This Guy Is Scaling Businesses Digitally & Making MILLIONS Of Dollars- Akash Sinha| FO57 Raj Shamani

yeah the startup whatever you build on. day one will be your very average. quality yeah that you have to admit if. you spend enough time in building. something very great then you all deal. it but what is more important is the. market whether the demand for it not say. payments in bank is inherently it is. digital by definition. so what we did right we created physical. asset out of digital thing okay right. because end of the day. but you have created Branch so that. people can come and know that data every. year winter is pulling more than 50 60.

lakhs people out of poverty for last 20. years right every year when this is. happening see I mean if you have to look. at growth of any country. it's not fair to look at the growth of. last five to ten years so that's. something you'll do for human being. right here. but if you look at. you after tears. and that is where you'll see the entire. curve going up. how do I reduce the barrier to entries. exactly make it more accessible.

right make my business product or. service more accessible that's what fmcg. people did right like I mean. if shampoo was getting sold in a big. bottle they started making like one. rupee pouches so that more people can. access to it and once they start. building this habit that exactly you. have to do with every Business Financial. Services in a very big way. right by lay if if a business has to. build a financial product they have to. spend six months with a bank yeah that. is the cost for them right I mean it's. not about money they'll be paying the.

same anyway it's a cost for them but for. finte coming like us they can go to. Market within two weeks right example is. like card issuance a lot of business you. must have seen key they are releasing. co-branded credit card in the market. yeah right because that brings loyalty. and and slightly called rather customers. with the bank and that is increasing my. cost. and if you work with Partners like us. and that will encourage for me to have a.

faster go to market so India may I mean. both things which alternate when you. look at tech industry we didn't have a. know-how of how to build the right. technology right product but we learned. it by getting into Services right all of. us like you know worked at SSR for like. 20 years worked at TCS Infosys built. technology for Global joints and after. 20 years people understood right so if. you look at a startup ecosystem like 15. years or even 10 years back we did not. have mentors and no one knew how to. build a system which can handle say 10. lakh orders per day. is there and you can you know you can.

always reach out to someone to get a. problem solved true that's you who did. you reach out to in the beginning to. sort get yourself out and solved see by. that it started I think we started in. 2015. okay right and then so again I. worked at Amazon for that so we had a. good sense of how to scale things up and. best part in Bangalore you have access. to like you know very very great talent. right and people who are at like a. world-class level and a lot of people. have come back also right people have. worked in States for 20 years right the. one they came back and they came back. yeah I mean they also believed in the.

story of India growth right yeah like. you know I'm done working here for this. Market I want to work for Indian market. and we have such peoples in the company. right who want to build for Indian. market and then at a stage where they. can contribute immensely right they. don't have to experiment because they've. learned a lot and that that is helping. the entire ecosystem right you look at. any larger company they are they are. getting you know taking advantage of. that growth which happened in the last. 20 years right so it's not overnight. and the people who are learning right. now they can be a mentors of you know.

next set of companies who will be coming. up say in 2025 2030 then ecosystems. ecosystem today itself is very mature. it's still it's not there where you have. say you as a China right yeah I mean. when it comes to like AI ml we as. industry is still at an automation stage. right a lot of things when manual like. there were thousand like parties in the. system and I'm combining it in a more. automated way so that data can flow. through system rather than through. people a bigger the one can do some work. file data. that's being replaced if you look at.

food delivery and e-commerce it's all. just automation so next stage is more. about intelligence right how do I you. know like remove people even from. deciding what to be done. they can predict like how many time user. is spending on their website conversion.

and basis that they keep on changing it. true and they also know which image is. able to capture more attention to the. people right so now the data is going to. the supplier they tell them if you want. to sell a sofa then this is how you. click a picture and that will be good. for the customer conversion and. everything is very system driven yeah so. these kind of work are happening very. less than India I mean these things are. still manual but in other parts of world. is happening yeah and if you look at. just to find less content industry. finally you had group of like writer all.

