Bangalore, 21 March, 2017: Novopay Solutions, are putting e-wallets in your local kirana store. The company has tied up with around 45,000 kirana stores across India to ensure financial inclusion. With the recent developments of demonetization and the government’s push towards a digital India, the shift towards a cashless society is imminent. Digital wallets and payment applications like Novopay are looking to use this push as their biggest strength on their way up the ladder.
By using the established system of neighborhood retail stores or kiranas, Novopay helps people transfer money to one and other. Whether you are a friend who wants to send money to your other friend or a migrant construction worker looking to send funds to your family back home, Novopay makes it easier.
The beauty of Novopay is that its benefits happen two-fold. Apart from helping the population send money, Novopay also helps the kirana stores with some shop owners claiming a drastic increase in customer base but also a big increase in earning additional income. With a mobile, anyone can open an account in a kirana store to become part of Novopay.
People can open an account in a Novopay-connected store and deposit, transfer, and withdraw money. Every transaction that the grocery store owner does is authenticated through Aadhaar card. The customer just needs an ordinary mobile phone and Aadhaar card as identity proof to open a Novopay account.
Novopay pioneers a new way of electronic transactions at Retail – empowering businesses, merchants and consumers with technology forward solutions. We make banking and payments convenient, simple and safe. Novopay was founded in 2014 by Srikanth Nadhamuni, Gautam Bandyopadhyay and Sridhar Rao. With a mobile, anyone can open an account in a kirana store to become part of Novopay. Money is transferred to any bank account or store in the network. The payee can receive money by just showing an SMS.