India’s journey towards digital transformation has been nothing short of remarkable. With the government’s visionary initiatives and technological advancements, the nation is rapidly becoming a digital powerhouse. One of the significant contributors to this transformative journey is PayNearby, a fintech company that simplifies financial transactions for individuals and businesses alike.
In this comprehensive guide, we will delve deep into PayNearby’s offerings, its impact on financial inclusion, the registration process, various services, benefits for retailers and distributors, income potential, and customer support. Join us on this digital voyage as we explore how PayNearby is shaping India’s financial landscape.
Main Topics
A Glimpse into PayNearby’s Origins
PayNearby’s inception in April 2016 marked a significant milestone in India’s fintech landscape. The company was born out of the collaborative efforts of a team of experienced professionals from the digital banking industry. Recognized and certified under the Department for Promotion of Industry and Internal Trade (DIPP) as a fintech trailblazer, PayNearby has continued to evolve, impacting thousands of pin codes across the nation.
PayNearby operates within a burgeoning digital financial ecosystem, offering a wide array of services to retailers, distributors, and consumers. At its core, PayNearby seeks to empower local retail establishments, providing them with the tools and technologies necessary to embrace digital transactions. This not only fosters financial inclusion but also ensures that individuals in even remote areas have access to modern financial services.
Exploring PayNearby’s Service Portfolio
PayNearby’s service portfolio is vast and diverse, catering to the unique needs of various communities. These services encompass digital payments, money transfers, insurance, cash withdrawals, deposits, savings, and much more. What sets PayNearby apart is its simplicity – all these services can be accessed and utilized using just a smartphone and an Aadhar card. Let’s take a closer look at some of the key services offered by PayNearby:
- Digital Payments – PayNearby facilitates seamless digital payments, allowing retailers to accept payments via fingerprints or Aadhar, thereby enhancing the customer experience.
- Money Transfers – With PayNearby, money transfers become hassle-free, enabling users to send and receive funds securely.
- Insurance Services – PayNearby extends insurance solutions, empowering individuals to protect themselves and their loved ones.
- Cash Handling – Retailers can offer cash withdrawals and deposits, making banking services accessible to even the most remote communities.
- Savings and Investments – Through PayNearby, individuals can open savings accounts and explore investment opportunities, promoting financial literacy.
Retailer and Distributor Benefits
PayNearby extends a multitude of benefits to both retailers and distributors, making it an attractive platform for those seeking to augment their income and contribute to financial inclusion.
Retailer Benefits
PayNearby’s retail option is diverse, accommodating various businesses such as mobile recharge stores, restaurants, tailoring shops, and insurance agencies. Retailers can enjoy a host of advantages, including streamlined sales management, digital service rewards, the ability to offer ATM services, and simplified sales reporting. The platform continually enhances its offerings, promising even more benefits in the future.
Distributor Benefits
Distributors, too, find immense value in partnering with PayNearby. Irrespective of their industry, be it FMCG, retail, dairy, pharma, hardware, or telecom, PayNearby provides an effortless setup process. Distributors can expect timely onboarding, access to multiple services under a single roof, and the potential for a steady income stream. With just a handful of retailers, distributors can significantly augment their earnings.
Navigating the Registration Process
Registering with PayNearby is a straightforward process, designed to be accessible for all. Whether you wish to become a retailer or a distributor, the steps are clear and concise.
Distributor Registration
- Visit the Official Portal: Begin by navigating to www.paynearby.in.
- Choose “Distributor Program”: Locate this tab at the top of the page.
- Complete the Application Form: Fill in your details, including your name, email, mobile number, and current business.
- Submit Your Application: Click the “Go” button.
Once your application is submitted, PayNearby’s dedicated professionals will promptly reach out to you through the provided mobile number. They will guide you through the registration process and furnish you with your unique UID and password, granting you access to your profile.
Retailer Registration
For aspiring retailers, the registration process begins with a simple missed call to 1900 3000 2030. A callback is initiated, facilitating registration and providing login credentials for accessing the profile.
Choosing the Ideal Service Package
Post-registration, selecting the appropriate service package is crucial. PayNearby offers flexibility, allowing you to tailor your package to suit your specific requirements. The basic package, priced at Rs. 1000, encompasses a comprehensive range of services, including banking, digital tools, utility payments, insurance, travel services, online offerings, and partner services. Additionally, you can enhance your package by adding two supplementary services:
- Aadhar Biometric Device: At an extra cost of Rs. 1700.
- IRCTC: Available at an additional charge of Rs. 2000.
These customization options ensure that your package aligns perfectly with your business needs.
Accessing PayNearby via Mobile App
PayNearby understands the importance of accessibility, which is why it offers a user-friendly mobile application. This app allows users to access PayNearby’s services conveniently from their smartphones. Here’s how you can obtain the app on your Android device:
- Get the Application Link: Visit the official PayNearby portal and provide your mobile number to receive the application link via SMS.
