Add convenience to the transaction through assistance of the retailer
June 2016: Bringing the marketplace closer to the rural and semi-urban consumer with convenience, Payworld – the digital payment firm has launched Payworld Bazaar to help them shop via an assisted e-commerce model with the help of retailer.“With over 50,000 SKUs (stock keeping units) and growing rapidly, the Payworld Bazaar would be available through the company’s network of 60,000 retailers. Our retailer outlets would help aspiring consumers without fancy electronic gadgets to open a digital wallet account to make online payments, especially in the rural areas and assist such consumers to undertake hassle free online e-commerce transaction without any technical glitches,” said Praveen Dhabhai, COO of Payworld.
Assisted e-commerce has the potential to penetrate the semi-urban and rural markets for such services to help it achieve the next level.
As per the Global Retail E-commerce index, only 39 million India or less than 3% of India’s population has undertaken an e-commerce transaction online indicating a huge upside potential.
“We at Payworld are the of the strong and firm opinion that the assisted e-commerce has the potential to multiply the market size of the nascent e-commerce market place several times, “ Dhabhai said.
Avoiding the conventional online payment route, Payworld’s digital wallet has emerged as a powerful medium for folks in rural and semi urban areas to make purchases off the net.
Through a network of competent young tech savvy youths from the neighborhood stores from the grocery to pharmacy store owner, Payworld is in the process of raising its retail outlets to 3 lakh in the next few years. These retail outlets linked to Payworld Bazaar will use their electronic processing platform to do multiple internet transactions and help people shop online, Dhabhai said.