This App is Changing The Way People Will Pay for COD & Deliveries

This App is Changing The Way People Will Pay for COD & Deliveries

Simpel is simplifying payments where delivery is involved, with the power of mobility. It is a mobile payment app that lets customer pay through credit/debit cards – instead of cash – for Cash on Delivery (COD) and Home deliveries without the need for any additional device on the side of the merchants.

Subhradeep Bhattarcharya, the founder of Simpel and an IIM Lucknow alumnus didn’t have an ATM in his college campus. It happened quite often that he and his friends had to avoid ordering something as they didn’t have cash in hand. They even told small merchants to send credit card machines with their delivery boys but that couldn’t happen. In the current age of technology, who keeps cash in hand? It’s rather convenient to pay through credit cards. Subhradeep tapped the need for something that would enable payments via cards, even on home deliveries. And this is how Simpel came into being.

Once Subhradeep and his team chalked out a plan about Simpel, rest of the things fell into place – talking to industry experts, potential merchants, users and stakeholders. This exercise helped them to shape their product. They incorporated the company in August 2013 and launched the app in May 2014.

The company enrolls merchants and enables them to accept payments using credit card/debit card/netbanking. They charge a small transaction fee to the companies on every transaction.

Currently they are launching a pilot in Powai, Mumbai and have 8 merchants on board already from in and around the locality. They’ve managed to garner 100+ downloads from users.

One of the key strengths of this company is the excessive use of smart phones by the current generation. And keeping that in mind, they plan to onboard over 100 merchants and reach 10,000 transactions from 5000 customers by the end of this financial year.

The company is currently bootstrapped and is now looking for investors to expand their technology and sales team and also market the app to get better traction.

There are competitors like MSwipe and Ezetap that share the market space with Simpel. The market size is estimated to be about $10 Billion, of which Cash on Delivery accounts $7.5 Bn and home deliveries $2.5 Bn. However, the USP of Simpel is interesting. It allows customer to pay and merchant to accept card payments, without any extra gadget, unlike its competitors. Everything happens completely through their app.


How Does it Work

It’s simple! The customer just has to type in the merchant’s phone number and amount. The app will confirm the name, only if the merchant is registered. Once checked, the customer can type in his cvv code and get done with the payment. That’s it, no credit card machines required to make big and small payments.

The app also benefits the merchants – small merchants who cannot afford credit card devices and big merchants who are looking for more acceptance from the customers. “We plan to create an ecosystem, in which small and large merchants will help each other to grow mutually” says Subradeep.

The company is on track to break even by April 2017 and also plans to be known as a well established name in the payment space and add more value to their clients with continuous innovation.

Our Take

The Indian mobile payments market has a lot of potential given that there is a lot of scope for smartphone penetration left. Having said that, paying through an app adds friction on the side of the consumer and there will also be trust issue in storing one’s credit card details on the app. The ideal payment solution for a country like India would be something that runs on feature phones as well.

There is also quite a lot of competition in this space, so let’s see what the future holds for Simpel.

Simpel was one of the teams who launched at our event, StartupDash earlier in July this year. Here’s their pitch from StartupDash launchpad.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

Unlock 60% OFF
Cancel Anytime
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

This App is Changing The Way People Will Pay for COD & Deliveries-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

This App is Changing The Way People Will Pay for COD & Deliveries-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

This App is Changing The Way People Will Pay for COD & Deliveries-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

This App is Changing The Way People Will Pay for COD & Deliveries-Inc42 Media
This App is Changing The Way People Will Pay for COD & Deliveries-Inc42 Media
You’re in Good company