The Bengaluru-based digital payments platform, PhonePe has lately proclaimed that it will enable digital payments for more than 25 million small merchants across India in the coming one year. The company will also join kiranas on its PhonePe for Business app, providing them end-to-end control of the payment process including instant payment confirmations, receipts and reconciliations. It decides to cover 5,500 talukas through its merchant acquisition team that will create more than 10,000 jobs in semi urban and rural areas.
Regardless of increased penetration of electronic payments, kirana stores are still dealing in cash across the country. Kirana owners possess smartphones, data and a desire to embrace new technology; however, there are no services that meet their anticipations. They are planning to acquire customers and build deeper rapports with them. On the other hand, customers are searching for safety and satisfaction while continuing to access their local trusted neighbourhood merchant.
"Kiranas and merchants across small villages and towns are striving to progress and prosper. We are really excited to partner with them in this journey and take digital payments to the last mile of India across every village and town. This is also in line with our brand ethos of "Karte Ja Badhte Ja'' which reflects the role played by PhonePe in India's progress, helping bridge the digital divide while empowering merchant partners across Bharat," Vivek Lohcheb, Vice President - Offline Business Development, PhonePe said in the companys official statement.
The Bengaluru-based company along with its multiple offerings is wholly prepared to fill this gap. It gives its merchant partners a customized store page on the application, permitting them to list their store timings, share their product catalogue and promote home delivery options, thus, reaching out to a much wider customer base. Customers have the convenience of discovering local stores in their vicinity and connecting with the merchants using the call or chat feature to place their orders, and pay remotely through the stores tab on the application. It is bringing these offerings to merchants in semi-urban and rural areas to aid them digitize and grow their business.