Paydeer Services becomes the top fintech startup in Rajasthan
By Team Startupcity | Tuesday, 10 May 2022, 12:10 Hrs
Paydeer Services Private Limited, a digital payment platform company, has grown to become Rajasthan's top fintech startup, with a network of over 550 distributors and 20,000 retailers in about 33 districts and 249 blocks.
Paydeer Services, which was founded in 2017, has built a digital network throughout Rajasthan to enable even the smallest merchant to become digitally self-sufficient.
Through the Paydeer app's digital wallet, the firm offers banking and financial services such as AEPS, BBPS, Loan, Vehicle Insurance, Pan Card, M-POS, and Domestic Facility Money Send (DMR). Users can make bill payments and cash withdrawals from anywhere using a mini-ATM, as well as DTH recharge and bus, air, and rail ticket reservations.
Paydeer is registered as a startup on startupIndia by Government of India in December 2021. Before that, it was registered under Cybdeer network named LetsGo.
"We have opened over a hundred Paydeer digital service distributor locations throughout 33 districts in Rajasthan." said Paydeer's founder and CEO, Vinod Parihar. "We have developed a network of over 550 distributors and 20,000 retailers across Rajasthan to reach the last of the stores in the state's interior villages."
"Paydeer is a registered private limited company with 1200+ employees working dedicatedly to grow the company. We have over 900 Alliance Officers across the state work with the retailers who have E-Mitra, as well as any local store. Residents of Rajasthan can easily apply to open their store."
The company has launched a unique financial service for AEPS service customers. The customers can use their aadhar card to access their Aadhar-linked bank accounts and perform banking transactions including withdrawals, deposits, balance checks, mini-statements, inquiries and bank transfers using a secure biometric scanner.
Paydeer Services has been awarded Biz Next, Indian Achievers' Award, and Achievers of Women Environment award since its inception in 2021-22.
A retailer from an interior village in Rajasthan said, "Earlier, people from my village used to stand in queue for hours to get the train tickets. Now, they visit my store to book train, bus, and flight tickets from the Paydeer website. I also help them transfer money, pay bills and recharge their DTH accounts. They no longer need to travel to the city for any financial or banking related services"