the you know like creative people decide. cabbage. that also system driven right if you. know. each other because the lead actor was of. this personality right the cast was this. personality and they start building. similar ones yeah and that is also. getting very very automated yeah even in. India when we start the company 2015 so. payment system at other places were much. more matured right things were handled. in a very sophisticated way but in time. we had a challenge about BC things right. key customer is willing to buy but. system was unable to accept payment and.

that was a big letdown and confidence. was not building up in the ecosystem. right because herbar you'll have a fear. um. yeah but unless I have very strong. motivation I'll go to the shop nearby my. cashmere because ATM is reliables. but instead of you know like putting on. the website I'll get it cash from the. ATM and then I you know yeah that's what. the Indian system was for the largest.

time right and it was very reflected on. it right if you look at 2014-15. e-commerce mess 1891 ordersfield Cod. delivery. the challenge was the change yes. given that he's going to visit like 10. 20 houses. difficult yeah right and that is a. problem we also faced here. like we order food we order groceries. her Barbie struggle right lot of time.

delivery see once you place order we. used to go to ATM so that we are ready. yeah right and that's something we faced. and we realized here why is no one. solving this kind of problem it's very. basic right the thing I can do online I. can also do when the guy is here true so. that gave us a sense of larger picture. then we Deep dive into the ecosystem. here coffee here suppose you have a lot. of geek on me companies came up that. time right Japan every 15 days they have. to you know like do some cash yeah. automated bank transfer character but. very slow process.

and an enveloped Global Market right I. mean if you look at us Europe things. were much more seamless automated. and asaniki there was no infrastructure. right India Visa Mastercard yeah and. they had like thousands of capabilities. but we were just using five percent of. it true right neither Banks were pushing. those good things in the market these. are payment companies where or had the. incentive to do it. right it's a lot of companies are. working at high margin they're happy. doing because demand meaning a lot of. times these consumer businesses they are.

not tech savvy they themselves cannot. even today they are not like very tech. savvy honestly. it's a spectrum but if there are. companies who are very tech savvy. companies who are still learning but. overall the because ecosystem right if. you take Savvy how will community tax. everyday because if they have developers. OR tech savvy product management taxi. then only company will be yeah so they. were also learning that time here what. are the possibilities. and that time in India product managers. were a non-existing role right I mean. project manager delivery manager right I.

mean that's all no one was thinking here. well how can I improve it I've not. satisfied. and that is my you know like playground. I cannot do anything beyond it because. no one was showing them here but what. are things are available yeah so give me. give me this background of let's say. somebody wants to think of this man. think of think about their business in a. certain way that I want to make it tech. savvy I Wanna Be Like A Boss I'll be a. manager manager I want to build like all. of these things and I want to take it. okay Tech enables it Tech first right so.

what do you feel like what should be the. right approach are there bookstore. resources to read what is the right. approach to think about because for far. majority of people they don't even have. an understanding of is. recognize the problem here my system can. be more efficient happy that awareness. is less. right people are just trying to optimize. what they can see. right so rather than thinking here. content instead of chart can I work with. two over three or can I keep the. salaries in check but they don't think. about can I do this what we call without.

a content right I mean can I go thought. process in here so that is more. awareness problem but if you look at a. lot of new businesses which are driven. by younger people yeah which have some. exposure about technology they are. thinking these lines on day one when. they're launching their business they. don't try Kia palette then I'll automate. demon itself their goal is here. automated smooth so I don't even have to. go and hire yeah and that is where. having a strong you know system around. payments banking is becomes very. critical for online businesses.

and I just want to you know write. program around it write a code so that. system can handle everything without me. looking at see no one wants to lose. sleep in the right right. you don't do trivial things yeah and and. people of this generation is was to use. their brain in a productive way. thus if you have to just review the file. if you want to just read your account. numbers. that's a very training job right yeah. you'll get time for doing it after 30.

