ePaisa: Digitizing India Through its Mobile POS Solutions
Date: Friday , December 30, 2016
With the recent announcement by the government to demonetize old currencies of Rs.500 and Rs.1000 denominations, it is clear that India is moving towards a cashless economy which has made it inevitable for businesses to digitize their business and accept multiple payment types, be it cards, mobile wallets, UPI and many more cashless mode of payments. These cashless modes of payments can only be accepted by businesses if there is a strong POS solution in place. On one hand, where the penetration of debit & credit cards and mobile wallets is quite high and Smartphone users have also grown exponentially in India, the POS industry still lies in a scattered state with small retailers finding the solutions very expensive. However, ePaisa, a startup from Mumbai, changed the scenario with its technically enhanced mobile POS solution. They developed a smart business tool mobile app enabling business owners to accept of all forms of payment, manage their inventory, send out digital receipts, view analytics, push offline products online with marketplace integration and many more at a very affordable cost. This POS solution offers a seamless, smart and on-the-go platform to small and large retail outlets, salons, grocery shops, exhibitors, doctors, home businesses, vegetable seller and even newspaper vendors. \"ePaisa understands micro and small business owners at a much deeper level, which is why the need of the hour for any business is an ePaisa mobile POS that bundles all commerce and back-end office needs of a business,\" says Siddharth Arora, CEO & Founder of ePaisa.
Salient Features of ePaisa
Founded in 2012, ePaisa is a mobile application which provides SaaS based POS solutions aimed to provide tools to businesses of all sizes. This mobile tool works with any Smartphone or tablet and doesn\'t require new bank accounts or POS relationships to be setup. The application is very easy to use and to avail its services, all one needs to do is just download the application, choose a plan and provide KYC details to get access to its features, which includes cash register, omni payments, inventory management, business tools, value added services and online integrations which are being currently provided in 36 languages, and few more on the cards. The software also has a revenue model built into it which enables merchants to earn more by offering mobile recharge, utility bill acceptance, ticket booking and gift card issuance to their customers, earning up to eight percent per transaction.
Factors of Differentiation from Other POS Solutions
Believing that there cannot be a one-size-fits-all-strategy for all the retails and businesses, ePaisa has identified 20 verticals under which it will be launching its customized POS solutions like CarePOS, Salon POS, QuickServe POS, etc. Through its capability to integrate and work through a mobile phone or a tablet, the solution replaces the clunky old registers and gives business owners the ability to digitize their business. The software also has an offline working feature which most of the POS solutions lack and also provides ePaisa Readers and peripherals like wireless cash drawers, receipt printers and barcode scanners, all of which can be integrated with ePaisa register to provide a comprehensive POS solution for its customers.
With a strong team of over 75 exceptionally talented workforce and presence across Mumbai, New Delhi, Pune, Bengaluru, Mexico City, Singapore and Los Angeles, ePaisa has won many awards for its efficient solutions. With around 6,000 small businesses across the country using ePaisa for their daily business needs the company now aims to reach 25,000 merchants by the end of this financial year.