The digital payments space is on a boom right now. More than 70% of consumers prefer digital payments these days. With this, everyone needs a solid foundation for the same. QRupia, which is a play on words combining QR, UPI, and Rupia in one word, is one of the best service providers in this space!
QRupia is a Fintech startup that focuses on delivering financial solutions digitally for small and medium-size merchants like General stores, Chemists, Restaurants, Jewelers, Mobile Recharging shops, etc. The company believes that the Indian market is still underpenetrated and they see a lot of potential which can be tapped in fintech space.
They have a digital platform, called QRupia Sahayak, for merchants for UPI Payment acceptance and platform offers value-added services like Digital Ledger, Pre-paid Cards, Loyalty Program, Neo Banking, Insurance, and Investment products. It’s a no-cost, easy to setup and use, complete payment acceptance system for merchants. They are tapping small to medium size merchants located anywhere in India.
Mr. Sanjay Jindal, CEO, CTO & Co-Founder of the company is an entrepreneur with 30+ years of experience in the IT Industry. He is from IIT Roorkee. He has been with IBM, Unisys, Apple, in US (1989 – 1995). He was the co-founder of EmiNet Domain, Inc. (1995-2000), an ISP in Florida, USA. Also, the founder of NetSutra (Present), an offshore software development company, HQ in Delhi. He has a proven track record of offshore development and adapts quickly to new technologies and processes.
Mr. Anshul Choudhry, COO & Co-Founder has 20+ years of experience in digital payments, sales, distribution and banking alliances and has worked with companies like MARICO, Worldline India, CardPe Services & FAMOCO solutions. He had set up the entire team from ground up at CardPe and built INR 100 Million business in one year! He has done MBA from Indore University.
The basic approach is very merchant-centric, all the services are built keeping small and medium-sized merchants in mind and are easy to use and no cost. Their digital ledger allows merchants to record transactions with their customers and suppliers which is typically done using paper-based bahi-khata which is prone to error and harder to manage. The hyperlocal model allows, say a small bakery or a grocery store, issuing their own branded pre-paid cards to their regular customers which gives merchant instant cash. Easy access to micro-financing loans, insurance, and investment products from a single platform makes it easy for the merchant. There is no such integrated offering in the market and this concept is very unique!
The target of the company is to acquire 3 million merchants in the next 2 years. They have additional services planned to add to QRupia Sahayak, specifically targeted towards merchants. They would like widespread adoption of their digital ledger platform. Medium size merchants would be using their unique pre-paid card and loyalty program. With such a large merchant base they would be able to attract flexible and cost-effective insurance products and more options in banking and investment products. Their digital platform QRupia Sahayak would be one of the preferred tools for payment acceptance, book-keeping, and customer incentive programs for SMEs.
Download QRupia Sahayak for easy living, https://play.google.com/store/apps/details?id=com.qrupia.sahayak
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