21, Dec 2023
ISAMRA leverages TreadBinary Technology to Enhance Transparency and Accountability in the Royalty Distribution System
- The collaboration aims to reducing royalty processing time considerably through the strategic implementation of customized innovations
- By combining ISAMRA’s steadfast commitment to protecting intellectual property rights of Artists with TreadBinary’s technical expertise and pioneering data tools, artists can expect increased transparency, timeliness, and accountability in royalty payouts for years to come.
National, 21th December 2023: In a transformative move poised to redefine the dynamics of the music industry, ISAMRA (Indian Singers’ and Musicians’ Rights Association) has entered into a strategic partnership to leverage the technological expertise of TreadBinary, a leading technology innovator. This landmark collaboration marks a pivotal moment in the trajectory of both organisations, signaling their shared commitment to ushering in a new era of transparency and efficiency in royalty distribution.
ISAMRA, with the technical expertise of TreadBinary, embarks on a mission to revolutionize royalty distribution by significantly reducing the cumbersome process of manual data processing by 90%. The objective of this mission is to enable ISAMRA to make accurate and timely royalty distribution by reducing the processing time considerably. This monumental shift not only streamlines operations but also positions ISAMRA and TreadBinary as pioneers in the industry’s technological evolution.
At the core of this collaboration lies the integration of TreadBinary’s cutting-edge technology into ISAMRA’s operations. This technological synergy aims to bring transparency and accountability to the forefront of royalty distribution, setting a new standard for the industry. ISAMRA’s decision to harness TreadBinary’s expertise underscores a shared vision to revolutionize the operational landscape of the music industry.
Through this collaboration, TreadBinary has developed a bespoke application exclusively for ISAMRA. This comprehensive solution addresses the intricate data management needs associated with millions of songs played across diverse platforms and countries. The application is designed to efficiently import, process, and store data, ensuring the identification of artists and musicians involved for accurate and equated royalty distribution.
The revolutionary application by TreadBinary offers unparalleled benefits to the music industry. Processing data for millions of songs played on various platforms with multiple artists, the application provides direct and immediate rewards for each contributor. Previously, a manual process took months which can now be accomplished within days, ensuring swift and accurate disbursement of royalties.
Yuvraj Shidhaye, Founder and Director, TreadBinary, said, “We are delighted to partner with ISAMRA on this groundbreaking initiative to transform royalty distribution systems in the music industry. TreadBinary is committed to leveraging technology for transparency, and our specialized solutions will help enable the efficiency and accuracy that musicians deserve. By modernizing legacy approaches, our application offers real-time visibility into the complex data behind proper royalty allocation and payments. This collaboration represents immense potential to accelerate innovation through customized technology that reduces intensive manual processes from months to minutes/days. We share ISAMRA’s dedication to expanding the administration of intellectual property rights. Together we have pioneered the next generation of data infrastructure to drive fairness and empower artists across India.”
Sanjay Tandon, Founder, CEO and Director, ISAMRA , said, “As a responsible society, it is imperative that we not only collect royalties for singers and musicians but also distribute the same accurately, in a cost-effective and in a timely manner. With millions of songs to be administered, it is important that we have a robust and efficient ERP system in place. Towards this end, we are excited to start on this epic journey by engaging the technical expertise of TreadBinary to leverage the latest technology to manage our member’s data and achieve transparency, efficiency, accuracy and speed in distributing royalties to them”.
Beyond the technological advancements, this collaboration signifies ISAMRA’s evolution as it expands its purview to include musicians alongside singers. This expanded responsibility reflects ISAMRA’s commitment to securing the intellectual rights of the entire music fraternity. The engagement with TreadBinary amplifies their dedication to transparency, reliability, and scalability in the pursuit of benefits for the entire member community.
The engagement is not merely a formality but a strategic public relations move aimed at illuminating the synergies between ISAMRA and TreadBinary. By highlighting TreadBinary as the chosen tech partner, both organizations seek to communicate their strategic expertise and a shared vision for the future of the music industry. This engagement is a testament to their commitment to innovation, efficiency, and, most importantly, the artists and musicians they represent.