minutes that's a TDS yeah that's. horrible yeah yeah so so a lot of. businesses I think I mean first people. are recognize a lot of business. recognize here day one I have to be tech. savvy so that I can reduce my cost but I. believe more awareness could be helpful. it's only about awareness images. next step I think they can they can like. like start looking out okay right I mean. we as a company is also trying to you. know do a good job in communication we.

try to be in front of them here if you. have this problem and we we write use. cases and we have use cases for say d2c. industry where use case of insurance. industry yeah and that could be the. starting reference point for them Fair. because we understand. their Solutions already so that could be. starting point for them right like how. to how do I you know run a scalability. right and they can read about stuff. which we have written I'm sure similar. can say someone is in the marketing. industry they might have written. something else so they can start looking. at these three four verticals right. marketing like having online presence.

payments Banking and they can at least. they'll have a starting point yeah they. know who to reach out so okay let's go. let's go back and dive into your journey. okay first is you tell me like first how. how did you come up with this idea yeah. and like why okay and when what what age. like I want to know everything so when I. was like say in 2019 years of like I was. 189 in that time. and I was in Hyderabad like in college. and we had companies we used to approach. students in campus to get their stuff. built okay right so we had some skill. set around how to build a good web.

application and all we met them okay and. that was first exposure to real industry. you know like solution building like. everyone spent for you in college but. they ended up just in college project. yeah and college projects are not. scrutilized in a very stronger way right. because it's fine you get this number. but moment you start building for real. customer they go hard on you yeah right. they say yeah if there is a failure to. fix it I mean it's more about being more. disciplined as a timeline everything is. a quality bar. so that gave me good exposure like how.

do I build it and then just built on top. of it right then after that company we. contacted some other company right so. foreign.

so the other thing and then like you. know after that the thing we're working. on didn't work out we thought. and that was a good decision right I. worked at Amazon two and a half years. and there I got to see how bigger. companies work right how do they manage. their High scale process see I mean it's. easy to hire a team of thousand people. it's difficult to make them very aligned. to make sure that productivity is is. more like being added rather than.

subtracting yeah right I mean that's a. hard thing but that's something you. learn only in a very established company. okay who works like a Clockwork right. they know. they have the radius defined let's go. let's go deep on this and then we move. forward because there's a very essential. part for every startup founder who's. trying to build something okay they hire. let's say 20 people 200 people whatever. right they don't know what 20 people are. supposed to do and how to give them a. line on everyday basis because it's so. difficult like so difficult you just as. a Founder a phrase this problem a lot.

like you just assume that hey. right so how do you make sure that you. believe you you said like you learned. that there yeah so when you are starting. up you have to look at the attitude of. people and you have to look at some you. know strong skills around analytics and. all right can this guy comprehend what. is happening right can this guy connect. a DOT right so so these are two factors. you need one is the attitude of learning. see a lot of times in status if you hire. someone who is very accomplished yeah so. they may not be willing to put enough. energy to learn something or you know be.

successful so everyone wants to continue. to grow in life yeah no matter where. they are. right because definitely as a startup. you cannot promise someone to be a top. right key you cannot say here you will. be doing 100 million Revenue that's not. possible you'll be doing 10 million. Revenue but already if someone is. managing business of 10 20 million. Revenue there would be less excitement. for them yeah it's very difficult.

so you have to find people and those. guys help you grow and build a company. in a much better way yes that is the. number one thing we always look for. right someone who has an experience of. going like someone who has an experience. of going from 0 to 10 and 10 to 100 but. is ready to do the zero to hundred again. yeah. depends right I mean depends I mean. there are two there will be very few. people who will do it so it's much. easier to find people who want to grow. with the company okay right someone who. wants to grow with the company but they.

