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Embracing Digital Payments: Facilitating Seamless Transactions for D2C Brands in India A direct model in the new digital age has also proved to be more efficient while ensuring that the brand experience is not compromised. Plus, going D2C is no longer an onerous task which will take months and a dedicated team of professionals. Claro Agro, one of the first few brands to launch a D2C grocery store in India, made the digital shift in less than a week, thanks to ecommerce enabler- Shopify. But beyond adoption, the success of D2C models depends on another crucial factor – digital payments. The rise of digital payments firms in India has set the ground and strengthened people’s trust in online shopping, but more needs to be done. A recent report by RedSeer also indicates significant growth in the digital payments space as Indian economy begins to recover post lockdown. This sector is expected to grow 2x and touch $60 Tn by 2022, “Driven by a continued rise in private expenditure, with retail consumption at the forefront, and a significant increase in digital maturity of the Indian customers.” For instance, Shopify has tied up with PayPal to provide end-to-end solutions for enabling Indian D2C brands and businesses to accept payments from all over the world without any hassles. The powerful combination of Shopify’s easy to use cross-border tools and PayPal’s fast, safe checkout experience can help brands unlock the power of global direct-to-consumer commerce in no time. “Since most D2C brands are new and unknown, trust and credibility needs to be established for consumers to buy and make repeat purchases, especially in terms any concerns regarding payments, product Quality, returns and refunds,” according to Prabhkiran Singh, founder, Bewakoof, which was one of the pioneers in the D2C space, having started off in 2012. The reality is that despite the consumer-side and supply-side momentum to the D2C model, issues and concerns around India’s regulatory frameworks for payments and legal compliances for online brands still overwhelm many new startups and aspiring entrepreneurs.

The shopping and payment landscape in India is rapidly evolving, as consumers are increasingly looking for convenience and rewards in their transactions, pushing the boundaries of traditional retail and payment systems. This shift presents a significant opportunity to innovate, offering a more engaging and rewarding shopping experience. As consumers seek value beyond just the product, the importance of creating a seamless, personalized experience becomes paramount. The integration of digital payment solutions into everyday transactions is crucial. As digital payment methods like UPI gain widespread adoption, there's a growing demand for solutions that not only facilitate payments but also enhance the shopping experience. This demand has paved the way for new business models focused on customer engagement and loyalty, leveraging unique reward systems to attract and retain users. The potential to transform one-time shoppers into loyal customers through such innovative systems represents a significant opportunity in the retail sector. POP, a startup founded in 2023 by Bhargav Errangi, has positioned itself at the forefront of this transformation. The company's #mission is to enhance the shopping and payment experiences for Indian consumers by integrating a unique rewards system. POP has developed POPcoins, an exclusive currency designed to be a central part of a vibrant commerce network. The startup #aims to make shopping and payments more rewarding, bringing convenience and personalization to the forefront of consumer transactions. POP was established by a team of former Flipkart employees, bringing a wealth of experience from one of India's largest e-commerce platforms. The cornerstone of POP's offering is the POPclub app, a UPI payments and shopping platform. The app provides users with 2% cashback in POPcoins on every UPI transaction, which can be redeemed for a wide range of products. This feature enhances the shopping experience by offering tangible rewards for everyday spending. POP's innovative approach and rapid growth demonstrate its potential to significantly influence the retail and payments industry in India. By providing a platform that integrates rewards with everyday transactions, POP is poised to change how consumers view and engage with shopping and payments. The startup's focus on personalization and convenience is expected to set new standards in the market, fostering a loyal customer base and encouraging other businesses to adopt similar models. As POP continues to grow and expand its network, it is set to play a pivotal role in shaping the future of retail and payments in India. Read More: https://popclub.co/

