In order to help offline merchants opt for cashless transactions ecommerce platform ShopClues, today announced the launch of ‘Reach’ – a payment gateway, under its Business Edge initiative.
Reach will help brick-and-mortar stores across India process hassle-free cashless transactions for customers who prefer making payments digitally.
While addressing the gathering, Sanjay Sethi, CEO and co-founder, ShopClues said, “In the wake of the unprecedented demand for digital payments, the launch of ‘Reach’ will, most essentially, offer a level playing field to the brick-and-mortar retailers across the country, who at present, are bearing the brunt due to unavailability of PoS machines at their stores.”
A 3-Step Payment System: For Offline And Online Merchants Alike
Offering a seamless service experience to the retailers as well as customers, the easy-to-set-up payment gateway demands neither of the transacting parties to download the application and can be used for payments of all scales and sizes.
The merchants can avail the facility at a cost of INR 99 per month. The SMS-based three-step payment mechanism also eliminates the intermediary digital wallet by directly transferring the payment to the beneficiary’s bank account at an introductory rate of 0% TDR on transactions.
‘Reach’ can be subscribed to by ShopClues-affiliated merchants as well as offline merchants who are not associated with the platform alike.
Not only this, it also assists the retailer in order management, inventory management, e-Billing, centralised inventory status for multiple stores, and merchant store promotion.
Increase In Revenue, Increase In Outreach
Founded in July 2011, ShopClues is a managed marketplace which aims to provide a unique online shopping experience to its customers. The company claims to have more than 100 Mn monthly visits on its website with 5 Cr listed products and over 5, 00,000 merchants. Shipping to over 30K pin codes across India and thousands of online stores; the company is funded by leading institutional investors, is an Indian subsidiary of Clues Network Inc., a US Corporation and is based out of Gurugram.
Apart from Reach, the Business Edge initiative is categorised under three buckets namely, Grow Your Business, Build Your Identity, and Manage Your Operations. The three buckets offer the ShopClues’ retailers an array of premium services like the Sales Booster, Capital Wings, and AdZone, which retailers can individually subscribe to as per their business requirements.
With an energetic team of over 1,000 people, ShopClues plans to reach out to offline merchants across cities in the upcoming months. With the launch of the new payment gateway, the company is expecting 30% increase in total revenue within 24 months.
“This move will also prove to be pivotal for offline merchants by offering them the technological platform to upscale their business in predominant market conditions,” said Sanjay.