haven't you know hit that destination no. so let's say what did what was your key. learning in Amazon like one thing if you. can. highlights. reviews Amazon used to do weekly. Business Review in a very discipline way. every week okay and once you start doing. reviews right you end up asking a lot of. harder question to yourself and you go. deeper if a matrix is not your data is. not changing then what was the root. cause of it. debugging a skill in business is what I. learned I mean I learned 10 nothing but. this was a very crucial thing I learned.

right if you review a business after. it's more about retrospection right the. Excel but it's true for any business. right after a month you should look back. here but this is what I planned and then. where am I failing and then you start. working backwards but coffee time there. is no like full-time owner for this work. that's why. [Music].

as a Founder I can do marketing I can. talk with my developer into 10 things. yeah but if you walk back you'll figure. out your marketing optimize Nita and. even though I'm trying to do my best see. lot if he has a Founder thinker I'm. doing everything best I put phone then. you have to think am I spending enough. time on it right do I even know all the. problems.

right so you have to start like. self-doubt a little bit right I mean I. mean you cannot do a lot otherwise it. will you know erode your confidence. with yourself we we will like play like. a devil's advocate with yourself. that's needed right that's how you start. going and that's ex and that's that's. how you'll know here if I go to hire. someone what will be his goal his Target. everyone will want to know that right if. you are bringing him in a company. that's a basic question people will ask. yeah and you have to articulate very. well right this is where I am these are.

the challenges and I have to get these. things fixed and there could be more. problems feature which I I don't know. today yeah something you have to figure. out but these are the five problems I. know and that could be five more. problems say in next one year if you do. things but you know it will be figured. out true so people should know here next. these are things I have to solve and. then things will grow and as business. scales are problems I mean it's it's the. universal law earlier.

with every stage you want to go on go. make sure that it's it's a new problem. which is going to make sure that you. know. it all comes down to your like time. management I mean you have enough brains. to put in this follow right I mean. everyone has a human capacity to write I. mean they can only work for eight hours. and they can only produce this much. output fair fair so now let's go back to. the Amazon Journey again you learned. this in Amazon and then you were working. for how long did you work almost two and.

a half years next okay and two and a. half years you were sorted with an idea. of like what's up. so we started slightly before that okay. like I mean I mean spent all almost four. to five months and like narrowing down. on this payment side yeah okay and the. payments were specifically because of. the same problem and the economy which. was growing and there was no ecosystem. so you said why not we become an. ecosystem so what's up and if we. validate it also right I mean even. before writing a single line of code we. tried getting customers yeah this is I. am building will you buy it or not and.

we even went to a stage where we were. doing agreement with one guy yeah so see. in a business two thing important one is. what you're solving there'll be need in. the market right but a business can only. be built if people are willing to pay. for it yeah so lot of entrepreneurs. Founders fall in this you know like. blind spot of here either. and they spend their four or five years. on it without validating are people. willing to pay for it or not. it so whoa I mean and I see a lot of. people thinking see I've worked in. co-working spaces for initially three. four years I have looked around people.

and this is now I learned later right. why these these guys were not successful. despite solving a very right problem. because there's a need yeah there's a. need but it's not a want or people are. not willing to spend on it. fair right say simple example and. everyone's here mother I can you know. like I can buy Mercedes right no one. will say no and we will put here I. forget the Mercedes but they're not. willing to pay for it how will you solve. it so you have to put something that. they are willing to pay for it yeah yeah. that is defined by market and your.

product appeal. like I mean like imagine like six years. back who would have thought of buying. mobile phone and one lakh rupees no one. can think like that right as it's easy. right everyone is carrying one like. phone very comfortably yeah. exactly because what is market be mature. up this product also has become more. appealing. so that is what we use a lot right so. you feel let's say so talking about good. ideas I want to break this down and Miss.

