What is Pay1 merchant?
Pay1 merchant is an app specially designed and developed to boost the businesses of the micro-retailer 'dukandar' of India.
Who can use this app?
This app is for all the micro-retailers right from any kiranawala, general stores, mobile store, stationery store, medical store, etc. Every retailer of India can use this and increase their earnings.
How to use the app?
To become a Pay1 retailer, you have to download this app, sign-up as a retailer, and activate our free 'Aatmanirbhar' membership plan or opt for paid plans for better benefits like higher commission & discount on hardware products, etc. Once done, start availing our services.
What benefits do retailers get?
– Retailers earn tokens on each and every transaction
– Tokens can be redeemed for cash back and other discount vouchers
– Earning commissions every transaction
– Account, reports & invoice management
– More business growth as more customer footfall
Services available in this app:
Money Transfer: Provide easy and fast domestic and Indo-Nepal money transfer service in any bank using the Pay1 app.
UPI Payment - VPA/QR code: Now each Pay1 retailer can accept payments with QR code through UPI, quickly and seamlessly.
Bill payments: Do Utility bill payments for your customers efficiently and quickly of more than 10 companies, through your mobile and desktop.
Micro-ATM: Now your customers can swipe and withdraw cash through this service. Get yourself the Micro-ATM kit and convert your shop into an ATM.
mPOS: Accept cashless payments easily with this app. Accept payments through debit/credit cards and provide cash withdrawal and earn great commissions through the same.
AePS: Transform your shop into an ATM. Various banking services like cash withdrawal, cash deposit and balance enquiry are just a fingerprint away.
Cash Collection: Increase your monthly income by providing payment collection service in your shop for businesses viz. Swiggy, Dunzo, Zomato, Cashify, etc.
EMI Collection: Similar to cash collection, provide monthly premium or instalments collection service in your shop for banking and NBFC's like Home Credit, Capital First by IDFC, Adhani Capital, L&T Finance, etc.
Recharge: Mobile and DTH recharge are now available at the Pay1 app. This service gives retailers the opportunity to do recharges at the convenience of their shop and earn more, with uninterrupted service quality and fast transaction speed even during peak hours.
PAN Card: Retailers can carry out all the necessary procedure required for applying for a PAN Card on behalf of the customer and earn great commissions through the same.
Insurance: Through this service, the retailer can provide a number of insurances to their customers like Motor insurance, Mobile insurance, General insurance covering Cardiac, Cancer, Personal accident and term insurance.
Travel booking: Pay1’s travel booking platform helps the retailers to provide their customers with travel and hotel booking services at a reasonable price. You can book air tickets, train tickets through IRCTC portal, hotel bookings and tour packages with ease.
Loan: We facilitate loans to a borrower through our digital platform. All the loan requests are subject to approval.
Principle amt range: Rs 2,000 to Rs 5,00,000.
Tenure: 6 months - 24 months
Maximum ARP (Annual Return Percertange) is up to 33%
Interest Rate: 12% - 30% flat P.A.
Processing Fees: 1.5% - 3%
For eg, loan processed with a principal amt of Rs 50,000 payable in 12 months, you will have to pay interest of Rs 7,500 (15% P.A flat) & processing fee of Rs 1,180 (including 18% GST of the processing fee, which is Rs 180), the total amount due would be Rs 58,680.
This release may come in several variants. Consult our handy FAQ to see which download is right for you.
October 8, 2020
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