The Go Payments Business App is a platform for our channel partners to become a part of the Digital India Initiative as Banking Correspondents of Banks and earn additional income by providing a host of financial services (DMT, AEPS, BBPS, Travel, Insurance etc.) to their customers. It is a platform for our corporates to issue prepaid meal and gift cards to their employees, to load money and to track spends.
Instant Global Paytech Pvt. Ltd. (Go Payments) was founded in April, 2018 with the aim of transcending the gap between physical and digital payments, thus enabling users to perform digital financial transactions through assisted commerce. This company was started with the vision of creating a platform that will make a whole host of financial services available to consumers, anywhere in India, at their doorstep. The Platform connects thousands of agents (like kirana shops, pharmacies, mom- and-pop stores etc.) pan-India to the formal banking system, thus enabling them to provide digital financial services like Domestic Money Transfer (DMT), Bill Payments, Mobile Recharge and Travel Bookings among many others to their customers.
In a cash dominant economy like India, where millions are still excluded from the formal banking system, Go Payments works with Banks to empower these unbanked people by giving them the capability to access digital financial services for the very first time. By providing a multitude of digital financial services, Go Payments envisions becoming a one-stop shop for agents in their quest of serving the end customer. Thus, the Go Payments Business App acts as a bridge and creates value for both, the Banks as well as the end users and agents.
The Go Payments Business App will also be used by corporates to issue prepaid cards, primarily meal cards and gift cards, to their employees. Through this application, they can register the employees or customers. Post-registration they will be able to load the cards through the app. They will also be able to track the spend of the cardholders and have access to various types of Reports for easy accounting and expense management within their organization.