summarize the whole thing they're. talking about good idea like how do you. spot like a good idea and good. opportunity the first is you look at an. infrastructure what is let's say if the. growth story of India's big building or. the story of an industry is building. what are what part of infrastructure is. missing that's what you look at first. second is you go to like you try to find. out like is there even a need for it. will people pay for it or no and then. once you realize that people pay for it. then you feel like how do I make my. product more appealing and more sexy in.

order to make sure that it it has an. aspirational value that it sticks and. people are ready to pay more right these. are the top three things which you feel. is an idea aspirational would be you. come slightly yeah the startup whatever. you build on day one will be your very. average quality yeah that you have to. admit if you spend enough time in. building something very great then you. all deal it but what is more important. is the market whether the demand for it. not but imagine if you go to any tier 3. city in India upstairs coffee you know. like Business Center but there's no. demand I mean who will come and work. there I'll see here.

but that doesn't happen. if you look at the last startup they did. this right. demand like there was no time for them. there was no market for them. there's a demand but there's no right. product okay you have to start with the. demand. so coming up coming to an example like I. was reading about it right so just say. Google. around before Google right I mean there.

are directory services. people had a need of finding something. very fast same thing happens in banking. payments industry see payments and bank. is inherently it is digital by. definition. so what we did right we we created. physical asset out of digital thing okay. right because end of the day. but you have created Branch so that. people can come and know that data.

payment has to be digital but we created. physical manifestation order something. digital so talk more about like banking. system in India how did God evolved and. what do you where do you see it going. let's just talk about future banking. system I think good part is it matures. slightly later I think a lot of other. words right banking has evolved much. earlier yeah right there have been a lot. of Legacy system and they're still busy. maintaining it given the India a lot of. things started very very late right we. have been able to LeapFrog and and come.

to the right solution very fast. even if you start with core banking. payments right thing yeah it's very hard. because we thought about present Bucky. continue there has been resistance about. preserving what has been there and. people same problem I mean the example. we took on the businesses in India who. are unable to change the process that. same problem is in other geographies. other Industries. right but given that if you start. solving for some problem today right. obviously you will use the fresh ideas. and that's why India has been able to. LeapFrog on fintech much better than.

other countries. but you you love like till now whatever. your conversation we have you love. talking about India growth story you. love like understanding that like what's. your what's your take on where is India. moving what do you feel like what's the. big story for us because a lot of. startups a lot of people around the. world they say that bus India consumer. buying capacity. we talk about all these things right but.

where where are the customers the the. GDP is very low like the average income. per house is very low so where is the. growth story going like what do you feel. like I'm interested because I believe in. Indian grocery as well. it's more like a chicken and egg problem. right I think we have to start thinking. about serving basic needs of the people. and then and then they can start I'll. take example let's take example of a. farmer in a rural Village right if you. have to buy something I just go you have. to take a small bus. you'll go to the bank withdraw like 500.

rupees go back to the his village and. then buy something every day not every. day once in a weekly spend like five to. six hours just doing this yeah now if I. replace the entire process with a card. in the hand of farmer right so he can. save six hours very productive hours so. he doesn't have to travel to a town. right City. and he can do better work in his produce. very basic example but very relevant. yeah. and that will help him. grow his business right job your. producer that will increase it right so.

we have to think about bringing. efficiency in the system and fintech I. believe is a big enabler of economy. right if you're able to give more time. back in the hand of businesses then. they'll start producing more yeah and. that will create a cycling effect in the. economy because that guy will become. richer and once he becomes richer. obviously you know he can buy more. then there will be a lot of businesses. encouraged to sell to that guy. um so apparently we have to start with. the entire you know like efficiency. right efficiency how can I make people.

more efficient. because of infrastructure right I mean. take example any like travel here and. payments has also has been a such a slow. process for a long time right coffee. time people spend time and that is not. letting people spend time on things. which are important for them. second thing was access to Capital right. I have great idea but no one is helping. me to kick start right yeah I mean if I. have to set a small bin that requires. money in another Market that has been. easier after 78 years right I mean like. you know people trust more and they have.

