Blog Post

Video discussion:

Design a digital payment product for Rural India

Clarifying questions:-
Which segment - P2P, P2M, B2B?
P2M - person to the merchant - which product - UPI scan & pay, BNPL (buy now pay later), credit card, debit card, POS, Bookkeeping app (link-based payment), wallet

FAQs  - consumer, retailer, company building the solution

Company: What is the product offering?
UPI based payment solution, BNPL (QR scan) - basis transactions are done historically

Company: What customization will we need to do for rural India?
Vernacular support, QR based payments, help section Video-based

Merchant: What is the benefit I get over cash?
Tracking digitally at the customer level (dynamic QR)
Send reminders for payment - collect digitally
With digital payments, money goes to banks - building digital profiles to apply for a loan 
UPI based collection 0 MDR

Consumer: Why should I switch to digital when cash works well?
BNPL - extra credit period if required
Consumer - typical due days, contact info, purchase amount, data across retailers.
Convenience when not at store and retailer following up. 

Company - For consumer credit how will you get users to apply/repay / outreach?
Outreach - retailer, SM, SMS, IVR, email  
Apply - a link-based journey
Repay - app for the consumer - dashboard expenses, credit utilization, repayment 
Partner with BNPL player.
Merchant:- You can now manage books on the app, send reminders, and auto reconcile when payments are made by consumers. With this digital footprint, you can avail credit from formal channels.

Consumer:- Clear monthly dues at your convenience & avail credit from formal channels.


Learn21 conducts an online Boot Camp for web development. If interested you can check the details here.