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- By Rabindra
21, Dec 2023
Empowering Rural Youth: Salam Kisan’s skilling initiatives to uplift agriculture’s future
Mumbai, 21th December, 2023: Marking National Farmers’ Day this year, pioneering agri-tech platform Salam Kisan with a base of over 50,000 farmers in less than a year unveiled impactful skill development programs tailored for rural youth. Designed to empower and create career opportunities for young people, Salam Kisan’s initiatives exemplify its commitment to drive resilience and sustainability in rural communities across India.
Salam Kisan is set to revolutionize agriculture not just with advanced farming solutions and disruptive technologies but also by building new opportunities in the agriculture landscape for the youth. Their SK Capacity Building Program intends to equip rural youth with advanced capabilities like drone piloting besides hands-on agriculture skills – preparing them to drive change in local communities.
Other innovative initiatives include targeted drone pilot training for women, which introduced Maharashtra’s first female drone pilot. Their Tribal Community Drone Pilot Training Program is designed to train youth from tribal communities. This initiative is a step towards ensuring the benefits of modern agriculture reach every corner of the nation for inclusive growth.
As Salam Kisan aggressively expands operations across Maharashtra with plans to deploy 100+ drones by March 2024, recruiting skilled talent is pivotal. They have launched a 2-month talent search and training campaign from Kisan Diwas 2023 onwards. Through exhibitions, social media engagement, online assessments, and immersive campus visits, Salam Kisan hopes to identify and train 50 exceptional drone pilots ready to open new frontiers in agriculture.
Under the campaign, Salam Kisan participated in the Kisan Biz Exhibition from 13th-17th December 2023 in Pune to showcase skilling programs. They are hosting an entrance exam for interested candidates before Republic Day in two batches to evaluate the aptitude and skill sets required for drone pilot roles. After this, shortlisted candidates will be selected after an interview for the Drone Pilot training program.
Salam Kisan will be organizing training workshops for shortlisted candidates. Training sessions will be documented to showcase program effectiveness comprising testimonials of current drone pilot employees. As a part of the Republic Day event, Salam Kisan will conduct a mass recruitment drive on January 26th, 2024, covered through media partners. Newly inducted drone pilots will be interviewed to showcase the structured induction process and support ecosystem.
On the exciting road ahead, Ms. Dhanashree Mandhani, Founder & CEO of Salam Kisan, said, “Our expertise in smart agri-tech combined with developing local talent can bring meaningful transformation in rural communities. As part of our holistic approach, we are turning our focus towards rural youth. They are pivotal players in the sustainable growth of the agriculture sector. As we soar to new heights with the SK Capacity Building Program, focused drone training for women, and the Tribal Community Drone Training Program, we invite the next generation to join us in revolutionizing agriculture. Together, let’s cultivate a sustainable and tech-driven future.”
21, Dec 2023
Swiggy partners with Simpl; Now Bangalore customers can order with 1 Click
Bengaluru, December 21th, 2023: Ahead of the year-end celebrations, Simpl – India’s foremost Checkout Network – today announced a partnership with Swiggy, India’s leading on-demand convenience platform, to offer a 1-tap Checkout experience to millions of its customers across food delivery, Swiggy instamart, and soon on Dineout, and Swiggy Genie. The partnership assumes significance as the demand for Swiggy’s on-demand services increases multifold during the holiday season led by Christmas and New Year’s Eve celebrations. This, coupled with five weekends in December, is going to contribute to a significant increase in demand for services from food and hyperlocal delivery companies.
With this partnership, millions of customers across the country will be able to place orders from over 2.9 lakh restaurant partners enabled on Swiggy, and access thousands of products from Swiggy instamart while availing of other services from Swiggy with the convenience of Simpl’s 1-Tap.