the entire Trail here if I give money to. this guy he can repay me inside 18. months 20 months in them challenge more. about data right time a lot of guys. don't have a data thrill yeah no one. knows Kira whether this guy has made. money in his past business or not. because it was primarily cash driven. yeah. not there if this guy starts using. digital payment site at least he's. creating a history so I can simply look. at that history right and I can verify. his detail and give him access to. Capital exactly right so either problem. one is Access Capital secondary. efficiency.

and that will help businesses produce. more right that will increase that will. you know like put money in the back of. people even say employees are working. business right they'll start earning. more and that will create the market and. that will make the market bigger. and this phenomena has been happening. right I mean every year window is. pulling more than 50 60 lakhs people out. of poverty for last 20 years right every. year and this is happening I mean. there's any I mean if you have to look. at growth of any country. it's not fair to look at the growth of. last five to ten years right yes so. that's something you'll do for human. being right.

but if you look at you have to look at. 50 years. and that is where you'll see the entire. curve going up yeah yeah right so you. have to believe even though what we are. building we are thinking like 10 years. ahead because I know the saal bath in. time there will be like 20 30 convey. Flipkart Amazon and they'll have huge. demand around payments banking system. but that time will they have the right. infrastructure to handle this kind of. traffic or not and that's what it. doesn't have to prepare today. right I mean Whatever Baby Steps we are.

taking that is the end goal right agar. kalco and at some point we'll hit that. saturation point and at that time and. this is again same thing right I mean. like having if you have the extra right. Supply then only you can innovate more. and we have seen businesses who started. on cash free on day one right I mean we. have a lot of I mean you could take. example of cred right credit started the. business one day Zero at Cash 3 and. they've been able to scale up their. entire payments on the back of cash free. and Suppose there was no cash with that. time yeah it should not be very. difficult I mean they might have been. possible they might not be right but.

since we were around they've been able. to scale up very well quickly right and. in very reliable way and that's why we. have been very proud of right so a lot. of good businesses we have seen in last. seven years have been successful on back. of the infrastructure that we have built. right and that will be defining moment. for all the you know next set of. startups so you've mentioned about cred. right and the kunals I heard is one of. this I think one of the reels of the. shots was going viral that every. business in future is going to be. fintech business. right so what what's your take on that. like if you believe like fintech is no.

more going to be an industry fintech is. going to be an essential feature in. every industry do you feel like there's. some Merit to it or like what are your. views on it see it depends on the. industry if you talk about b2c consumer. apps right there might be some incentive. see because every b2c app will loyalty. yeah they want to have customers working. with them or buying with them right and. and once customer starts trusting them. they can lock them in by being more. loyalty right and that is where the. market is moving right if you are.

running a travel company. but foreign. Goods to Services they can be a. distribution agent of financial product. that is where the world will move but it. cannot happen you know selling a laptop. hardware and different site if you want.

to you know increase my sales I myself. can give loan to the customer yeah right. so that way you can be fantastic so. people are just trying to maximize their. you know business Revenue they want to. have more stickiness and they want to. make life of customer easier and for. that they may have to get into the. business of Distributing Financial. Services also a lot of small businesses. are very driven out of personalized. tailor-made services for a lot of people. right but there are few things which are. standard for them and there are a few. technology which are standard for them. so since you are in fintech your. finances right Finance is pretty much.

going to be standard for them it's not. going to be very small business. integrated Financial system they have to. use like existing infrastructure right. so how do you feel like how can every. small business. though they are supremely differentiated. in their own region how can they use. existing service like yours or maybe how. can they take help of the growing. fintech or the other technology which is. growing out there like how can you help. small businesses in offline world right.

payments happen after the purchase. if something wrong with payments I can. always go to the ATM. it's fine so purchase with this this. minimum impact but the people will buy. but online means something goes wrong in. the payment yeah what will people do. right. or I could I cannot make a payment. they'll drop out and it's more painful. for small business for larger companies. right they look it as a metric yeah. it's a big deal for them yeah right.

