December 2014

Payments at the Speed of Electricity

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From taxi drivers to food delivery companies to small bars and restaurants to fund-raising charities, all are switching to electronic mode of payment through Mobile Point-of-Sale (mPOS) devices, says Pavan Kachibhatla, CEO, Bijlipay in an interview with Seema Gupta of Elets News Network (ENN)

Pavan Kachibhatla

Pavan Kachibhatla,
CEO, Bijlipay

What all is Bijlipay into and how does it operate?
Bijlipay is a payment services company operating across the spectrum of mPOS and e-Commerce. The company headquartered in Chennai is creating new and innovative payment solutions for small and medium businesses in emerging markets. It has partnered with Wirecard AG, one of the world’s leading independent providers of electronic payment systems, and Spire Payments, the UK, which created the world’s first fully Europay, MasterCard and Visa (EMV)-compliant mPOS device.

How creating a mobile payment solution helped Tamil Nadu in generating funds from locals?
The main challenge today is transparency when it comes to ad-hoc fund raising. Contributors want to be sure that their funds are reaching the desired place. Collections in small boxes are easy to do, but very often small contributions and contributors do not get a receipt. The BJP in Tamil Nadu wanted to change all this by using technology to bring in transparency, and of course, increased contributions. This initiative by the BJP in the state allowed their volunteers to collect funds instantly, anywhere, any time and yet provide a digital receipt to the contributor.

To cite another example, Bijlipay was asked to deliver 100 devices in less than two days for J&K flood relief work. Taking up the challenge, Bijlipay lived up to the test and created a record in the country by deploying 100 devices for the purpose.

What are the various sectors where your payment solutions can be used?
With each passing day, we find new use cases. We have small and medium businesses of every kind signing up with us. This includes taxi drivers, home-based clothing and accessories designers, individual service providers, event managers, food delivery companies, small restaurants and bars, and the fund-raising charities. This list is growing fast as more and more service providers are opting for cashless transactions.

What do you think is the reason for rising number of digital payments and shrinking paper currency-based transactions?
With increasing traffic jams and the hustle and bustle of everyday life, it is becoming increasingly difficult for customers to visit an ATM or a bank. Besides, the salaried class does not want to keep too much cash in the pocket, as it tends to disappear faster. Also, following recent RBIimposed restrictions on the free use of ATMs, just-in-time withdrawals are also on the wane. So, people prefer to pay for everything with their card and keep track of their expenses better. However, small business owners were not ready yet. But with the likes of Bijlipay on the scene, all that is changing now and we are happy to enable that change.

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