Over the past decade, the Business, Financial Services and Insurance (BFSI) sector has witnessed significant advancements, making cashless transactions and secure digital payments more accessible than ever before. Innovations such as blockchain, recurring payments, digital microfinance options, and cashback systems have played a crucial role in transitioning from traditional banking to digital methods. These advancements have been driven by various companies that have been at the forefront of this transformative shift.
Recurring payment solution
Paycorp.io revolutionizes digital banking by offering a range of mobile-based services such as supplier payments, invoice generation, loan applications, and more. Its standout feature is the recurring payment solutions that enable automatic deductions on a weekly, bimonthly, monthly, quarterly, or yearly basis. Compared to traditional payment methods, Paycorp.io ensures same-day B2B recurring auto-debits with a high success rate. This timely payment capability prevents late fees and eliminates the need for human intervention. Multiple payment options including ACH, UPI, cards, WhatsApp, link push, and direct site transactions are supported. Paycorp.io has direct interface with at least six banks, providing a seamless and efficient banking experience.
Digital financing
LendingKart is the preferred choice for SMEs and small business owners seeking quick access to financing without the hassle of traditional loan processes. This technology-driven platform streamlines credit assessment and minimizes paperwork. As a non-deposit taking NBFC, LendingKart utilizes AI to analyze data points such as credit history and payment timeliness, allowing borrowers to easily qualify for loans. It is the ideal solution for obtaining hassle-free working capital financing that is readily available when needed.
Blockchain payment
Blockchain payment systems leverage blockchain technology to process payments securely, quickly, and at a low cost. These systems enable money transfers regardless of the distance between the sender and receiver, particularly in the Cash on Delivery sector. They also offer sellers guaranteed payments and assist buyers in managing their finances effectively. Payoda utilizes blockchain to decentralize operations, enhance transparency, reliability, cost efficiency, and data quality, while enabling faster transactions. Personalized blockchain systems manage digital assets and protect sensitive data through smart contracts and innovative consensus mechanisms, prioritizing consumer growth and progress.
D2C payment
Paytm is widely recognized as a secure and speedy platform for UPI payments. It has become synonymous with online transactions, facilitating cashless payments across various sectors. Whether you’re buying groceries, paying utility bills, or dining at upscale restaurants, Paytm is accepted as a reliable payment method. The digital transactions are instantaneous, and its acceptance extends to almost every vendor, making it a convenient and widely used payment option.
Communication
JioMart, a subsidiary of India’s esteemed Reliance Industries, is an e-commerce platform that offers a diverse range of over 50,000 products across 200 locations. With a staggering daily order volume exceeding 250,000, JioMart witnessed a significant surge in e-commerce demand during the COVID-19 pandemic, far surpassing their expectations. To enhance customer satisfaction without expanding their workforce, JioMart sought to improve their response time and query resolution. Partnering with Haptik, they developed a WhatsApp chatbot that seamlessly integrated with the messaging platform, enabling users to browse the entire product catalog, manage their cart, make payments, and complete their shopping experience without leaving WhatsApp. The results have been extraordinary.
And the results have been phenomenal.
