Zenpay Solutions: Digital Bank to Transform Employee's Life
Founder & Director
Coming with robust expertise in the banking domain and being exposed to various verticals in the finance sector, Ankit Bhargava noticed the imbalance in the secured transactions and observed the scenario where employees (Blue Collared) don't have a facility of Zero Balance salary account. With the idea to aid them and meet the government's target of turning India as a digital nation he established Zenpay Solutions in the year 2019.
The company offers the most convenient method of digital payments to both
Zenpay Solutions is eyeing to clock around 11 lakh customers in the next 3 years while joining hands with around 5000 corporates
The company was ideated to provide salary processing services for the corporates. In addition, they also provide a salary card/digital salary account to the employees. "We have developed a portal through which they can process the salary. As several companies in the corporate sector deal with huge manpower, it is hard for them to manage the salary account of individual data. Our portal deals with data efficiently and helps the companies to administer the employee database effectively," he exclaims. Catering to employees, it provides provision for a digital zero balance account, a single smart card to manage all the expenses. The card allows the user to transfer money to any bank accounts with no extra charges applied.
By continuously discovering, innovating, testing, meeting people in the market to understand their needs they launched the first product in May 2019. It managed to open around 700 accounts immediately after the product launch. At present, the company serves around 35k customers with 280 corporate tie-ups. Salary of INR 75Cr has been processed through Zenpay channel in the short span and captured the market in Rajasthan, Haryana, Delhi NCR, Uttarakhand, Himachal Pradesh, Uttar Pradesh and Gujarat.
The brand is eyeing to clock around 11 lakh customers in the next 3 years while joining hands with around 5000 corporates. It is also looking forward to marking the presence in various parts of the states like Karnataka, Maharashtra, Madhya Pradesh, and build operations in countries like Indonesia, Bangladesh, Srilanka, China, and several others. Enhancing the service portfolio it will soon launch a product called Beyond Boundaries, and also offer insurance schemes or loans of minimal interest for the clients in the future.