Transerv – Multi-Mode Digital Payment Platform

In the aftermath of the Demonetisation in India, the payment platform is undergoing a lot of changes. The challenge is that payment business is not a delight from a customer’s perspective. Payment is no longer about isolated products but an integrated experience as offered by Mumbai based Transerv.

Different consumer groups could pick and choose products of their choice available over multiple channels. For example an individual consumer could take a mobile wallet and add a bank prepaid card to the mix. Corporates could digitize allowance payments for employees, but also use the company’s digital gifts platform for employee recognition etc. Merchants could use its services to collect payments from customers but also manage rewards and loyalty for customers.

It is possible to enable merchants to create a seamless experience in customer payments. One can manage multiple party settlements and customized payment solutions.

The recent experience of pre-paid card/wallet has been particularly interesting. Transerv also runs “Udio” a Social Mobile Wallet. Udio’s diverse range of services, offers and loyalty rewards, and its ability to quickly onboard customers has enabled the product to be widely distributed. Corporates can digitally handle employee expenses through a simple interface that also simplifies tracking and reporting.

India, a nation with 1 Billion consumers, Multi Mode Payment Platform is surely a way to begin with as the diversity of the country is so large no one solution will fit all and there should be an opportunity for multiple platforms.

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