Money & Banking

Fintech start-up Ezeepay plans to expand in Southern markets

NARAYANAN V Chennai | Updated on September 17, 2021

To hire 200 people in five southern States

Ezeepay, a fintech start-up focussed on financial inclusion and promoting digital transactions in rural and semi-urban areas, is planning to expand its services in the southern market over the next few months, a senior official of the company said.

“After a survey, we found that companies are unable to take up their services in the rural markets of south India because of the language barrier but we have found a solution. For instance, in Odisha, we started our services by creating Ezeepay touch points with a network base of locally hired people,” Shams Tabrej, Founder and CEO, Ezeepay told BusinessLine.

“We are now expanding our presence in south India. To start with, we will hire 200 people (in the company’s role) in the five southern States. These employees will build our network base of agents and distributors. In the next 6 months, we are aiming to have over 50,000 members,” he added.

Doorstep Digital Services

Started in August 2018, the Delhi-based Ezeepay offers a range of banking and digital services to rural India including Aeps service, Aadhaar Pay, Money transfer, Micro ATM, Bank account opening. It also offers online utility services including mobile recharge, travel and hotel booking and LIC premium payment besides compliance services such as ITR filing, GST registration, MSME registration among other services.

Doorstep Digital Services (DDS) is the flagship product of Ezeepay under which it takes these digital services and banking products to the hinterlands of the country. It currently operates in Uttar Pradesh, Bihar, West Bengal, Madhya Pradesh and Jharkhand.

“We have a network of 1.78 lakh agents and distributors in the North. Our total business in the North, across all services, is about ₹800 crore. We aim to garner a monthly business of ₹500-600 crore in the southern market,” Tabrej said.

Ezeepay earns commission on each digital transaction, which is shared between the company and agents.

Target areas

Kottayam and Malappuram in Kerala, West Godavari, East Godavari and Kurnool in Andhra Pradesh, Mysuru, Belgaum and Bellary in Karnataka, Madurai, Tiruchirappalli and Vellore in Tamil Nadu and Mancherial, Nirmal and Sircilla in Telangana are some of the target areas in south for Ezeepay.

Published on September 17, 2021

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