 "A mobile app that helps small Indian businesses go cashless")
Tackling digital payments may seem daunting for a shop owner who has always operated with cash, Singapore-based Shopmatic has released a product that might help.
Shopmatic lets users in India, Singapore, and Hong Kong build their own online stores, complete with a payment gateway.
This month, the company released Shopmatic Go, which is a streamlined version of its product, specifically for Android. Shopmatic Go allows sellers to set up their online stores, get their own online domains, accept online payments, advertise to customers and a social circle, and get reports on successful sales.
Much like its parent product, users can take snapshots (or pick from the app’s photo gallery) of their products and/or services, fill in the product details, and share the store (and its stock) through channels, including WhatsApp, Facebook, and email.
Insta-store
For shop owners in India, the Shopmatic subscription service costs about $20 for a month – customers pay nothing to use the platform, save a small processing fee for a successful payment. The company uses Citrus Pay for transactions within India – credit and debit cards, mobile wallets, and net banking – and PayPal for payments across borders. It also has partnerships with logistics provider Aramex and the Confederation of All India Traders.
The startup has offices in Singapore, Gurgaon, and Bangalore, and its development team is located in Taiwan. It has a team of around 50 people, most of whom are based in India. Shopmatic’s co-founders – Anurag Avula, Yen Lim, and Kris Chen – all used to work at PayPal, which makes operating a business across geographies easier.
The team plans on expanding to Indonesia, Thailand, and the Philippines within the next six months.