Commenting on the partnership, Nitya Sharma, Founder and Chief Executive Officer of Simpl, said, “An increasing number of customers today are seeking convenience while transacting online with food and hyperlocal delivery sectors among their top choices. As these services are also availed multiple times in a day, it necessitates the need for a quick and convenient checkout to enhance customer experience. Simpl, as a customer-focused organisation, has been the preferred choice of millions of customers and this partnership with Swiggy is intended to bring greater convenience and trust to our combined customer base in the upcoming holiday season. It will also help strengthen our presence in this space where convenience is becoming a real differentiator”.
Currently, several large enterprises and emerging Direct-to-Customer (D2C) merchants in the food and hyperlocal delivery space offer Simpl’s 1-Tap Checkout to millions of their customers across the country. Over the last two years alone, Simpl has witnessed a 75% growth in transactions for food and beverages, and hyperlocal categories, accompanied by a 48% increase in transacting users.
Anurag Panganamamula, Vice President of Revenue and Growth at Swiggy said, “Our mission is to offer unparalleled convenience and an elevated experience to our customers across the platform – from search to checkout and delivery. With Simpl’s 1-Tap Checkout integrated into our platform, especially ahead of the holiday season, millions of customers across the country will be able to access their food, and home needs, and dine out seamlessly”
Today, Simpl is the preferred checkout partner for over 26,000 small, medium and large enterprises and D2C merchants across the country who make use Simpl’s 1-Tap Checkout and its Checkout solutions to bring trust and convenience for millions of their customers.
21, Dec 2023
BIF hails the landmark Telecommunications Bill 2023
● The Think Tank body considers it a consumer-centric and investor-friendly bill that will propel the growth of the sector.
New Delhi, 21 December 2023: In its apex Executive Council meeting on 20th instant, Broadband India Forum (BIF), the leading independent Think-Tank and Policy Forum for Digital Communications in the country, discussed the Telecommunications Bill 2023, which was tabled in the Lok Sabha by Hon’ble Minister for Communications & IT, Shri Ashwini Vaishnaw on 18th December 2023. It praised the bill and unanimously adopted the following resolution formally: –
The EC was of the view that this was a historic milestone in the annals of Indian Telecom and truly a giant leap forward for the Bharat Digital Economy. This extremely progressive Bill that consolidates different laws of 1885, 1933 and 1950, to further catalyze this rapidly growing technological age was warmly hailed by the EC. It brings in clarity on a plethora of key issues that have been before the sector – the TRAI power & functions, protection and duties of telecom users, clarity in definition of telecommunication service, exclusion of OTTs from the purview of Telecom regulations, administrative allocation of satellite spectrum and certain other types of spectrum, Right of Way issues, spurring of Universal Service and Innovation/R&D through a Digital Bharat Nidhi and Regulatory Sandbox and many other important aspects.
The BIF EC believes that the landmark Bill will help achieve increased acceleration of internet/broadband penetration and will provide a huge impetus to the growth of the digital economy. It will bring about many consumer benefits besides boosting investor confidence and fetching billions of dollars of FDI in the digital sector. Further, it would help incentivize the exponential growth of the space startups segment which already has 189 startups, thereby boosting India’s Space Mission.
The Executive Council solemnly resolved that BIF and its members will spare no efforts to leverage the Bill and support the Government to further speeding India’s Journey on the Digital Highway.
While praising the bill, Mr. T.V. Ramachandran, President, Broadband India Forum, commented, “The Indian Telecommunications Bill 2023 will serve as a strong enabler for the larger digital ecosystem and, in particular, the innovative OTT Apps and Satellite Sectors in the country. It seeks to address several inhibiting issues and would lead to tremendous boost to investor confidence, thereby causing a quantum jump in the growth of the sector.”
21, Dec 2023
Jingle Deals – Federal Bank Unwraps the Festive Delight with Lifetime free Credit Card
Mumbai, 21 th December 2023: As the holiday season and year-end approaches, Federal Bank unveils their latest credit card offer – “Jingle Deals”, that provides lifetime free credit cards for a limited period of time. Spanning from December 16th, 2023 to January 15th, 2024, Jingle Deals is strategically designed to add joy to the season of giving with 30-day shopping bonanza that will give customers access to fabulous deals and great savings.
