Industry Overview
Every household consumes numerous essential services like electricity, gas, water,
landline, banking, mobile phones, etc. Besides these, households also need services
with discretionary spending like DTH, travel, entertainment, remittance / money-transfers,
financial services, etc. India, the largest democracy with over 250 million households,
is witnessing enormous growth in the services industry. While new services are being
introduced, the consumer base of the already offered services is growing at a steady
pace. The process of availing and making payments for these services is often cumbersome
and time-consuming due to the lack of an effective and sufficient service delivery
channel. Pay Point’s solution capitalizes on this enormous need, which will continue
to grow in view of the under-penetration of the offered services, growth of the
service sector and increase in spending power of the average consumer.
Our Solution
Pay Point India’s solution provides consumers a quick and easy, single stop access
to a wide array of services. Consumers can purchase or make payments for almost
any fast moving consumer service, like Utilities, Travel, Cinema, DTH / Mobile Recharge,
Banking & Financial services, etc in their neighborhood. Pay Point provides consumers
this convenience by creating a franchise network of conventional mom and pop stores
located in the consumer's neighborhood. These franchisees are equipped with a multifunctional
terminal, which is connected to the service providers' servers and executes transactions
on a real-time basis. Pay Point has contractual agreements with service providers
and is authorized to issue legally valid reservations and receipts to consumers.
