Transform Your Kirana Shop into a Banking & Digital Service Center

Transform Your Kirana Shop into a Banking & Digital Service Center

With the advent of new technologies and constant change in almost everything, customers are also changing their preferences. People are preferring online shops for everything which is a huge challenge for Kirana shop owners. Still, Kirana stores can’t be replaced easily. If as a Kirana store owner, you are constantly looking for ways to make your shops popular among customers and trying a lot of ways to increase the footfalls in your shop then, you must try to include something profitable for your customers. The Kirana store needs to modernize its store and add value to the customer’s life by transforming your shop into a banking & digital service center. If you want to stand out from all the other shops that are offering customer-relevant goods and services, providing financial solutions will give some extra benefits to you and your customers.

5 Reasons transforming your Kirana shop into a banking & Digital service center can benefit you:

With very little investment you can turn your shop into a banking & digital service provider and attract customers to your shop with little efforts.

  • Promote your Shop
  • More customers will come for banking & Digital services
  • You can earn a good amount as commission
  • Increase your revenue
  • You can able to turn your shop into an ATM booth

The Financial services you can add to your Kirana Store

 Almost 11 percent of the GDP in India is because of the Kirana stores. Here are some services that you can add to increase your revenue and also improving your customer experience.

AEPS (Aadhaar Enabled Payment Services)

 Aadhaar enabled payment services are a bank-led model provided by the National payment corporation of India. It allows users to withdraw cash, enquire bank balance, and avail mini statement from their Aadhaar linked bank account. One can provide these services in their retail shops by installing the software and using the biometric device. The customer needs to provide their 12 digit Aadhaar number and their fingerprint impression. You as a retailer can earn a good commission and earn a monthly salary only by providing AEPS services.

DMT (Domestic Money Transfer):

 You can contact a business correspondent (BC) like iServeU and avail the software or online portal to provide Domestic Money Transfer (DMT) services. It is a fund transfer system that allows an individual to send money easily to anyone residing within India. You don’t have to visit any bank or fill any complicated forms. You as a retailer can provide DMT services to under banked people, daily wage workers, and rural people.  According to the RBI guidelines, the fund transfer charges through domestic money transfer  is 1% of the cash transfer amount that is for Rs. 10000, the transaction charges are Rs.100. Retailers can avail of commission for every successful transaction. You can avail iServeU software to provide quick money transfer services to your customers.

 BBPS (Bharat Bill Payment System):

 Your customers might be tired of visiting electric offices, mobile recharge shops, or other offices for bill payment each passing month.  You can provide a solution to your customers who don’t know how to operate smartphones, people who are old, and people who are regularly visiting different offices for bill payment. BBPS is introduced by the National payment corporation of India to unite the entire bill payment system. Through this system, one can pay DTH, telecom, internet bills, gas bills, electric bills, or any other utility bills easily.  By providing the BBPS service from your retail shops, you are showing your customers an easy way to pay bills of all types. It’s a safe and secure way of bill payment and introduced by the government of India. (People will trust this payment system.)

mATM – Micro ATM:

 After demonetization, Micro ATM is widely used by retailers to provide cash to customers. There are two types of Micro ATM available in the market. Micro ATM with card swipe facility and another one is a Micro ATM with card swipe facility and fingerprint authentication. It acts as a Point of sale for the customers and one can avail of this product from a business correspondent like iServeU. You can avail of micro ATM at just Rs. 2,500 and provide the cash withdrawal, cash deposit, balance inquiry, etc services to the customers. You can easily learn to operate micro ATMs as the only thing you need to know is to connect the device with your smartphone via Bluetooth. Earn commission with every successful transaction.

The Bottom Line:

 You can grow your business and make your Kirana shop popular by adopting digital payment and by offering AEPS (Aadhaar enabled payment system), DMT(Domestic money transfer), BBPS, and mATM services to your customers. iServeU is a business correspondent that offers DMT, AEPS, BBPS portal, and micro ATMs to retailers and agents so they can maximize their reach and provide smooth fund transfer and financial solutions to maximum people.