The key components of the Jingle deals are the diverse category offering in apparel, electronics, travel, groceries, dining, and more. Federal Bank’s specific brand partners include Reliance Indigo, Reliance Digital, MakeMyTrip, AJIO, Flipkart, Lifestyle, LULU, Swiggy Instamart, and others.
Federal Bank customers can avail the below offers for Christmas 2023
Offers are listed on https://www.federalbank.co.in/jingle-deals
Apparel:
- Reliance Trends: 15% instant discount on credit card purchases of ₹3999 or more, up to ₹2000 discount.
- AJIO: 10% instant discount on minimum order value of ₹3500, up to ₹1000 discount.
Electronics:
- Croma: 10% instant discount on minimum transaction of ₹15000, up to ₹1500 (credit card) or ₹2000 (credit card EMI) discount
- Reliance Digital: 10% instant discount on minimum order value of ₹15000, up to ₹3000 (credit card) or ₹5000 (credit card EMI) discount
- Vijay Sales (offline & online): 10% instant discount on minimum order value of ₹15000, up to ₹3000 (credit card) or ₹5000 (credit card EMI) discount
Grocery:
- Swiggy Instamart: ₹100 off with Federal Bank credit cards.
- Zepto: 15% instant discount using Federal Bank credit cards.
Dining:
- Zomato Dining: 15% off up to ₹800 on a minimum order value of ₹3000.
- Easy Diner: 15% off up to ₹800 on a minimum order value of ₹3000.
Apart from these, customers can get exciting cashback* of upto Rs. 5000 and Rs. 7500, while booking international and domestic flights and Hotels through MakeMyTrip and Indigo, respectively.
21, Dec 2023
Konica Minolta’s PrintXpress Resumes Nationwide Tour
- Konica Minolta’s “PrintXpress – Innovation in Print” Campaign is continued its journey with new Production Printer Engines
- The campaign is an endeavour to conventionalize Digital Printing Practises in the hinterland of India, covering Tier-2, 3, and 4 cities.
- The campaign covering 93+ Cities, will occur over the over the course of 4 months, till March 2024.
New Delhi, 21th December 2023 | Reviving the campaign that brought cutting-edge technology to the hinterland of India, Konica Minolta successfully commenced a fresh leg of the PrintXpress – Innovation in Print on 11th December 2023. This endeavour will take Konica Minolta to 93+ new cities, across Tier-2, 3, and 4 locations, to understand what the technology and strategy gaps are, in the daily operations of these print businesses that require revision and network support. The unique roadshow aims to garner an attendance of potential small to medium print businesses, across an area of over 25 thousand kilometres.
Focused to create business touchpoints across geographies, there are 2 campaign buses, will travel all 4 regions of India, catering to both direct channel and indirect channels, in collaboration with partners KMI and Technova. Outfitted with Production Print Engines, the campaign will showcase live demonstrations to the visitors to experience the benefits and explore new business opportunities with Colour – AccurioPrint C4065 and the Monochrome – AccurioPrint 2100.
The PrintXpress Roadshow is designed to merge the network of small print businesses with Konica Minolta’s dependable print solutions. Integrated with samples on display, the campaign buses have embarked on separate routes across the country to display the products’ functionality in the avenues of Digital printing and Print-on-demand, to both prospective and current clients, across towns such as Rohtak, Gorakhpur, Siliguri, Nasik, and Barpeta.
Commenting on the beginning of PrintXpress, Mr. Katsuhisa Asari, Managing Director, Konica Minolta Business Solutions India Pvt. Ltd., said, “As leading print solutions provider, we are highly aware that printing businesses and in-house print departments are expected to produce impeccable print products within the shortest of deadlines, with changing user expectations. This is why, we understand the value of bringing in sturdy construction, high performance, and smart inline finishing options to small and burgeoning print businesses in India. With this new edition of the PrintXpress campaign, we want to democratize streamlined workflow processes, to a wide array of print businesses, creative agencies, book publishers, and commercial printers residing in the cities and towns”.
