PayMate, India’s leading mobile payments company, has added another feather to its cap by successfully launching India’s first Mobile, Cashless Purchase Management Service for fleet operators in the country. The new service called “WAYPAY” is in collaboration with India’s leading fleet management solution provider, Mahaventures. This innovative system is specifically designed to help fleet operator across the country manage all in-route expenses from nominated retail outlets, without cash.
Benefits of the service
- Works on all handsets
- No GPRS or Smart phone required
- No need to carry any Cash, Card, Voucher, or Paper Slips
- No need to maintain Purchase records
- No threat of loss, Damage or misuse while handling
- Decrease in time needed to settle the expenditure account
24/7 Helpline for supportWAYPAY PMS (Purchase Management Solution) is another break-through technology innovated by PayMate and Mahaventures that eliminates the need for cash carrying, thus increasing the level of security felt by fleet drivers. The elimination of cash also makes it easier to prevent fraudulent transactions. It’s convenient and comprehensive reporting enables fleet owners & managers to receive real time reports and set purchase controls online.
Speaking on the launch of the new service Mr. Ajay Adiseshann, Founder and Managing Director, PayMate said. “Being a leader and an innovator in the mobile payments space, new opportunities always excite us. We analyzed the issues that fleet operators faced on their daily trips and decided to create a system that would help simplify payments for them without any external hardware/Point of sale devices-zero capex. Electronification of cash payments is a big thrust area for us. While India continues to mature as an economy there will be a definitive shift from cash to electronic with the mobile phone playing a key facilitator in this transition. The PayMate platform is particularly suited for such applications and in Mahaventures we have the ideal partner for rapid deployment in western India.”
Says Mr. Sanjay Shinde, the Man behind – WAYPAY, “In today's scenario where our country has the highest rate of growth in all fields and transport is playing major roll that, we found this is to be the best time to launch our product “WAYPAY” (Purchase Management System). The product is Powered by PayMate and has the most advanced and beneficial features to help users to simplify transactions and to increase the profitability from their existing fleet business. “
PayMate and Mahaventures have designed a simple and secure way of making and monitoring purchases. Transporters need to register their vehicles & drivers mobile number with WAYPAY, each driver’s mobile number will be registered against each vehicle number. A Login ID & Password will be provided on successful registration. The transporter would then need to set purchase limits and load required funds to a prepaid account by RTGS/Net Banking/Cheque. Once that has been done, the drivers need to call WAYPAY IVR from his registered number for the purchase amount and punch his PIN for the transaction. Drivers can ask WAYPAY dealers to make purchase requests on WAYPAY IVR. The dealer needs to punch the driver’s number and amount on WAYPAY IVR. On confirmation the driver will receive the Fuel (or any other item purchased) from the Dealer and the money will be transferred from the Transporters WAYPAY account to the Dealers account. This system is not only applicable for fuel, but can be used for purchase of Tires, Batteries, Service Centre Bills, etc
The current products offered to fleet operators are smart card based and need a swiping terminal at the outlet location. These terminals are usually in poor working condition due to maintenance issues caused by the inaccessibility and remote highway locations of these outlets. The WAYPAY system does not require any wired connectivity or special instruments such as POS terminals hence eliminating system maintenance and accessibility issues completely.
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