PayNearby has collaborated with TRRAIN Circle to provide digital upskilling tools to retailers through TRRAIN Circle’s exclusive mobile-friendly content to arm retail workers with the essential skills to lead a more rewarding life. As India’s leading hyperlocal FinTech network, PayNearby aims to digitally upskill over 20 lakh retailers spread across the length and breadth of the country by joining hands with TRRAIN Circle (Trust for Retailers and Retail Associates of India), an enterprise that aims at improving the life of retail employees.
Despite the growth in digitalisation, India is still struggling with stunted growth in financial inclusion, majorly due to the lack of financial and technological literacy among the masses. PayNearby has been working relentlessly towards its mission of ‘Har Dukaan Digital Pradhan’ since inception to bridge the massive digital and financial gap in India. The company has succeeded in leveraging the ‘Digital Pradhans’ to provide many essential services such as Aadhaar banking, domestic money transfer, insurance, access to government schemes, and many more to the masses.
Collaborating with TRRAIN Circle is another milestone in the journey, as it will ensure that retailers at the first mile upskill themselves and are able to deliver the financial products seamlessly to the customers at the last mile. The partnership will enable e-learning videos along with a slew of skilling and knowledge-building courses including financial and insurance planning and career guidance to the PayNearby retailers. Additionally, the platform will also promote holistic well-being by hosting in-house counselling for the retailers. So, the next time someone walks into a retail store they can withdraw cash, transfer money and pay utility bills from a more aware and empowered retailer!
Commenting on the collaboration, Anand Kumar Bajaj, Founder & CEO, PayNearby remarked, “Retailers are the very core of a business ecosystem and it is important for them to have all the necessary knowledge and skills to make their work easy and enhance customer engagement. A local retail shop in India is a community hub as well, which makes the store a great source to achieve widespread financial inclusion. Through this collaboration, we aim to empower our retailers further and help realize our vision of upskilling over 20 lakh retailers, helping them to become self-employed, financially independent and aware Digital Pradhans.”
B S Nagesh, Founder, TRRAIN added, “PayNearby has a revolutionary business model which financially empowers retailers while contributing to the financial inclusion drive in India. We share a common aligned vision that aims to improve the professional & personal lives of people in the retail and related industries. We are excited to associate with PayNearby in this journey and hope to build a synergy towards upskilling and empowering the local-retail ecosystem in India.”
PayNearby’s widespread retailer network of ~7,50,000 Digital Pradhans are present across 16,722 PIN-codes. So, the next time someone walks in to a retail store they can buy essentials, withdraw cash, transfer money and pay utility bills from a more aware and empowered retailer!
financial inclusion in India. Retailer services are focussed on Aadhaar based banking services, Domestic Remittances, Bill Payments, Card Payments, and insurance services among others.
It was founded by Anand Kumar Bajaj, Subhash Kumar, Yashwant Lodha & Rajesh Jha who bring with them rich experience in banking, payments and financial sector. A DIPP-certified FinTech startup, has partnered with various financial institutions including YES Bank, RBL Bank, ICICI Bank, State Bank of India, Axis Bank, CC Avenue, Bill Desk, NPCI, FASTag, NBFC and FMCG companies. It is the sole technology provider using Aadhaar Enabled Payment Services (AEPS) and IMPS to YES Bank, making them one of the only two fintech companies hosted by the National Payments Corporation of India (NCPI).
