RapiPay: A ‘gamechanger’ Payment Instrument empowering Tier I, II towns and Rural India
RapiPay recently launched micro ATMs and owing to its runaway success, the company has rolled out ambitious plan of deploying 5 lakh micro ATMs over next 2 years.
New Delhi: As the country witnesses enhanced digital penetration of services in various sectors including Education, Commerce, Marketing, the need and importance of prepaid payment instruments and mobile wallets has only been reinforced.
The digital transactions which instilled fear in people’s minds till sometime back, has suddenly become ubiquitous as Generation Next is increasingly opting for e-wallets & payment instruments rather than cash.
Today, as multiple payment instruments clutter the space, RapiPay has emerged as nation’s fastest-growing Fintech company for providing Banking Business Correspondents (BCs) services to customers.
RapiPay provides multiple customer-oriented services under one roof. Its subscribers can avail services like Micro ATMs, AePS (Aadhar Enabled Payment System), money transfer, bill and tax payments via a neighbouring shopkeeper rather than going to any banking or payment services.
RapiPay is triggering mega growth in Tier I, Tier II towns and mostly rural India. The company, Fintech subsidiary of Capital India Finance Limited (CIFL), firmly believes that ATM cash withdrawals, Micro ATMs will prove to be game changer for Indian consumers, especially the marginalized population located in Tier 2, 3 towns and rural India.
Moreover, RapiPay’s BC model will also play strong role in building an ‘Atmanirbhar Bharat’ by providing self-employment opportunities to lakhs of Indian retailers.
RapiPay bridging gap with Micro ATM services
RapiPay recently launched micro ATMs and owing to its runaway success, the company has rolled out an ambitious plan of deploying 5 lakh micro ATMs over next 2 years.
During lockdown, the micro ATMs were instrumental in facilitating cash withdrawals, especially for withdrawal of govt’s disbursement of Rs 1.75 lakh crore into Jan Dhan accounts.
A recent RBI data reveals that out of 2.2 lakh ATMs in the country, only 19% ATMs are installed in rural areas where 62% population resides. In such scenario, the role of micro ATMs becomes paramount as its installation will penetration ATM service to the last-mile stretch of country via RapiPay Sathi stores.
About RapiPay Saathis
RapiPay’s payment solutions are enabled via cash, bank account or mobile wallet with the assistance of a friendly neighbourhood called ‘RapiPay Saathi’.
RapiPay is building the largest network of RapiPay Saathi to provide retail financial services via one-stop payment solution platform to its end customers, in a manner that is simple and secure.
In near future, your nearby retail shops may double up as RapiPay Saathi, thereby bringing banking services to your doorstep while also benefitting the Saathis.
The exponential rise in RapiPay Saathis show its popularity and acceptance among the masses. Today, there are more than 1.25 lakh RapiPay Saathis in the country with more than 3.5 lakh daily transactions. Altogether, this means 10 fold growth in business.
RapiPay Solutions
The Prepaid Payment Instrument is employing the services of shops in your vicinity for addressing customers’ banking needs at their doorsteps.
These are 4 handy solutions which are propelling its growth:
RapiPay
Payment solution allows users to easily and safely send or receive money or pay utility bills – using cash or a bank account or a RapiPay mobile wallet
RapiCash
RapiPay Mobile Point of Sale Device is used to perform all services. It enables customers to withdraw cash using RapiPay Micro ATM or using Adhaar Cards.
RapiInsurance
This service is for purchase of General, Life and other Insurance policies from extensive selection of plans.
RapiBooking
It helps customers book tickets for Flights, Hotels, Trains and Bus travel and more.