Digital payments firm PayNearby on September 21 said its enterprise offering that facilitates cash collection as a service crossed Rs 350 crore worth of transactions in monthly Gross Transaction Value (GTV).
PayNearby enables businesses of all sizes across industries to digitise cash collection at the last mile and promotes a “less-cash economy”. It also enables businesses to optimise their cash collection cost while helping them expand seamlessly.
“We are thrilled to reach a milestone of Rs 350 crores in cash collection through our enterprise arm. The pandemic has only bolstered the necessity and penetration of digital services across industries, and we are happy to level the playing ground in terms of accessibility for Indians beyond their location. Our retail partners have served as cash disbursal points, and are now outlets for secure cash disposal,” PayNearby’s MD Anand Kumar Bajaj said.
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The finetch firm, through its local retail agent network across the country, enables semi-urban and rural communities to access online shopping, entertainment and food delivery among other digital services. It also offers financial and digital services.
PayNearby offers cash collection as a service to more than 50 clients across sectors such as non-banking financial companies, microfinance institutions, OTTs, food delivery aggregators, cab aggregators, FMCG and logistics. Hero Fincorp, Svamaan, Svatantra Microfin are among its key clients.Internet Explorer Channel Network