Su­vidha In­fos­erv ................................

Also in­tends to launch white la­bel ATMs:

Banking Frontiers - - Highlights -

Su­vid­haa In­fos­erve, has been a trend­set­ter with its ro­bust and eas­ily ac­ces­si­ble plat­form that of­fers every house­hold, a world of ser­vices within the neigh­bor­hood. Now, it has come up with yet an­other game chang­ing con­cept.

FI­NAN­CIAL SER­VICES STORES

Known for pro­vid­ing fi­nan­cial ser­vices to a very wide base of cus­tomers, pri­mar­ily at the bot­tom of the pyra­mid, it is now set to es­tab­lish very spe­cial stores in the coun­try. These stores will op­er­ate as ‘fi­nan­cial ser­vices hub’ to en­able cus­tomers to avail all the fi­nan­cial ser­vices at one place. Paresh Ra­jde, founder & chair­man, says the com­pany plans to open more than 5000 such stores in the next 15-18 months. The cus­tomers will be able to ac­cess fi­nan­cial ser­vices right from money trans­fer and pay­ing util­ity bills to mak­ing MF in­vest­ments, in­sur­ance in­vest­ments, avail­ing loans, etc, says he.

With over its 22,000 ex­ist­ing out­lets, Su­vidha In­fos­erve pro­vides last mile de­liv­ery to its 40 mil­lion unique cus­tomers con­nected through mul­ti­ple tech­nol­ogy en­abled de­liv­ery plat­forms – PCs, mo­biles and tablets. Says Ra­jde: “We have pro­cessed trans­ac­tions worth al­most $4.5 bil­lion since in­cep­tion in 2007, serv­ing cus­tomers at last mile, with a reach over 9000 pin codes.”

TIE-UP TO DE­PLOY WLA

As an in­te­gral part of its plat­form, the com­pany for the first time is adding ATM ser­vices, which will fur­ther drive ATM pen­e­tra­tion in semi ur­ban and ru­ral lo­ca­tions. Says Ra­jde: “We plan to es­tab­lish 1000 ATMs in the first phase across Ma­ha­rash­tra, Gu­jarat and Delhi. We have tied up with Hi­tachi Pay­ment Ser­vices to de­ploy these ATMs at its flag­ship out­lets.”

The growth of white la­bel ATM (WLA) ser­vices has been very poor. Ra­jde claims that with its cur­rent part­ner­ships, the com­pany is well placed to cap­ture the white la­bel ATM mar­ket at op­ti­mal set-up costs as its strat­egy is in­tended at co-shar­ing the in­fra­struc­ture.

RE­TAIL­ERS’ IN­COME

Su­vidha In­fos­erve has been pro­vid­ing a bou­quet of as­sisted fi­nan­cial and pay­ment ser­vices and more re­cently, mer­chant ac­quir­ing ser­vices and dig­i­tal lend­ing, cater­ing to a very wide base. This has helped the re­tail­ers to widen their ser­vice and prod­uct of­fer­ings.

Ra­jde claims: “We have helped 90,000 un­or­ga­nized re­tail­ers pan-In­dia to im­prove their in­come by 10-times by mak­ing avail­able an en­tire bou­quet of ser­vices to of­fer to peo­ple. These re­tail­ers have found busi­ness vi­a­bil­ity by of­fer­ing a wide range of as­sisted ser­vices to the ru­ral and ur­ban poor and those who need as­sis­tance in mak­ing card or on­line trans­ac­tions. The as­so­ci­a­tion with us has made op­er­a­tions of small re­tail­ers, in­clud­ing those in re­mote or ru­ral ar­eas, vi­able and sus­tain­able, fetch­ing faster ROI for them and pro­vid­ing liveli­hood pro­mo­tion.”

CROSS SELL­ING BRANDS

With the op­por­tu­nity to as­so­ciate with lead­ing brands, re­tail­ers will be able to widen their pres­ence pan-In­dia so that they can cre­ate ex­cel­lent cross-sell­ing and up-sell­ing op­por­tu­ni­ties, ad­di­tional foot­falls, cus­tomer re­ten­tion. They will be able to lever­age Su­vid­haa’s brand part­ner­ships for of­fer­ing var­ied ser­vices – rang­ing from ATM trans­ac­tions to buy­ing white goods and in­vest­ing in stock mar­kets through the mu­tual fund in­vest­ment route. “Our part­ner­ships with over 300 lead­ing na­tional and in­ter­na­tional brands, in­clud­ing Reliance Mu­tual Fund, Hi­tachi Pay­ment Ser­vices, Ama­zon, LIC and IRCTC, will en­able the re­tail­ers to of­fer mul­ti­ple prod­ucts and ser­vices from a sin­gle point to a tar­get au­di­ence that com­prises peo­ple who re­main un­served by the banks and fin­techs, and are still mostly out of the am­bit of dig­i­tal eCom­merce due to sev­eral rea­sons, in­clud­ing slack of un­der­stand­ing and il­lit­er­acy,” says Ra­jde.

Su­vid­haa re­cently won MetLife Foun­da­tion In­clu­sion Plus Award 2017. It was was run­ner-up for AS­CENT Award for En­tre­pre­neur of the Year 2016. Ear­lier, it has also re­ceived In­clu­sive Busi­ness Leader Award by In­ter­na­tional Fi­nance Cor­po­ra­tion, and Busi­ness Achiever (SME) Award by the ICAI.

SME EN­TRE­PRE­NEUR LOAN

A re­cent study sup­ported by JP Mor­gan in­di­cates that fin­tech com­pa­nies in In­dia have suc­ceeded to cater to only 23% of the elite/af­flu­ent sec­tion of the In­dian econ­omy while a huge por­tion still re­mains un­tapped. Su­vid­haa In­fos­erve has been pi­o­neer­ing in­no­va­tive ideas and rolling out ser­vices to tap the seg­ment of the so­ci­ety that com­prises dig­i­tally un­banked and users who re­main un­served or un­der­served by fin­techs.

Ra­jde main­tains that he sees value is serv­ing this seg­ment, which is po­ten­tially a large user base of over 1 bil­lion peo­ple who are yet to be fi­nan­cially in­cluded. “We are also launch­ing Su­vid­haa En­trepreneur­ship Pro­gram, to meet the fi­nanc­ing needs of small and mi­cro en­trepreneurs, espe­cially in ru­ral and semi-ur­ban ar­eas,” says he.

Paresh Ra­jde is con­fi­dent Su­vid­haa is well placed to cap­ture the white la­bel ATM mar­ket at op­ti­mal set-up costs

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