete control over their payment systems and consumer experience and consumers want a delightful, seamless experience that is easy and convenient. However, most of the legacy point-of-sale (POS) systems and traditional payments infrastructure are not leveraging the power of the mobile device to address the evolving needs of merchants and consumers.” added Siddharth.
This is how it works. Want to pay for your shopping with your wallet? Your wallet app will alert you whenever you are near an ePaisa™ enabled outlet that can accept payments. The cashier initiates a transaction and you get an OTP, or in-app alert or you just scan a QR code depending on the wallet being used. Confirm the transaction and you are done. The money is deducted from your wallet and credited to the shopkeeper’s bank account.
After enabling merchants to accept card payments using a mobile credit card reader and Bitcoin payments, the company is now enabling businesses to accept all other forms used today, right through their point of sale, freeing shoppers from cash payments, change problems or even having to physically swipe credit cards each time they make a purchase.
© Technuter.com News Service