2014: Payments for e-commerce platforms took 1+ hours. 2024: Now they take less than 10 seconds All because of one platform, Razorpay. In 2014, my dear friend, Shashank Kumar, along with his co- founder, were staring down at a frustrating reality. E-commerce in India was booming, but the online payment experience was a complicated process. Slow gateways, limited payment options, and complex integrations strangled growth for both businesses and consumers. 💡The opportunity Razorpay saw : - Speed: Frictionless transactions to keep customers engaged. - Security: Robust infrastructure to combat fraud and build trust. - Simplicity: Easy integration for businesses of all sizes. -  Choice: A comprehensive suite of payment options (cards, wallets, net banking) catering to diverse consumer preferences. 🔋The Solution: Razorpay wasn't just another payment gateway. They concentrated on creating a platform that is centered around developers. > Seamless API Integration: Streamlined integration for developers, reducing time to market for businesses. > Advanced Analytics: Data-driven insights to help businesses optimize payment flows and conversion rates. > Subscription Management: Built-in tools for recurring payments are a vital feature for the burgeoning subscription economy. 🏆And the result? They became market leaders in the industry. > Razorpay now captures over 50% of India's online payments market share, processing billions of dollars annually. > Over 8 million businesses use Razorpay, from established giants like Zomato and Swiggy to countless startups. > Razorpay boasts a 99.9% payment success rate, eliminating friction for both businesses and consumers. > Razorpay constantly innovates, offering features like Instant Split (seamless payouts for marketplaces) and Route (automated vendor payments) that address specific industry needs. Shashank - It has been 10+ years now and the pride and support remain constant -even if we do not get to meet as often as we would have liked to. 😀 IMO, a major reason behind their massive success is their empathy for the business founders - if you look at Razorpay's journey, you will notice that almost all of the products/solutions they have built are built around a problem of a business owner. And that has continued to be their core. From payment gateway to a full stack financial services ensemble - I have seen Shashank working with a bird's eye focus - focus on building great products, and creating value. I wish them the best for the upcoming journey! You truly deserve the best! How big of an impact do you think Razorpay has had in the e-commerce market? #razorpay #casestudy

Photo:REUTERS The company is considering applying for a license. The country’s leading industrial group Adani Group is preparing to enter the e-commerce and payment business including UPI, digital payment, credit card. The group is building a digital business to compete with companies like Google and Mukesh Ambani’s Reliance Industries in the world’s most populous country. According to the Financial Times news, the company’s planning is an exercise to diversify the group’s business into fast-growing consumer-facing markets. Adani has become Asia’s second richest man by amassing a huge infrastructure and logistics network of ports, airports and power. <!-- /8323530/Khabar_Desktop_VDO_1X1 --> Consider applying for a license According to the news, the company is now considering applying for a license to operate on India’s ubiquitous public digital payment network, Unified Payments Interface (UPI), and is in talks with banks to finalize previously announced plans for a co-branded Adani credit card. Sources familiar with the matter said the company is in talks to offer online shopping through India’s fast-growing, government-backed public e-commerce platform, Open Network for Digital Commerce (ONDC). Facilities will be available through consumer app Adani One ONDC and UPI are part of India’s digital public infrastructure stack, which attracts hundreds of millions of users every month and has become popular among groups competing to build consumer technology businesses. According to the Financial Times report, Bengaluru-based tech expert Jayant Kola said that if the move by the Adani Group is finalised, these services will be available through Adani’s consumer app Adani One, which will be launched in late 2024 and will offer travel services such as flight and hotel bookings. PhonePe uses the platform PhonePe already operates a widely used UPI-based payments app, while homegrown conglomerates such as Paytm and Tata offer grocery and fashion shopping through ONDC. Interoperable networks mean companies don’t need to invest in their own proprietary payments or ecommerce platforms as they can transact through other providers. Latest Business News function loadFacebookScript(){ !function (f, b, e, v, n, t, s) { if (f.fbq) return; n = f.fbq = function () { n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments); }; if (!f._fbq) f._fbq = n; n.push = n; n.loaded = !0; n.version = '2.0'; n.queue = []; t = b.createElement(e); t.async = !0; t.src = v; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); }(window, document, 'script', '//https://lnkd.in/dNCd7S6K'); fbq('init', '1684841475119151'); fbq('track', "PageView"); } window.addEventListener('load', (event) => { setTimeout(function(){ loadFacebookScript(); }, 7000); });

Paying simply with Simpl Simpl , a leading buy-now-pay-later (BNPL) player in India founded by Nitya Sharma, has been revolutionizing the online shopping experience for both consumers and merchants. They help merchants increase conversions by 65 percent and Aov by 32 percent. How? 1) With seamless one-tap checkout , simplifying the checkout process with a single tap, eliminating the need for multiple clicks and OTPs, has been a game-changer for user experience. 2) Focus on trust and transparency: Building trust with both consumers and merchants is paramount. 3) Strategic partnerships: Collaborating with over 26,000+ leading merchants across various categories has significantly expanded their reach and user base. Famous known brands like Zomato , Myntra , Zepto , Blinkit , HealthKart and many more accept payment through Simpl. 4) Data-driven credit assessment: Leveraging AI and ML, Simpl ensures responsible lending through comprehensive risk management practices. 5) Competitive edge: Offering interest-free payments and flexible payment options like split-pay and pay-later, Simp has carved a distinct niche in the BNPL market. Simpl's success story highlights the growing potential of the BNPL sector in India, driven by the increasing smartphone penetration and evolving consumer preferences for convenient and secure online payment solutions. Now I know many of you are thinking how do they make money? = Simpl makes money in a few ways: 1) Merchant Fees: They charge merchants a small percentage on each transaction. 2) Late Fees: Users who miss their bill payment date may be charged a late fee. 3) Pay-in-3 Simpl offers a "Pay-in-3" option for some purchases. What are your thoughts on this? #bnpl #simpl #buynowpaylater #india #innovation

