It's an irony that even after having 95 percent market share in the retail industry, the unorganized retail stores in the country are finding it hard to keep their neck above water. The lack of technology penetration restrains most of them from indulging in the customary modern retail culture. It's quite lucid that the need of the hour is transforming the unorganized retail stores into this dynamic technology epoch, and in turn opening new avenues of growth for them. Using technology as an enabler to engender an organized work environment and introducing a new world of opportunities to the unorganized retail sector in India is Pay1 a retail tech platform. Pay1 brings micro merchants in the center of retail technology by providing them with access to everything from store management solutions to digital payment, BFSI services and even access to new products everything under one roof."The life and struggle of the local shop keepers (micro merchants) in India, who constitute a 50-60 million population, haven't really seen a significant change over the past 15-20 years. Our mission is to enable them to use technology. We onboard an approach that ensures their comfort during the transition process," professes Alakh Naresh Gargiya, CEO, Pay1.
Retail Centric Approaches
Considering the convenience of retailers, the company has crafted its offerings under four major segments. It includes PAY1 MERCHANT (digital payment solution including UPI), PAY1 DIGI(enabling cash deposits/ withdrawal using AePS or Debit/Credit Cards), Pragati Capital(single window to BFSI services including credit),and SHOP1(solution to strengthen the portfolio & logistics capacity). Additionally, Pay1 also helps its clients advertise and brand them-selves through various offline channels to enhance their networks. For instance, if a Mobile store sells only mobiles & accessories, with Pay1, it becomes a one stop solution for payment solutions, along with other moving consumer goods. In other words, customers get more footfalls and increase their revenue. No wonder the platform today is used by more than three
lakh retail shops across 1000 cities in India to reach out to their audiences. This Mumbai based firm also onboards new service quickly based on the retailers'requirements, alongside upgrading & uplifting its network constantly. This ensures its clients have a stable business.
Pay1's customer centric approach is not just about understanding retailers and creating the products to fill the carters, but also about providing them with great user experience and seamless support. Sahdev Yadav, a Pay1 Distributor from Mumbai says, "Pay1 has given an extensive boost to my income. Earlier, I use to earn limited income; but now, after being a part of the platform, I make a good & a steady income with Pay1 services. Today, I have 100+ retailers under me who are using Pay1 services".
Throwing light on the inception story, Alakh avers, "Post the success of our first online distribution approach, we started venturing into offline distribution and found a gap in the distribution process. Due to offline method, several new opportunities failed to reach the small merchants, preventing them from evolving with time & technology". The 2016's demonetization initiated a new culture in the country and acceleration happened in 2017 with more focus on digitization. He adds, "We strive to make all the micro merchants a part of the digitization by bestowing them platforms that help them to grow leveraging the upcoming changes, instead of demolishing under them".
Comprehending the importance of inventory management for local stores, Pay1 today is busy developing an inventory management solution that will enable shopkeepers to keep a track of how many pieces of particular device/category is pushed. Mean while, it is also coming up with an online model/solution, enabling shopkeepers to reach their customers digitally, in addition to a realtime onboarding solution that offers the entire backend report for verification & the assessment process within 24 seconds. Inclusion of more services in the payroll platform and launching a digital awareness channel In the payroll Platfrom and launching a digital awareness channel in order to bring more customers are also on the cards. These distinct approaches aid pay1 to acquire momentum among e-commerce players like flipkart, Amazon, paytm and others.
After establishing its presence in NorthEast India, Pay1 to day is looking forward to expand its footprint across the Southern India."The transaction volume is now broader and has increased by more than twice the amount it was 12 months ago. Also, we are expecting it to rise further and double in the coming year," concludes Alakh. Pay1 looks forward to make more retailer communities the ambassadors of the digital revolution, especially women who look at this promising platform as a new world of microbusiness opportunities.
Key Management
Alakh Naresh Gargiya, CEO
Alakh brings a rich experience at business buildout & turn around management and leads the charter at micro entrepreneurs and inclusive employment opportunities in the retail segment.
Office:Mumbai
Services:Pay 1 Digi, Pay 1 Merchant, Pragati Capital, Travel, & Shop 1
Pay1's customer centric approach is not just about understanding retailers and creating the products to fill the carters, but also about providing them with great user experience and seamless support. Sahdev Yadav, a Pay1 Distributor from Mumbai says, "Pay1 has given an extensive boost to my income. Earlier, I use to earn limited income; but now, after being a part of the platform, I make a good & a steady income with Pay1 services. Today, I have 100+ retailers under me who are using Pay1 services".
Throwing light on the inception story, Alakh avers, "Post the success of our first online distribution approach, we started venturing into offline distribution and found a gap in the distribution process. Due to offline method, several new opportunities failed to reach the small merchants, preventing them from evolving with time & technology". The 2016's demonetization initiated a new culture in the country and acceleration happened in 2017 with more focus on digitization. He adds, "We strive to make all the micro merchants a part of the digitization by bestowing them platforms that help them to grow leveraging the upcoming changes, instead of demolishing under them".
Pay1 on-boards new services quickly based on the retailers' requirements, alongside upgrading & uplifting its network constantly
Comprehending the importance of inventory management for local stores, Pay1 today is busy developing an inventory management solution that will enable shopkeepers to keep a track of how many pieces of particular device/category is pushed. Mean while, it is also coming up with an online model/solution, enabling shopkeepers to reach their customers digitally, in addition to a realtime onboarding solution that offers the entire backend report for verification & the assessment process within 24 seconds. Inclusion of more services in the payroll platform and launching a digital awareness channel In the payroll Platfrom and launching a digital awareness channel in order to bring more customers are also on the cards. These distinct approaches aid pay1 to acquire momentum among e-commerce players like flipkart, Amazon, paytm and others.
After establishing its presence in NorthEast India, Pay1 to day is looking forward to expand its footprint across the Southern India."The transaction volume is now broader and has increased by more than twice the amount it was 12 months ago. Also, we are expecting it to rise further and double in the coming year," concludes Alakh. Pay1 looks forward to make more retailer communities the ambassadors of the digital revolution, especially women who look at this promising platform as a new world of microbusiness opportunities.
Key Management
Alakh Naresh Gargiya, CEO
Alakh brings a rich experience at business buildout & turn around management and leads the charter at micro entrepreneurs and inclusive employment opportunities in the retail segment.
Office:Mumbai
Services:Pay 1 Digi, Pay 1 Merchant, Pragati Capital, Travel, & Shop 1
