Suvidhaa unveils new mobile & DTH recharge and bill payments portal, to launch e-wallet soon
Mumbai-based service-commerce (s-commerce) company Suvidhaa Infoserve Pvt Ltd, which provides payment collection services for various industries, including mobile telephone services, electric power, gas, insurance and e-commerce, has launched a new online payment platform for consumers under suvidhaa.com.
The firm already had an online interface for bill payment but was restricted to B2B clients. The new property integrates the existing payment network as an extension of the interface targeted at consumers.
The new property allows consumers to make prepaid mobile, data card and DTH recharge besides utility bill payments. The platform has also introduced a feature-rich bill management section, which offers advanced bill management services making it one place to receive, pay and track various utility bills. It also allows users to personalise bill alerts, track bills paid, monitor monthly bill outflow, etc.
According to the company, a unique feature of the portal is that it enables users to recharge multiple mobile, data card or DTH connections in a single transaction without having to register on it. In addition, a plan selector tool allows users to choose the right prepaid mobile plan for them by searching with filters like network operator, amount range, validity period, full talk-time and night plans.
"With the Indian online consumer base set to double from 140 million to over 300 million by 2016, the market opportunity for paying bills and recharging online is immense. Suvidhaa.com aims to become the one-stop destination for such consumers by bringing a range of services at a click of a button," said Paresh Rajde, founder and chairman, Suvidhaa Infoserve.
"We are best placed to cater to both the sections of the population by offering a click and mortar model," added Haresh Bathija, MD and CEO, Suvidhaa Infoserve.
With the new service it would compete with the likes of Paytm and RechargeItNow among others.
Suvidhaa markets and distributes various services provided by different companies by allowing consumers to access and make payment through its franchisees. It appoints neighbourhood stores, including grocery stores, medical stores, travel agents and cyber cafes, as its franchisees to distribute the services to consumers.
The firm installs its proprietary software on the franchisee's computer or mobile and operates on a pre-paid model where a consumer walks into a Suvidhaa outlet and pays by cash for services requiring an e-payment.
It has 65,000 outlets at present and is looking to cross 100,000 outlets within a year.
Suvidhaa started remittance business two years ago which already contributes over half of its portfolio. Its financial services business includes processes like remittance, prepaid cards, prepaid wallets, Aadhaar-based financial processes, cash transfer, etc.
Founded in 2007 by Paresh Rajde with angel funding from billionaire Shapoorji Pallonji Mistry, the largest shareholder of Tata Group's holding firm Tata Sons, it went on to raise venture funding from Norwest Venture Partners, Reliance Venture Asset Management and IFC.
In late 2011, it got on board Japan's Mitsui & Co Ltd which invested $12 million (Rs 60 crore back then), taking its total funding to around $25 million.
(Edited by Joby Puthuparampil Johnson)