Continuing the milestone of Konica Minolta’s 150-year anniversary, the PrintXpress campaign is an extension to early 2023’s “PrintXpress – Innovation in Print” Campaign that covered 150+ Cities, reporting an in-person attendance from 3000 customers, over the course of 5 months, covered a notable 48000+ kms.
21, Dec 2023
KidZania’s Winter Wonderland: A Magical Festive Extravaganza Captivates Families
Noida, December 21, 2023 – The enchanting Winter Wonderland festivities at KidZania Delhi NCR and Mumbai kickstarted on 15th December 2023 and will conclude on January 7, 2024, leaving behind cherished memories of a magical holiday season. Families and children indulged in the timeless charm and joyful spirit of the holidays throughout the celebration, turning KidZania into a haven of festive joy.
Event Highlights:
● Giant Snow Globe
● Tinkle Mega Collection Box
● Nestle Ceregrow Christmas Art Challenge
● FSM Carol Singing Workshop
● Santa Parade with RightZkeepers
● Christmas DIY
Games:
● Ballistic Bingo Blast
● Arctic Pin Tumble
● Jolly Ring Toss Challenge
Rahul Dhamdhere, Chief Marketing Officer of KidZania India, said, “As the season unfolded, we witnessed hearts filled with goodwill and the joy of carols at KidZania. Our commitment to bringing the enchanting charm of Christmas, especially to children, is evident in the unforgettable experiences crafted through meticulously planned activities. In the spirit of love and generosity, we are treating every visitor to delectable food, cherishing moments that make this time of year truly special.”
21, Dec 2023
Quantum Energy Inaugurates New EV Showroom in Noida
21 December 2023: Quantum Energy, a leading electric vehicle (EV) startup specializing in the design, development, and manufacturing of electric scooters, has announced the inauguration of its new showroom in Noida, Uttar Pradesh. This new addition marks the 1st EV two-wheeler showroom in the state, further expanding Quantum Energy’s presence and accessibility to Indian customers.
The showroom inauguration took place in the presence of esteemed dignitaries and senior officials from Quantum Energy. Spanning approximately 650 square feet, the newly inaugurated showroom operates under the dealership name Mohak Energy. The strategically positioned showroom provides a convenient hub for customers to explore Quantum Energy’s cutting-edge electric scooters and firsthand experience their advanced features.
At the Mohak Energy showroom, all Quantum Energy electric scooters are prominently displayed, allowing visitors to marvel at the impeccable design, impressive performance, and exceptional build quality of each vehicle. The diverse lineup of electric scooters includes the Plasma, Elektron, Milan and Bziness range, catering to a wide range of commuting needs for Indian consumers.
Specifications of the showcased electric scooters:
● Plasma – Powered by a 1500 W motor; top speed of 65 km/h; offers an impressive range of upto 110 km on a single full battery charge. Price – INR 1,21,205 Ex showroom, Maharashtra
● Elektron – Equipped with a 1000W motor; top speed of 60 km/h; provides a range of upto 100 km on a single full battery charge; Price – INR 92,055 Ex-showroom, Maharashtra
● Milan – Driven by a 1000W motor; top speed of 60 km/h; offers a range of upto 100 km on a single full battery charge; Price – INR 87,896 Ex-showroom, Maharashtra
● Bziness – Empowered by a 1200W motor; top speed of 55 km/h; provides a range of upto 110 km in on a single full battery charge; Price – INR 98,291 Ex-showroom, Maharashtra.
● Bziness Pro – Empowered by a 1200W motor; top speed of 55 km/h; provides a range of upto 130 km in on a single full battery charge; Price – INR 1,17,200 Ex-showroom, Maharashtra.
Speaking about the launch, Mrs. Chakravarthi C., Managing Director of Quantum Energy Limited, expressed,” With the opening of our new store in Noida, we are excited to increase our presence in Uttar Pradesh even further. It is quite promising that there is a rising interest in electric two-wheelers in the state. Numerous cutting-edge features of our Quantum Energy scooters strongly appeal to all market sectors. Our commitment to making our cutting-edge electric scooters more accessible to the public is fueled by the growing demand for environmentally friendly mobility options. We are currently trying to create more showrooms in Uttar Pradesh to accommodate this demand and make our eco-friendly mobility products more easily accessible.”
