THE COVID-19 PANDEMIC HAS had a harsh impact on businesses, jobs and incomes everywhere, forcing almost everyone to take stock and reconsider their financial priorities. People are cutting back on discretionary spending and focusing more on saving and investing. Unfortunately, those in the low-income brackets and also those in smaller towns and villages are at a greater disadvantage, majorly due to lack of financial and technological literacy.
There is a dire need to bridge this gap by simplifying banking and digital payment services and financial products, both in their nature and the way they are offered. Nearby Technologies, a hyperlocal fintech start-up, has been tackling this problem by partnering with local retailers by on-boarding them as ‘Digital Pradhans’ and enabling them to provide Aadhaar banking or Aadhaar-enabled Payment System (AePS), bank deposits, insurance, etc, to customers at their store itself, via its app-based platforms, and earn a commission on every successful transaction. For customers, availing these products and services is as easy and convenient as purchasing grocery at a store ‘nearby’!
This story is from the November - December 2020 edition of MARWAR India.
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This story is from the November - December 2020 edition of MARWAR India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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