Not sure if this is a promotional post for us to https://bit.ly/GetSimpl but I concur completely...the convenience in using Simpl is simply unparalleled! 💯 What is lacking is awareness; I am sure that as more people know about Simpl and actually https://bit.ly/GetSimpl, the expediency of purchasing with 1-click Checkout will be a compelling factor for them to keep coming back to it. Over time, not only will they be using it for all their online purchases (wherever Simpl is accepted), but also recommending it to friends and family. Word of mouth is key in this space, as with many others. 🙌 #bnpl #buynowpaylater #onlinepayments #creditsolutions

How UPI Has Uplifted E-Commerce in India Since its launch by NPCI in 2016, UPI has revolutionized e-commerce in India with seamless, secure, and instant payments. Key Impacts on E-Commerce: 1. Surge in Online Transactions: - UPI transactions grew from 0.2 million/month in 2016 to over 10 billion in June 2024. - Transaction value hit ₹15.34 trillion in June 2024, boosting online retail spending. 2. Enhanced Consumer Experience: - UPI's instant payments reduced transaction failures and improved checkout times. - With over 300 million users, UPI contributes to higher conversion rates for e-commerce platforms. 3. Support for SMEs: - UPI enables small e-commerce players to accept digital payments without hefty fees, promoting growth. - Over 80% of SMEs report increased sales after integrating UPI. 4. Mobile Commerce Boost: - With UPI in mobile wallets and apps, mobile commerce surged, with 70% of e-commerce transactions in 2023 via mobile. - UPI-based mobile transactions crossed 7 billion in June 2024. 5. Impact on Consumer Behavior: - UPI's ease of use encourages frequent online purchases, driving higher average order values. - Its secure framework increases consumer trust in digital payments. 6. Festival and Flash Sales: - UPI transactions spike during major sales events. In 2023, festive season transactions surged by 200%, boosting e-commerce sales. As UPI evolves with features like UPI 2.0 and international transactions, its role in e-commerce will strengthen. UPI is driving India towards a $200 billion digital economy by 2025, showcasing how digital payment solutions can uplift entire industries. #UPI #Ecommerce #DigitalPayments #Fintech #DigitalIndia #UPIRevolution #OnlineShopping Data source: Economic Times

🗞️Digital Payments in E-commerce in India: Transforming the Marketplace 🇮🇳 ⦿ As a seasoned professional at the intersection of technology and business, I've observed the transformative power of digital payments in the e-commerce sector, particularly in India. The rapid adoption of digital payment solutions is revolutionizing how businesses operate and customers transact. 💳 The Digital Payments Boom: ‣ India is witnessing a significant shift towards digital payments, driven by government initiatives like Digital India and the rise of fintech innovations. UPI, mobile wallets, and contactless payments are becoming the norm, offering consumers convenience and security. 🔍 Impact on E-commerce: ‣ Digital payments are reshaping the e-commerce landscape in India. With streamlined payment processes, businesses can provide a seamless shopping experience, reducing cart abandonment rates and enhancing customer satisfaction. As someone deeply involved in e-commerce strategy and SEO optimization, I've seen firsthand how crucial a smooth payment gateway is to driving sales and customer loyalty. 📈 Opportunities for Growth: ‣ The growth potential in India's e-commerce sector is immense. Businesses that integrate advanced digital payment solutions can tap into a vast market of tech-savvy consumers. From established brands to pioneering startups, the ability to offer diverse and secure payment options is a game-changer. 💡 Driving Innovation and Inclusion: ‣ Digital payments are not just about convenience; they are about inclusion. They empower underserved communities by providing access to financial services, thus broadening the customer base for e-commerce businesses. This inclusivity drives innovation, as companies develop tailored solutions to cater to diverse consumer needs. 🚀 Looking Ahead: ‣ The future of e-commerce in India is bright, with digital payments playing a pivotal role. As we continue to innovate and adapt, the integration of cutting-edge payment technologies will be key to staying ahead in this dynamic market. ⦿ Join me in exploring the exciting developments in digital payments within India's e-commerce sector. Let's connect to share insights, strategies, and opportunities in this rapidly evolving field! #DigitalPayments #EcommerceIndia #Fintech #UPI #BusinessStrategy #Innovation #CustomerExperience #TechAndBusiness #Growth

