Coronavirus – COVID-19, a pandemic of a scale so big, it has transformed our ways of life. In India and the world over, the impact of the coronavirus pandemic is not limited to a few sectors but is evident across all stakeholders of the economy. In fact, throughout history, we’ve seen pandemic having a negative impact on businesses, however, this time it was also accompanied by simultaneous growth through the adoption of new technologies.
As India enters the third phase of the lockdown, Lockdown 3.0, we will see considerable relaxation of rules across sectors. This brings relief to several businesses dealing with essential and non-essential goods and services. Retailers, Kirana shops, and the mom & pop stores are expected to re-open in most zones in this phase. But as we breathe a sigh of relief, the battle in defeating this invisible enemy is far from over, necessary precautions and steps must be taken at all times to win this war.
This viral outbreak has encouraged quick adoption of digital payments for most sectors, marking a definitive shift away from cash payments. Cashless, contactless payments, digital mode of payment, online banking services are the need of the hour and the way forward. Bill payments, food, grocery, and health have already seen rapid digitization.
Companies such as Pay1 are striving to help digitize small retail enterprises, keeping them abreast of the competition. Pay1 being a technology start-up is providing digital, financial, and business solutions to the unorganized retail sector of India.With a wide array of services ranging from recharges, domestic and Indo-Nepal money transfer, utility bill payments, cash drop, micro-ATM, micro-loans, PAN card, insurances, travel bookings, and many more.
While small businesses are struggling to stay afloat, Pay1 is making the lives of these retailers easier in these trying times. The Pay1 On Duty Sticker, letter, and government order certificates issued by Pay1 will help retailers keep their operations open in all zones, by simply pasting these documents outside the store. These documents can be procured either from the distributor or can be downloaded.
Needless to say, contactless payments have seen a big rise, withRBI encouraging card, and online payments. Pay1’s Merchant app is a one-stop-shop for small shop owners. As this lockdown has forced people to stay indoors, Pay1’s services like the Pay1 swipe (mPOS), a handy device can be used for card-on-delivery transactions when essential items are home delivered by these small retailers.
The mini ATM and AePS services, Pay1 retailers are also able to help customers to withdraw cash without having to travel miles in this time of social distancing. With the use of these digital services on the Pay1 platform, the retailers have been able to increase their daily income as well as the customer footfall.
Till today, Pay1 has catered to more than 300k merchants, present across 2000+ cities, and about 20 million end customers providing solutions and will continue to play a pivotal role in this digital transformation of India.