Zenpay Solutions: Digital Bank to Transform Employee's Life

Ankit Bhargava,   Founder & Director

Ankit Bhargava

Founder & Director

While digital India and the cashless nation are a major act to drive the countries development it is not being effective the entire nation. The massive population of the country and illiteracy is hindering them from being completely digital and there are very few companies that are building solutions to meet this aim of the government. Among the profuse of such brands that are devising solutions to make India a cashless economy, Zenpay Solutions is a fintech enterprise founded by Ankit Bhargava that aims to provide hassle free digital payment solutions.

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
employees and employers. "With our Zenpay account, the employer gets the advantage of tax compliant payroll processing and an employee gets a streamlined expenditure plan on a safe, trans-parent, and simple platform," says Ankit Bhargava

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.