Having a State Bank account that wasn’t net enabled made
Abhishek Nayak realise there was a large chunk of people who didn’t have access
to online transactions or would rather pay cash. After reading that many
customers of online bus ticket service Red Bus booked electronically but
preferred to pay in cash, Nayak convinced the company’s founders — his seniors
from BITS Pilani — to let him collect the cash from customers as a pilot. Arpit
Mohan came on board to help with the technology and Gharpay was incorporated in
April 2011. The company collects cash from customers at their doorstep in 900
pincodes across 14-15 cities.
It’s now got over 190-200 customers mostly in the e-commerce
space (companies like Red Bus, Cleartrip, Times Classified and Fetise) and
reaches out to about 15,000 people a month. Gharpay collects about Rs.4 crore
of cash every month on behalf of its customers and collects a fixed fee plus a
percentage, depending on transaction volumes. It specialises in dealing with
companies that have digital goods such as tickets, coupons or classified
bookings. “We’re a payment solutions company rather than a logistics player,”
says Nayak.
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