Quantum Energy has expanded its network of showrooms around India to an amazing 55 with the opening of the Noida showroom. With the support of the prestigious Kusalava Group, which has over 50 years of experience in the automotive industry, Quantum Energy is committed to reducing carbon emissions, reducing its carbon footprint, and making India a leader in sustainable mobility worldwide.
21, Dec 2023
UPI transactions witnesses 118% rise at retail stores in 2023: PayNearby Report
Assisted e-commerce (meta commerce) grows by 91% in semi urban and rural retail counters
- PayNearby releases detailed analysis on ‘assisted digital transactions’ FY23, in its third Pan-India report titled Retail-O-Nomics
- Insurance policy purchase and insurance premium collection saw a massive 150% growth in transaction and 140% in customer adoption
- PAN Card issuance services have seen a steep growth of 437%
- During PM-Kisan Samman Nidhi fund release, cash withdrawal on an average grew by 36% as compared to the rest of the year
- Amongst credit products, personal loan and gold loan, saw good adoption at the last mile, crossing seven-figure mark in disbursements within few months of launch
- Bill payments service at local stores witnessed an increase of 74% in value and 39% in volume
Mumbai, 21th December, 2023: PayNearby, India’s largest branchless banking and digital network, today released data report ‘Retail-O-Nomics’. It highlights Unified Payments Interface (UPI) transactions saw a 118% and 106% increase in volume and value respectively at semi-urban and rural stores, representing the growing adoption of UPI beyond Tier II regions in the country. In addition, mPOS (Mobile Point of Sale) acceptance too witnessed a growth of 5% in value, emphasising the increasing adoption of cutting-edge technology among small merchants.
Insurance policy purchases and premium collections surged by 150% in transaction volume and 140% in new customer adoption, underlining the role of digital retail stores in addressing the challenges of insurance penetration in Bharat, and their gradual evolution into multi-utility centres for citizens.
The insights are part of the third edition of the Pan-India report titled ‘Retail-O-Nomics’ released by PayNearby. The report has been prepared based on transactions conducted across a million-plus PayNearby retail touchpoints, consisting of kirana stores, mobile recharge stores, medical shops, customer service points (CSPs), travel agents, etc. throughout the country. The findings compare business data from January to November 2023 with the same period in the year 2022.
As per the report, the nationwide new registered retailer count increased by 9%, underscoring the eagerness of the retail community to participate in India’s growth story by facilitating assisted financial and digital transactions at nearby stores. Overall, transactions grew by 10% both in volume and value. The transactions include not only banking and financial services, but also digital services like utility payment, cash collection, credit, insurance, assisted commerce and more, indicating a significant behavioral shift among consumers in these regions towards assisted digital methods for their banking and lifestyle needs, contributing to their integration into the formal economy.
In 2023, Micro ATM and AePS cash withdrawals, pivotal for rural and semi-urban digital counters (retail stores), fell short of expected growth. However, MATM device demand remained robust, marking a 17% surge in purchases compared to last year. Although transaction volume decreased, the average cash withdrawal per transaction grew slightly from ₹2595 in 2022 to ₹2624 in 2023. Notably, AePS withdrawals surged consistently by 30-40% during DBT releases, notably during PM Kisan Yojana credits, as compared with the rest of the year.
The report also highlights a staggering 65% surge in cash collection at retail counters, reflecting soaring demand for credit and financial solutions nationwide. With an average monthly collection of ₹1,700 crores, the company witnessed heightened demand across various processes, including a remarkable 25% surge in EMI collections for NBFCs, MFIs, and Small Finance Banks. This uptick in EMI collections signifies a rising awareness and interest in credit and financial offerings at the grassroots level. Additionally, positive growth in subscriptions for OTTs, online education, and online gaming underlines a latent demand for digital services, indicating Bharat’s growing affinity towards digital products.
