Paytail: Bridging the Gap Between the Customers & Merchants via End-to-End Financial Solutions

Amit Kumar Chaturvedi & Vikas Garg,Co-Founders

Vikas Garg


Gone are those days when one had to save up over months to buy a product. Today, deals and offers by the plenty and the convenience of shopping without having to spend paper currency have made it easier to get exactly what one wants. The 'Buy Now Pay Later (BNPL), which has primarily been popular in the purchase of consumer durables, has made inroads in newer categories with the Equated Monthly Installments (EMI) facility finding relevance in several other products. The growing EMI economy creates opportunities for small businesses that have not been using check-out finance as an incentive for their customers until now. And while online retailers leverage technology to make the most of the upward trend, offline retailers are also catching up. The development of new capabilities has empowered nimble EMIs to plug the gap in the financial market and provide financial services to under-served customers and communities.

Significantly, one of the fastest flourishing fintech companies enabling instant digital finance and easy EMI's across millions of merchants with affordability and convenience is Paytail. Paytail was co-founded by Amit Kumar Chaturvedi and Vikas Garg with the vision to create the largest retail Fintech in India. Apparently, the inception seed was sown two years ago when Vikas Garg was traveling home in cab.
The car's quality was lacking, and there was a lot of buzzing noise emanating from within. Vikas eventually inquired about the buzzing sounds with the driver, who said that the tires were worn out and he lacked the financial means to repair them.

While EMIs have been a common occurrence in consumer durables, Vikas realized that many other areas of the economy, are underserved. Basis it, Amit and Vikas began researching the industry. During the investigation, they discovered that there are millions of retailers with tiny offline merchants accounting for 95 percent of our country's retail sales, who fail to compete on a level playing field because they lack the tools to at-tract customers. The though led to the genesis of Paytail as a firm that bridges the gap between merchants and consumers and helps merchants scale-up the business.

Paytail India fastest growing BNPL brand, booming with the commitment to deliver technology-driven financial solutions

Bolstering the Offline Retail
Paytail is a relatively new company, in the BNPY space and is commited to deliver technology-driven flexible solutions and be a part of the growth story of offline retail. The firm is revolutionizing offline commerce by enabling instant paperless EMIs to consumers as well as transforming the selling experience of the merchants through scalable technology solutions. It provides retailers with mobile application-based technology so that they can start providing clients with affordable EMI and cash-back options. From the merchant's standpoint, the entire experience is completely digital, from onboarding (which takes about 30 seconds), through the transaction, to payment receipt. To top it off, the merchant doesn't even have to follow up with any of the guys to get the money, since the platform pledges to settle the full amounts into the merchant account in less than 30 minutes.

It is worth noting that Paytail, while being a relative newbie in the industry, is catering to around 70 percent of the whole bicycle market in the country. This entire ecosystem of corporates that Paytail has created thus far represents roughly $10 billion in commerce that is now taking place in the country. And as it forges ahead, Paytail is keenly looking to grow its staff and have at least 2-3 hundred thousand merchants on the network in the next 12 months. And for the capital supply to be in place, the firm is also collaborating with several banks and financial institutions, delivering a very sharp and meaningful value proposition to them as well.