- Locate the Application Link: Alternatively, scroll down on the portal’s homepage and click the Google Play store link for direct download.
- Search on Google PlayStore: If you prefer, search for “PayNearby” directly on the Google Play store and install the application. Be sure to choose the correct app, as there are multiple offerings under the PayNearby brand.
Unveiling the PayNearby Commission
PayNearby retailers have the opportunity to earn commissions on various activities, ranging from cash withdrawals and mini statements to mobile and DTH recharges, money transfers, insurance sales, and travel bookings. The commission amount varies depending on the transaction’s value, providing retailers with a flexible income stream. This income potential has attracted countless retailers to the PayNearby platform, making it a viable avenue for augmenting their earnings.
Understanding the PayNearby Income Calculator
Whether you’re a retailer or a distributor, understanding your potential income is essential. PayNearby offers a comprehensive income calculator to help you estimate your earnings accurately. Generally, retailers can anticipate earning upwards of Rs. 15,000 per month, while distributors managing a group of around six retailers can potentially secure approximately Rs. 50,000 per month. Here’s a detailed breakdown of potential earnings for different services:
| Services | Retailer (Income with No. of Daily Transactions) | Distributor (Income with No. of Daily Transactions) |
| Digi Smart Transfer | Rs. 19/- with 1 daily transaction | Rs. 22.80/- with 3 daily transactions |
| Money Transfer | Rs. 20/- with 1 daily transaction | Rs. 31.92/- with 4 daily transactions |
| Aadhar ATM – AePS | Rs. 7/- with 1 daily transaction | Rs. 3.00/- with 4 daily transactions |
| Micro ATM | Rs. 7/- with 1 daily transaction | Rs. 3.00/- with 4 daily transactions |
| Mobile Recharge | Rs. 4/- with 1 daily transaction | Rs. 0.90/- with 2 daily transactions |
| DTH Recharge | Rs. 4/- with 1 daily transaction | Rs. 0.60/- with 2 daily transactions |
| Bill Payment | Rs. 1/- with 1 daily transaction | Rs. 1.00/- with 2 daily transactions |
| Savings Khata Insurance | Rs. 65/- with 1 daily transaction | Rs. 15.00/- with 1 daily transaction |
| Bike Insurance | Rs. 55/- with 1 daily transaction | Rs. 40.00/- with 2 daily transactions |
| Group Personal Accident | Rs. 50/- with 1 daily transaction | Rs. 18.00/- with 1 daily transaction |
| HospiCash | Rs. 70/- with 1 daily transaction | Rs. 30.00/- with 1 daily transaction |
| Domestic Flight Ticket | Rs. 42/- with 1 daily transaction | Rs. 15.40/- with 2 daily transactions |
| Rail AC | Rs. 40/- with 1 daily transaction | Rs. 15.00/- with 3 daily transactions |
| Rail Non AC | Rs. 20/- with 1 daily transaction | Rs. 10.00/- with 2 daily transactions |
| Bus | Rs. 28/- with 1 daily transaction | Rs. 50.00/- with 1 daily transaction |
| Hero FinCorp | Rs. 5.20/- with 1 daily transaction | Rs. 4.80/- with 1 daily transaction |
| Swiggy Agent | Rs. 6/- with 1 daily transaction | Rs. 6.00/- with 1 daily transaction |
| L&T | Rs. 3.30/- with 1 daily transaction | Rs. 1.80/- with 1 daily transaction |
| Bajaj FinCorp | Rs. 4.60/- with 1 daily transaction | Rs. 4.20/- with 1 daily transaction |
| AmazonEasy | Rs. 35/- with 1 daily transaction | Not applicable |
| Flipkart: Delivery Services | Rs. 10/- with 1 daily transaction | Not applicable |
| JobsNearby | Rs. 10/- with 1 daily transaction | Rs. 9.00/- with 3 daily transactions |
Availing PayNearby’s Customer Support
For users encountering challenges during registration, login, or service utilization, PayNearby’s dedicated customer support team is readily available through multiple channels. Ensuring a seamless experience is a top priority for PayNearby.
Online Form Submission – Users can fill out an online form on the PayNearby portal, providing details about their query or complaint. The PayNearby team will then promptly get in touch with the user to address their concerns.
Email Correspondence – For direct email correspondence, users can reach out to the customer care team at customer[email protected], ensuring a swift response to their inquiries.
Telephone Assistance – For immediate support, users can contact PayNearby’s customer support team at the number 033-6690 9090, to receive real-time assistance.
In the ever-evolving digital landscape of India, PayNearby stands as a beacon of financial inclusion. With its diverse array of services, commitment to empowering local retailers and distributors, and potential for substantial earnings, PayNearby has become an integral part of India’s digital financial ecosystem.
As the nation continues its journey towards becoming a digital superpower, PayNearby will undoubtedly play a pivotal role in ensuring that every individual and business has access to the benefits of a digital financial world. Join the PayNearby revolution and embark on a journey towards financial empowerment in the digital age.