bigger companies can afford it because. it's larger metric and they know yeah. they'll come back right it doesn't. impact them a lot because they're. already large they'll see it as a number. yeah but smaller business who's trying. to take off the ground zero to one. channel every customer is important yeah. then it's a big deal for them and we. have been working a lot of small. businesses and initially a lot of. business is very small right selling. small like 40 startup in Pune Fitness. startups say in like Bombay right and. there were some events company in. gurgaon but decent small businesses yeah.

doing 50 lakhs 70 lakhs and they're. extremely caring about their customers. and that also gave us a good Insight. yeah customer important and it's they. also get very emotional about it and. that's valid right you'll become because. 100 you are putting your you know like. entire heart and soul in this business. like working 15 hours every day if a. small kitchen you're losing your sale. you lose your customer you're unable to. build a brand you are unable to build a. trust yeah and that you know pains them. a lot right rather than Revenue. that you reach to last set of people and.

when that doesn't happen you start. panicking. right so so we start with that so once. the payment is a smooth streamline next. is how can I you know like encourage. customers to keep coming back to me okay. right. and how to make sure you made it yeah. right and then if customers repeat right. I can afford to give him like some. discount because he's a loyal customer. I'm already making money and it's okay. for me to just give a discount and also. you know build trust with him right yeah.

and for that also it second comes back. to your ability to build such kind of. system right given that we or any. payment system knows how frequent is. customer shops with you right I mean we. also help them with the entire loyalty. entire reward right so they can always. come back and and we suggest them this. is a repeat customer. want to incentivize him more so that he. only buys from you yeah because beyond. the customers choices.

these are first-time customers and this. is what you can do to increase. conversion oh nice oh there's a on your. platform itself there's a way to look at.

that dude that's a massive problem of. the data analytics correct what what. will you tell about like I want to know. like what all do you tell and small. businesses cannot do it right it's a. very Tech intensive problem Oh yes right. and they don't have right Talent OR time. to even solve these problems right I. mean that's the thing and bigger. companies can do it they have resources. small business cannot and they need. support yep yep yep and and third is if. you're selling a high ticket product if. you're selling 10 000 rupees product for. example let's say if you have a Fitness. training institute and you want to train.

you know like instructors so these guys. already are working on very low wage. yeah right you're selling course of like. ten thousand twenty thousand rupees and. they can only afford to pay you 2000 per. month they cannot do it. right then how do I you know like. encourage these guys too so they like. the product they want to be part of you. but um. so there you need some kind of you know. like Emi solution part Payment Solutions. instead of paying my entire money in one. shot right you you just split it out you. pay me in five months six months. and then this payment ecosystem can.

again help you convert that purchase. right if you don't have a payment system. which can help you split the payment. then you'll lose that sale right yeah. and you won't be encouraged to do high. ticket size but as a business you know. by 30 years. let's think about products are those. Army I can have reach yeah but your. product is very appealing and it is very. personal here you want to sell such. product. so these are the very again I just took. very simple examples but very relevant. okay and 90 businesses I think can be. benefited if they do just 200 100 I want.

to go deeper on last two points okay the. first was straight up that hey you need. and you want to make sure that you need. a seamless payments option where your. drops are happening less like that's the. biggest problem because. exactly and sometimes it's like tomorrow. you're getting very panicky it's like oh. right so these are the experiences which. people know the first thing is.

understand second is the data analytics. right I'm super interested in that tell. me like two three or four places where. you can help like a lot just say first. you said you can give people data of hey. tomorrow. so these are the people you should focus. more on you should try to focus a build. more narrative so maybe upsell them or. like build something uh like give them. more lucrative foreign. what are the other things like data. analytics right you have a lot of. relevant things right suppose I can tell. you here you're in a week right in a.

