Had Vijay Shekhar (Paytm Founder & CEO) Got This mail 2 Years Earlier

Hi All,

Two years back written mail (Business idea) today is a new business vertical for Paytm and other startup in the similar space. Paytm recently have got very aggressive with offline business model and they are putting their heart and soul to crack it big time.

( PS: this image is too small to read, keep scrolling)

The idea of Cashless & Card less transaction struck in my mind some 2 years back when a wrote the brief of the concept and sent it to my mentor @Anil Agashe he gave valuable feedback to me but I could not make it big that time.
Today when I see Paytm trying its hand at offline business model I feel " Had I sent this mail  to @vijayshekhar  - Founder & CEO Paytm / One97 or for that matter even to Jack Ma ( @Plaid_JackMa ) :P. I would have been a Millionare ( if thats too much)  atleast a Product manager at Paytm" he would have surely liked the idea and invested in this back in 2014.

Moving ahead, this only encourages me to write and share more of my ideas which will benefit the society and take the Digital India dream to the next level. I just Cut + Copy + Paste my mail below for you to take some clue out of it.

Before you and @vijayshekhar  or @MobiKwik co-founder @BipinSingh or #Freecharge Founder #Kunal_Shah read this article you may also be interested in reading about the biggest untapped market for wallet players like you >>  1 Million Offline traction in a Month. 

As promised here is that mail sent on Mon, Sep 1, 2014 at 8:51 PM

" Hello Sir,

I have tried to explain my idea as clearly as possible still if you have any doubts let me. Please guide me through this. And let me know your views about this Idea.


Scan & Pay

Are you afraid to hand over your Credit cards or debit card to others while making any payment?
Are you sacred to make on-line payments because some hacker might steal your login details ?

With all the new method of cloning your cards or hacking your pc to get you cards data, or afraid that you card might be stolen or simply you may loose it or if not anything else the card gets damage due to poor handling in your wallets and purse.
I have a fantastic alternative to all the problems you read above.
The solution is your smart phone. This application will make it more smart.
With the accelerated use of smart phone in India this  application becomes viable, scalable and most important usable.

Lets understand the working

Consider 3 Elements for better understanding
User:  its any user like you)
Merchant :  the shop keepers or sellers)
Company : the service provide of this scanning mechanism)

To use this payment method
The Company will develop an application. Any Merchant who wishes to use this payment should register with Company,  the Company shall generate a unique QR Code for the merchant this QR will contain information like Merchants info, Bank account number ( this will not be shared with anybody), and other crucial parameters for security  so that no one can create a replica if this QR code.
At the Users end User will download the free application ( this will have QR scanning function ) on Andriod IOs,
After downloading he will have to register. Registration will include information like Complete Name number address. To use this info he will have to link his bank account with through our mobile application to make payments directly to the Merchant. Once this is done he is ready to make payment to merchants in seconds.

How will he use this
For ex. In a restaurants when User has to pay bill he just needs to scan the merchant code, as soon as he scans the  code merchant name will appear along with this an additional field to enter the payable amount will also be present. User simply needs to add the amount and press pay. This will debit the amount from users bank account linked with our application and the amount is credited to the merchant.
A confirmation sms and mail will be sent to merchant and user within seconds.

We can use this to replace the on-line payment, No need to login and enter your card number, password etc. JUST SCAN n PAY.
Use in Restaurants, for Cash On delivery, petrol pumps, on-line bill payments, money transfer and PAY EVEN IF your not virtually present.
The merchants need not carry those big Card swipe machines, you don't need any electricity. Your smart phone does it ALL.

This payment can replace almost all current payment methods if trendy its interactive its effective its useful it has everything to be a Great Innovation. In short you dont even need to carry your wallet. HARD cash >> Plastic Money >> SCAN & PAY

You can go out and shop with just your mobile phone.

Lets March for a Wallet Less India. "

I have no idea how to go ahead with this and whom to approach with this idea. It would be great if you could guide me.

-- 

Thanks & Regards

Akshay Palve 

I am watching closely the Paytm's move on this front and today ET read  "Ressy ties up with online mobile wallets Paytm, Mobikwik"

Wasn't that close to what I was thinking. Hmm!! let wait and watch how Paytm & Mobikwik takes this forward.

That's all Folks!!

I hope you liked it.

Thanks for sparing your time and going through my article.
 If you have any feedback and views do share with me on
palveakshay@gmail.com or
you can buzz or ping me on 8983079790

@kishore_biyani are you reading this "(SSC) SWIFT SELF CHECKOUT "

One of the biggest pain area for a retailers & customers is the long que they have to stand in before check out. Retailers have tried improving every aspect of this to help the customer by increasing the counters, speedy check out process etc. But none of these have help during the rush hours and seasonal peak months.

Below are few reason identified which delay the checkout

1.       Long list of SKU (from a nail cutter to travelling bag)

2.       Bar Code missing

3.       Customer not having change

4.       Making payments through card (card not working, Uses another card)

5.       Vendor not having change (ends up giving chocolate)

6.       Product discount not reflected in bill

7.       Last moment cancellation of product

8.       Last moment addition of product

9.       Argument or discussion with the check out guy

10.   Guy at the counter is not available

11.   Swipe the loyalty card to get points & cashback

Oh my God! Let me come back and shop later, I will buy from the local store, I will never visit a retail shop during a festive offer day. I cannot wait in a que for a single product etc are the reaction of your customer which will eventually hamper your business.

Have you noticed by people prefer online shopping? Quick & Convenient

All these and few smaller issue add to the problem and spoils the experience of the customer waiting in que. Being one of the many standing in that que I came with a concept of SWIFT SELF CHECKOUT ( SSC)

You must be wondering this would be a high technology driven solution which will hit your P&L and impact of which is unknown. STOP. Let me stop your imagination train right there.

APP. Yes that’s the solution simple, user friendly and effective.

Let me make it simple for you

Now what? you must be wondering. So now he walks straight of the store. No actually he does not. He has to go through the security check just to make sure he is carrying only those products which he has paid for.

At the exit counter he displays the QR code of payment to store Manager he quickly scans the products he purchased he cross verifies his billing amount the amount that customer has paid. Once this tallies the customer is happy to go. ZERO-time Lag at the counter.

Customer leaves happily. J

Wait the game does not end over here in fact it starts right over here for the retailer.

If you are a retailer you know it better than me how badly you wanted to know the below aspect of your customer

·         Who is buying (a kid, a girl, mom or dad or grandapa)

·         what is he buying (Products)?

·         how frequent (Frequency)

·         when is he buying (time, day date, month or season etc.)

·         how much (quantity)

All this information will help you understand your business better SSC will enable you to have more control with these metrics in your hand.

• You can push your product to the right customer
• You know if he buys such products
• You can perfectly cross sell him –with instore- offers using an app
• Rewards system can be automated
• Offers and discount can be personalized.
• Special offer to push a specific product to a new user.
• Scope is immense and the experience can be taken to a completely new level. You competitors will be your spectators and your customers will be your guest.

I hope retails like Future Group ( @kishore_biyani ), Reliance, D Mart and many others retailers find this exciting enough. I would love to hear your views and suggestions.

Please share if you liked my article.

You can also bother me on 8983079790 / palveakshay@gmail.com