Pay Point India

paymentsbill paymentsmobile/digital wallet

FOUNDING YEAR: 2005
LOCATION: India
Last Update: 01/05/2020

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About

Every household consumes services from numerous service providers like electricity, gas, water, landline, mobile phones, DTH, travel, banking, money-transfers/remittance, financial services, etc. The process of availing and making payments for these services is often cumbersome and time-consuming. The growing service sector and the increase in spending power, make the need of an efficient and convenient delivery channel more apparent. India, the largest democracy with over 25 million households, is witnessing enormous growth in the services industry. While new services are being introduced, the consumer base of the already offered is growing at a steady pace. Pay Point effectively fills the gap by letting the utilities concentrate on the service delivery only and creating a franchise network of conventional Mom-&-Pop stores in the consumer's neighborhood. These franchisees are equipped with a multifunctional terminal, which are connected to the service providers servers and execute transaction on a real-time basis, while issuing a reservation or a receipt with legal validity to the consumer. Pay Point India's solution provides service providers an extended reach, retailers a new earning opportunity and, consumers an unparalleled convenience. The consumer centric operations essentially empower consumers with: A single access to a wide range of products and services. With multiple access points and payment modes At an easily affordable price

MEDICI Analysis

Pay Point India Network Pvt. Ltd. operates a Web platform that enables users to make payments for various service providers in India. It allows consumers to make payments for fast moving consumer services, including utilities, travel, cinema, DTH/mobile recharge, banking and financial services, etc. through a franchise network of conventional mom and pop stores.

Focus

PRODUCTS & SERVICES

Online platform for bill payments, Tatkal Rupya (money transfer service), Recharge+ (online recharge service) and booking+ (travel booking service), banking+ (for banking services).

REVENUE MODEL

Revenue sharing model where they charge fee from its partners for every transaction made for them through its platform.

EXISTING PARTNERSHIPS

Partnership with State Bank of India

IRCTC

Tata DoCoMo

Tata Sky

BigTV

Reliance energy

Idea

etc.

COMMENT

Through Paypoint platform, consumer gets the convenience of accessing a wide array of services at a Pay Point Shoppe in his neighborhood either free of cost or at a nominal fee.

People

FOUNDERS

Ketan C. Doshi

Pradip C Mehta

Romil Meghani

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Sudhir Valia

Momentum

FUNDED

NO

TOTAL FUNDING COMMENT

Undisclosed venture funding

LISTED

NO

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