Recently in news was Pincode – PhonePe’s Open Network For Digital Commerce (ONDC) focused App, who requested ONDC that they will get out of most of the categories, except food and unreserved ticket booking. While intuitively it seems like a drag on the growth of the ONDC ecosystem as Phonepe through its Pincode offering was expected to bring in the large customer base of Phonepe to the ONDC platform, on further digging down the situation seems to be quite positive for the ecosystem Out of the 5.5 million transactions made in Dec, this is the breakup : Mobility dominated by Namma Yatri – 63%, Of the remainin 37% in retail transactions, the breakdown is F&B – 32.5%, Fashion – 29.6%, Home and Kitchen – 12.6%, Grocery – 10.1%, Beauty – 8.5%, Electronics – 5.7% ONDC has been playing a textbook platform strategy game 1.    When a platform starts, it’s a chicken and egg game between the 2 sides of the platform, on who will be onboarded 1st on the platform, the buyers or the sellers. One side is incentivised to come in. This brings in the 2nd side, who may also incentivised, till the network effect kicks in and no further incentive is needed. ONDC incentivised buyers through the buyers Apps. In non-mobility section, the transactions have gone up to 1 lac per day in March '24 from 2k in 2023 Jan. ONDC has further upped the incentive game, providing additional incentives to the apps for growth in transaction volume. This will probably take the daily transaction to 2lac/day, which is Amazon’s per day volume. 2.    The 2nd principle is the 80:20 rule, where 80% of revenue is expected to come from 20% of products. The 20% brings the money to the platform while the 80% of the products which we call the long tail brings the stickiness. ONDC has opened up 8 categories for this reason from mobility to retail and credit. From individual apps, it needs to be vertical play as there is management of each SKU. This is the 1st reason why we see Pincode restricting itself to only 2 categories after the initial experiment. F&B and Grocery which will bring in about 45% of the sales volume. 3.    The final step for the platform is moving up the value chain which is essentially guaranteeing quality of service delivery which is where ONDC is struggling still. Pincode cited the predictability of service delivery by platform players.It will be very interesting to see, how the entire platform looks when 2 lacs transactions / day is reached. This is where Amazon aced the game Overall the decision by Pincode doesn’t look so bad both for them and ONDC. They have chosen value over a long tail and expects to excel there

#ZACHMultimediaIndiaInsights "Adani plans push into Indian ecommerce and payments "Group set to leverage new public infrastructure in order to compete with rival Reliance and Big Tech [Image - Gautam Adani has become Asia’s second-richest man by amassing a vast infrastructure and logistics network © Punit Paranjpe/AFP/Getty Images] By Benjamin Parkin in New Delhi, Financial Times, 28 May 2024 "India’s Adani Group is in talks to expand into ecommerce and payments, according to four people familiar with the matter, as the conglomerate builds a digital business to compete with the likes of Google and Mukesh Ambani’s Reliance Industries Limited Industries in the world’s most populous country. "The plans come as the group’s politically well-connected founder Gautam Adani seeks to move on from damaging scandals and diversify his empire into fast-growing consumer-facing markets. Adani has become Asia’s second-richest man by amassing a vast infrastructure and logistics network of ports, airports and power. "The company is now weighing applying for a licence to operate on India’s ubiquitous public digital payments network, the Unified Payments Interface , and is in talks with banks to finalise previously announced plans for a co-branded Adani credit card, the people said. "Separately, it is in negotiations to offer online shopping through India’s fast-growing, government-backed public ecommerce platform, the Open Network For Digital Commerce (ONDC), they added. ONDC and UPI make up part of India’s digital public infrastructure “stack”, which attracts hundreds of millions of users a month and has become popular with groups competing to build consumer technology businesses. "“There are just three business conglomerates running this country — the Tatas, the Ambanis and the Adanis,” said Jayanth N Kolla, a Bengaluru-based technology analyst. “Adani is the one of the three groups which does not have significant consumer-facing businesses.” "If finalised, the services will be available through Adani’s consumer app Adani One, launched in late 2022 and offering travel services such as flight and hotel bookings. "Google and Walmart Walmart Global Tech India-backed PhonePe already operate widely used UPI-based payments apps, while domestic groups such as Paytm and Tata offer grocery and fashion shopping through ONDC. The “interoperable” networks mean that companies do not need to invest in their own proprietary payments or ecommerce platforms as they can transact through other providers. "Adani’s consumer push comes after a scandal last year in which US short seller Hindenburg Research accused it of market manipulation and fraud. The allegations prompted a $150bn rout in Adani’s listed stocks and attacks from opposition leaders over the founder’s long-standing ties with Prime Minister Narendra Modi. "The company has remained in the spotlight during India’s ongoing elections."... ... https://lnkd.in/g_CmTiKD