YUVA PAY
Payment & Collection Use cases: • Financial Institutes: Partnering with Financial Institutes to provide White-labelled Mobile wallet, Mobile Banking solution for their Customer which works seamlessly • Gram Panchayats Service Payments Collections: Replace PoS/mPoS/AEPS with our unique solution in every Gram Panchayats – To collect Taxes, Water Bill and other service Payments • Retailers Chain like Reliance, More, Nilgiris etc: Integrate with our Offline QR code solution in every retailer shops of any size – Replace PoS/mPOS solution with Mobile Payment to accept the payments from their customers seamlessly • NBFC’s/MFI’s : We can extend our solution for Loan disbursement and EMI collection at Individual or SHG groups. By this NBFC/MFIs can understand the customers usage and helps them to create a separate CIBIL for their valued customers • Ecommerce Players : Replace COD (Cash On Delivery) and reduced cash handling • Government: Integrating with government schemes for payment of DBT or Any other schemes direct to customers • Mobility like Ola, Uber, Bounce etc: We can integrate our payment solution with mobility companies for last mile seamless collections from their customers. Here we can propose Offline QR code or payment collection solution. • Food Delivery Venture like Swiggy, Zomato etc.: Were we can replace COD (Cash On Delivery) and reduced cash handling for the delivery for goods/services • State Transport like BMTC, APSRTC etc.: We can enable Cash Management Solution for the State Transport departments to reduce their operational cost. • Electricity Board like BESCOM,MESCOM etc.: Were we can enable easy Electricity bill payment collection system for the last mile customers. • Insurance Company: We can enable Insurance EMI/Premium payment collection solution for their customers • Milk Union’s: We can enable Cash Management Solution for the Milk Union Depos to reduce their Cash collection operational cost. • Educational Institutions: We can enable Education Fees payment collection solution with notification • Hospitality like Hotel, Restaurant chains etc.: Integrate our Offline QR code solution in every retailer shops of any size – Replace PoS/mPOS solution with Mobile Payment to accept the payments from their customers seamlessly • SHG Groups: We can enable last mile payment/Collection solution for SHGs groups customers/suppliers/vendors • IRCTC: We can provide QR code payment solution for Platform Ticket were people can buy Platform ticket in our application seamlessly • FMCG Companies like HUL, Dabur etc.: We can enable Cash collection solution for FMCG companies from their last mile retailers/distributors • Temple Muzrai’s: Integrate our Offline QR code solution in every temples for seva fees and collections
Website : https://www.yuvapay.com
Current Status: Steady revenues
Business Model: B2B
Product Description
With an astounding number of 1.1Billion mobile phone subscribers, India is in a good place to harness technology to make financial inclusion a reality, across every section of the society. This is especially the case for the “unbanked” and low-income groups. With the introduction of several new payment portals and methods, usage of these methods is going up and is expected to touch 20% of the total GDP in the next decade. While 80% of the population have access to mobile phones, many do not have financial resources to purchase smartphones. Therefore, it is understood that internet access in the lack of adequate numbers of smartphones in the hands of the end users, is, no doubt, very limited or totally absent. Only 22% of the people use the internet and 17% use smartphones. This makes it difficult to access digital financial platforms. Infrastructural issues like poor or no internet connectivity, mediocre availability of electric lines, make the digital transition to enable last mile users to convert to digital payment platforms, even more difficult. We are solving this problem.
In the available payment solution, if any user wants to make a Digital Payment to a merchant or anyone else, the user should have an online internet connection over a smart phone though you are standing inside the shop or outside. The available Payment solutions are dependent on the net connectivity till the completion of the transaction. Thus, every e-Transaction activity is dependent on first and foremost factor of Internet connectivity and second on a Smart Phone (except for some UPI based application which can be used using Feature Phone by using USSD code). Using a Yuva Pay, adding money, Transfer Money, requesting money and withdraw money can be done without Internet.
Yuva Pay, which works both internet and non-internet zone by supporting both smart and feature phone for the last mile seamless transaction. Except Registration, all other payment processes can be managed without internet. We need ONLY mobile network (GSM) to complete the transaction. We don’t need 3G/4G/5G. We are using Patent Pending Secured Compressed Data (SCD) Protocol to communicate the transaction between system in real time using GSM network.
There are many Payment Solutions in India. But all focus on Tier 1 & Tier 2 cities and not reached rural area due to high rate of infrastructure and implementation cost. They all dependent on the Internet and smart phone. We believe that, with alternative to Internet, banks can now expand its reach to every nook & corner of the India and government can push digital cashless society with Yuva Pay with the existing technology and without any extra cost.
