Today’s Post is inspired by Bajaj
EMI Card and Pumpkart.com.
EMI option is old fashioned. It is less
customer friendly as compared to Overdraft facility.
Bajaj EMI facility is currently available
only for offline purchases. Pumpkart EMI
is available for products sold on Pumpkart.com.
A build in overdraft facility on
eWallets will lead to a boom in the eWallet holders numbers.
The number of eWallets in India is on
the increase. A corresponding increase in transactions is also seen.
eWallet business is just taking off in
India, hence special promotional schemes are in fashion.
The
business model is almost in place.
The respective finance companies have to
tie-up with eCommerce Sites for customers to access this facility at eCommerce
Sites.
Below is the business model. This model is
best suited for Pan India finance companies.
01)
Introduce eKYC features.
02)
The eKYC
option can be offered in the companies’ premises.
03)
Or the
sales team can complete the eKYC formalities at the customer’s location.
04)
Arrive
at the Overdraft eligibility.
05)
Load
the Overdraft limit on to the eWallet.
A more detailed version can be shared with
interested parties.
Which eWallet Player will
take the lead? We Indian eCommerce shoppers will support you.
The below table shows the growth
of mWallets in India.
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No. 43: Payment System Indicators
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System
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Volume (Million)
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Value (` Billion)
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2014-15
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2015
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2014-15
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2015
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|||||
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Jan.
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Feb.
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Mar.
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Jan.
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Feb.
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Mar.
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1
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2
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3
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4
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5
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6
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7
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8
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6 Prepaid Payment Instruments (PPIs)
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314.46
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33.49
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30.31
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54.10
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213.42
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23.65
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24.42
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29.80
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6.1 m-Wallet
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255.00
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27.62
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24.08
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46.11
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81.84
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8.92
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8.76
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10.82
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6.2 PPI Cards
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58.91
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5.82
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6.19
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7.94
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105.35
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12.59
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13.64
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16.24
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6.3 Paper Vouchers
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0.55
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0.05
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0.04
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0.06
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26.24
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2.13
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2.01
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2.74
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