Easy Pay | Solly labs

October 16, 2018 - Comment

www.sollylabs.com In India, people have a new part time job… paying bills. Accept… they don’t get paid. To the contratry, when bills are due, people who need to reach a payment center face travel expenses, traffic jams, long queues, lost time at work, and even late payment penalties. The average distance traveled per year is

www.sollylabs.com

In India, people have a new part time job… paying bills.
Accept… they don’t get paid.
To the contratry, when bills are due, people who need to reach a payment center face
travel expenses, traffic jams, long queues, lost time at work, and even late payment
penalties.
The average distance traveled per year is 250 km, while the average cost of paying one
single bill is Rs. 15-20. And the usual wait is 15-30 minutes which is repeated nearly 60
days a year!
And it’s no easier for the service providers who spend money on staffing and supporting
payment centers, having to deal with collections, which shrinks resources that are
needed to meet the core business objectives.
On an average, the cost of collecting a single bill has risen Rs. 20.
We aspire to provide best solution for this messed-up situation.
Introducing Easypay.
Easypay is a Multi-Utility Bill Payment Solution Provider.
It is a unique and effective bill-paying platform that allows customers to pay all their bills
at a local store under one umbrella.
Customers can pay for electricity, gas, insurance, telecommunications, transportation,
cable TV and Internet, e-Governance, and other household bills at grocery stores,
medical shops, pan parlours, petrol pumps, website & mobile apps… the locations are
unlimited!
Utilities save money on staffing and overhead since their customers can use a simple,
advanced Point-of-Sale device at a convenient location.
This untapped business opportunity has explosive potential because of pent up demand
by consumers, utilities, and retailers who would benefit from increased income and
traffic into their stores.
Consider that India’s top 20 cities produce more than one third of the 100 billion bills
generated in India.
Of particular interest is Gujarat’s Billing Market where the top 4 cities generate
approximately 1.5 billion bills per year out of which more than 85% of bills are paid
through physical outlets.
As per our pilot studies in different cities of Gujarat, with a 40% penetration in Gujarat
Bill collection market, we can collect bills amount to Rs. 36000 crores a year and at an
estimated operating profit of 1%, EasyPay is expected to generate Rs. 360 crores in
revenues.
The same model can be replicated in every state at the click of a button. Now imagine
the gigantic potential this brings if it is operated pan-India.
the EasyPay system is created with a modular archietecture which makes it a secure
private party payment gateway that is also endorsed by RBI. Any new service provider
can be added across EasyPay network within minutes.
Also part of this unique platform is the potential for additional revenues for its
stakeholders. The Easypay point of sale device can be used to advertise and promote
products and services, offer coupons, issue rewards, and more.
More imporatantly, Easypay generates valuable analytics on demographics, consumer
spending patterns, and feedback to increase brand awareness and customer retention.
Over the long term, the big data analytics module alone will serve as a lucrative,
ongoing business opportunity to aid in marketing improved products and services.
Easypay… it’s the smart way to pay bills.

 


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