This Multi-Channel Digital Payments Platform ‘NPay’ Is Helping People To Make Digital Payments Hassle-Free
The Indian startup ecosystem is filled with startups who are working with a vision of helping and serving the society with their products and services.
Now, when India is going digital, startups are doing their best to provide their offerings online and make a system that can serve the rural and urban areas.
Today’s startup story is about NPay, a startup that provides digital payment solutions at the doorstep with multiple categories like BBPS, AEPS, IMPS, travel and mobile phone recharge.
Startup Story: NPay| Multi-Channel Digital Payments
This bootstrapped startup was founded by Bharat Gutta, Vineet Dontamsetty, and Akash Chode to serve both rural and urban areas where people face challenges in using digital payment services to pay their monthly bills.
How NPay Started?
It all started when Bharat visited his grandmother, who lives in a village 20km away from a nearby town.
To pay her bills, either she has to travel nearby E-Seva centre which works time to time, or Bharat used to pay her bill by calling her and asking for details where she always had difficulties in finding consumer ID.
When Bharat visited the E-Seva centre in that village, he was amazed to see that 70% of people used cash as a payment method.
“When I visited her, I went to nearby E-Seva centre in that village and saw more people are transacting offline than online and started researching on offline bill payment. I was amazed to see more than 70% of people still use cash as a payment method even it’s an e-commerce order or bill payment.
I met serval people in different villages and took feedback from them. Where there are people who work on daily wages, drivers, maid, electrician, paperboys etc. who accounts large population in India. Some have to take a day off to make payments even in this digital era. A major challenge in using digital payments is using online banking giving their debit card details or net banking details to make payment which is complicated for these people.”
So, Bharat decided to solve this issue and took feedback from these people. He thought of delivering the services at doorstep using agent network who can make instant payments on customer behalf by collecting cash and sharing physical receipt.
It took Bharat nine months to develop an application and doing a successful transaction.
USP Of NPay
With a wide network of agents, NPay provides digital payment solutions at the doorstep with multiple categories like BBPS, AEPS, IMPS, travel and mobile phone recharge.
The startup serves both rural and urban areas where people face challenges in using digital payment services to pay their monthly bills.
The startup claims to be a cash-on-delivery aggregator of digital payment which is first of it’s kind. Customers can use cash as a payment method without stepping out of their home. Customer can pay using Cash, Card, UPI pay through a link.
Present Situation Of NPay
NPay started the transaction and acquiring customers in November, and so far has helped around 100 customers.
Talking about NPay and its benefits, Bharat says,
“Customers can select multiple bill payments and can able to pay in a single click without the need for multiple back and forth process. We are eliminating the need for storing physical bill receipt and data entry process, which is a complicated and lengthy process. Also, a successful bill receipt will be shared with the customer after the transaction.”
Future Plans Of NPay
The startup has aggressive plans for user growth and plans on increasing the 3000 customer base by Jan 2021.
The startup is also partnering with billers who still visit customers to collect payment and who are not on the BBPS (Bharat Bill Payment System).
“We also onboard Billers into BBPS by introducing them to BBPS operational units.
By 2021 Jan, the startup aims to deliver micro ATM services at doorstep where customers can deposit, withdraw, fund transfer to a bank account without stepping out from their house.”