Bhartipay Fostering Economy Through Online Payments in Northeast India

Bhartipay has focused their business to meet the financial needs of people living in the north-eastern region which cover all seven states. Their services are for anyone who has been deprived of the online mode of payments for their business, bill payments, tax payments, education fees, etc. This includes looking at payments streams P2P and P2B, with an ecosystem assessment that identifies opportunities for fintech and other innovations that solve the last-mile challenges of delivery and usage of digital payments.

 Sakshi Chawla, CEO of Bhartipay, explains how Bhartipay saves time by moving towards online payments that are simple and easy to understand and have the maximum benefit. Further, Bhartipay shall also provide them with the facility on their Doorstep, which will help in increasing the digital footprints and also educate users with basic knowledge of using browsers for manual payment.

 Bhartipay shall endeavour to provide all payment options systems for business. There will be an admin panel for them to check the transactions, maintain the report, manage refunds, link-based payment options, and many other facilities as they develop to provide from time to time. These facilities shall be offered in a phased manner. The availability /non-availability of a particular service shall be advised through the web page of their admin or through written communication or an SMS alert.

 Keeping in mind Digital India and how electronically payments have improved the living of everyone during this pandemic time. E-payment is a mode of payment in addition to the conventional methods of payment offered by Bhartipay without having any implication on the existing procedure of the executive and accounting agencies. To avail to this facility, the basic requirement is an internet connection, net banking facility, UPI activation with any banks listed by the government. This is a 24X7 facility, and citizens can make the payment any time of the day.

 Instant online receipts for payment made with a transaction number are shared on email and SMS. North-east India offers a natural habitat for payment options because of under-penetration and lack of knowledge in these regions. Success rates will be a function of the ability to generate transaction volumes, having a business structure that's light on overheads, and with smart technology. The opportunity lies in domestic remittances, as most of the transactions are still conducted through informal channels. These sets of people can be shifted to formal channels.

 Bhartipay has a strategy for a Digital North East India, which identifies online payments as a key enabler to transform the lives of the 44 million people across the eight North-East states, namely Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura. It enhances their ease of living. This initiative supports the Government of India's broader vision for the North East Region to understand the state of the digital payments ecosystem and opportunities to digitize payment streams by focusing on usage through merchant acceptance points and other applications of fintech innovations.