Digital Financial inclusion for the masses – Building a Digital Bharat for the Micro Finance / NBFC companies

The micro finance companies are playing a yeoman role in helping the country’s mission to reaching a USD 5 trillion economy by lending to the bottom of the pyramid, who today are outside the formal credit? lines from the banks. And with 99.9% of their beneficiaries being women, they are generally excluded from the digital financial inclusion ecosystem – 90% of these beneficiaries are on a keypad phone, with no tech stack for digital financial inclusion.

?While the disbursements from the Micro Finance (MFI) / NBFC companies remains digital, the EMI collection is 95% cash at the last mile with the Field officers collecting in cash and depositing into the MFI / NBFC bank account / collection agency account. the companies in India include Satin Creditcare Network Limited Muthoot Microfin Arohan Financial Services Limited Midland Microfin Ltd SATYA MicroCapital Limited @LNT Finance Annapurna Finance Pvt. Ltd. IIFL Samasta Finance Limited Avanti Finance Spandana Sphoorty Financial Limited Bharat Financial Inclusion Limited (100% subsidiary of IndusInd Bank Ltd.) Ujjivan Financial Services Pvt Ltd. Share Microfin Ltd Bandhan Bank and more... and with a collective beneficiary base of over 70+ mill.

?Our digital financial inclusion tech stack for the GSM keypad phones (@airtel Vodafoneidea.com BSNL LTD networks) and the Jio smart feature phones ( @Jioprima devices) enables digital EMI payments for their beneficiaries, with digital access to multiple bank accounts ( Prime Ministers Jan Dhan Yojna - @PMJDY and the MFI mapped accounts) and join the mainstream digital India services.

Explore with us to take your digital financial services to this customer segment – its over 70+ mill unique users as on date and is a huge gap in the Digital India mission. The stack includes :

-????????? UPI and Bill payments

-????????? Money transfers and merchant payments

-????????? Digital EMI payments for the micro finance / NBFC companies

?What we can do on these basic keypad phones :

???????????? The sample menu UI

Sample applications :

·?????? Use case 1: Bill payments – the BBPS ecosystem

·?????? Use case 2: Fund transfer P2P

·?????? Use case 3: Fund transfer P2M

?And on the Jio Smart feature phones :

·?????? Use case 1 : Scanning a payment QR code

·?????? Use case 2 : Bill payments