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Paynear launches payment app for individuals & small businesses

Hyderabad based Paynear Solutions has launched a payment solutions app called Spot for Android. Through the app, users can make mobile, DTH and datacard recharges, postpaid bill and utility payments, along with landline, electricity bills and insurance policy payments. The Spot app offers services from ICICI Prudential, BPL, Airtel, Vodafone, Idea, Uninor, Docomo, Reliance Mobile, Aircel, Videocon, Mahanagar Gas, MTNL, BSNL, MTS, Virgin Mobile, Tata Indicom,  DishTV, Tata Sky, Sun Direct, Videocon D2H, Big TV, Tata AIG Life, Tikona and T24. The company claims that small grocery, retail, general and paan stores who sign up with Spot can become ‘agents’ of Spot, offering their customers Spot’s services, will be able to earn extra income through commissions on each recharge or bill payment. The ‘agents’ will also be able to book cab, bus, train, flight tickets and hotel rooms. The company said that individuals can also become Spot distributors who can onboard agents to manage these services in their areas of operation, calling it a ‘low investment no risk’ business opportunity. Paynear, which was founded by Anil Bharadwaj V, Maulik Shah and Priti Shah in 2013, offers mPOS solutions, CRM and payment gateway services. RBI’s payments banks approval Mid last month, the RBI granted “in-principle” approval to 11 applicants for payments banks, from 41 applications that it received: Reliance Industries Limited, Paytm, Sun Pharma founder Dilip Shantilal Shanghvi, Fino Paytech, Aditya Birla Nuvo, Department of Posts, Cholamandalam Distribution services (a financial services co), National Securities Depository Limited, and Tech Mahindra, apart from…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

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