Amongst credit products, business, personal, and gold loans gained rapid traction, surpassing a seven-figure mark in loan disbursement. Impressively, 21% of applicants were new to credit (NTC), reflecting a growing trend. The average age of 28-30 highlights a dynamic, youthful entrepreneurial base. These loans, catering to SMEs’ working capital and individual lifestyle upgrades, underscore the urgent need for scalable, affordable credit solutions for India’s unhindered progress.
The assisted e-commerce segment, meta-commerce emerged as another significant highlight this year, with a network of ~40,000 retailers actively engaged in providing e-commerce services. Particularly noteworthy is the substantial traction of the Branded Shop category, featuring top brands across consumer electronics, mobile accessories, kitchen appliances and more. Popular categories in the ecommerce portfolio include grocery, grooming, toys, and healthcare products. The average ticket size in the branded shop category was ₹3,184, while for the rest of the ecommerce portfolio, it was ₹1,586.
FY 2023 saw a surge in re-banking at retail counters, opening 175,000 new current and savings accounts. The report highlights a robust 202% growth in account balances compared to last year.
Commenting on the report findings, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, “Embracing rural India’s pulse, Retail-O-Nomics depicts a narrative where hinterlands not only keep pace with urban areas but actively integrate into the formal economy. The surge in GTV results from not only the growth in traditional banking and ATM services but also the adoption of products like UPI and MPOS, NTC credit solutions, insurance, e-commerce and more. Despite this, there’s still a huge untapped market needing the right product, pricing, and distribution for easier adoption. This report aims to catalyse dialogues and implement measures for widespread financial and digital service accessibility, especially in Tier II and beyond. Committed to this vision, we empower retailers and consumers through user-friendly solutions, focusing on technology simplification and democratization via our Distribution-as-a-Service network.
A case in point is the introduction of assisted ecommerce in our network. With this service, rural aspirational customers are getting the choicest products at a nearby store, retailers are seeing enhanced income, and e-commerce partners are not only reaching new markets, but seeing reduced returns rates, optimizing overall business costs. In fact, return rates through meta commerce are nearly 1/3rd of the standard return rate witnessed by B2C ecommerce platforms, highlighting the significant role played by human interventions at retail counters in the overall consumer experience.”
Bill payments spiked by 74% in value and 39% in volume, while mobile recharge grew by 3%. Assisted Income Tax Return (ITR) services rose by 4%. Travel bookings maintained an 8% growth in flights and 6% in rail bookings during festivals. New PAN Card issuance and corrections skyrocketed by 437%. Notably, 41% of banking transactions occurred from 3.00 pm to 9.00 pm, highlighting retail outlets’ crucial role in meeting banking and digital needs, especially within the PayNearby network.
21, Dec 2023
Year-End Story Quote from Lexar, a global giant in Flash memory solutions
“As another year comes to an end, the memory solutions market did witness an increase in demand for high quality storage solution devices that are faster, secure, with massive capacities. In response to changing customer needs, we have expanded and designed our new product line to meet the demands of a dynamic market. For example, in the gaming sector, we now offer high-quality DDR5 and DDR4 RAMs, along with SSDs that reach speeds of around up to 12000 MB/Sec, tailored for gaming enthusiasts. While DDR4 remains popular, we’re gradually transitioning to the faster DDR5 interface to keep up with technological advancements.
Our gold microSD, a pioneering product with V60-rated video capacity, has been instrumental in meeting the growing demand for high-performance storage solutions. Additionally, our USB 3.0 to 3.2 flash drives have set new standards for speed and reliability in USB storage.
As we look ahead, we are excited by the opportunities presented by emerging trends, such as the increasing popularity of drone photography in India. The demand for high-speed microSDs capable of recording 4K quality RAW videos is on the rise, and Lexar is poised to meet this demand with our innovative solutions.
In the coming year, we remain committed to our mission of delivering exceptional products that empower our customers to do more. With a focus on next-generation innovations that are cutting-edge, reliable and secure, we are confident in our ability to continue leading the storage solutions industry in India.”