week after 30 sales Tuesday a lot of. people may not even look at this data. yeah but if I tell you. they can keep their teams more ready. they can tell the customer support team. be more ready because orders are there. and they can like be more prepared right. because that is the day I'm going to get. more cell right and that I can tell them. the second is about the timing right. I'll make sure I have like an on-call. people awake at that time and so that I. don't get surprises yeah if customers if. customer has a question that time then I. make sure my chat support has more.

people to support them because questions. are then they'll ask right I mean like. will this work or not what is the color. I'll get right you need to make people. available so that will tell businesses. what to do to you know have a strong. sales and keep growing their sales using. these data a lot of these data it's hard. to Crunch right I mean as a business you. don't ability to accept it it's just in. a number database. and third is more about the geographies. right then you think about what can I do. to you know customers because that.

market is responding well to my product. right yeah because a lot of products. geographical appeal suppose you're. selling a raincoat right I mean no one. will buy any places. yeah right I mean that's natural to. think at the same time data can validate. that thought yeah sometimes there's few. things which are very very common but. you realize after looking at the data. was uncommon for example I was looking. at the Masala sales of one of the. companies right they started selling. online recently yeah they and they got.

to know there are out of there let's say. 20 different types of masalas there's a. specific area in South. specific like specific City not even. State like specific city which orders. sambar Masala the most versus there's a. specific City in or near Kolkata uh in. West Bengal where pav bhaji Masala was. selling the most right so these are this. is the data which you mean which you. meant by like true because it might be. so obviously.

but the moment you get to know oh this. is the city where people are taking. poverty massage. sometimes it's not even common because. to me the moment you think about. yourself. right and when they had an Insight it. just shifted the whole narrative see. data makes you more intelligent right. end of the day right I mean you have. access to more knowledge and you can. make more intelligent choices in running. a business you can scale faster yeah it. also increase your success probability. and that is something payment system can. be very helpful I'll delete one more use.

case that we have signed up one Merchant. very early who are selling like high-end. watches okay right watch would be you. know like one and a half like 1.4 lag. nice offline one way sometimes you. bargain right here is. that guy and create invoice and you want. that yeah online with gets difficult. right because I cannot change my price. dynamically right customer he's willing. to buy and you don't want to lose a sale. right I mean suppose on the default. listing price you are making 15 margin. and you're reducing a price you're still.

making ten percent you want sale to. happen yeah online how do you manage. but you don't have ability to sell yeah. right I mean one thing you can ask your. approach a bank transfer though. but customers cannot do it right I mean. everyone will not do so there you need. something like we have product or. payment link right I can directly go to. Cash 3 I can create a new order and add. the amount which I want to get from the. customer the customer model and I can. share the link with the customer so it's.

more like a payment Gateway experience. but more more direct and a lot of small. businesses sell on say Instagram right. they'll put a nice catalog people will. come chat with them. right I mean you can say. this is a trust issue yeah and you're. not and if you don't share the product. and that's why a lot of these guys need. intermittaries see business a larger. goal is to establish trust between buyer. and seller yeah unless you have a very. good brand and that is the payment. system can help you establish that trust. it's not just about payment it's also. giving Comfort to the customer the third.

party agent which is like you know. related which is like having the right. checks and balance if something goes. around he'll help you with the dispute. so as a seller you can gain more trust. by using payment system instead of. directly interacting here you cannot say. UPI. and given that a lot of cyber you know. like thoughts happen right people are. not willing to do it fair nice yeah and. if you want to scale the business you. have to use it to have additional brand. with you you've seen immense data you've. seen businesses growing you've seen. businesses failing you understand a.

larger thread of it right so tell me. like the common patterns of uh like. businesses which you feel that they fail. let's say these are the top two reasons. why businesses failed or like maybe. based on your data I'm not talking about. you cannot obviously you cannot. generalize things because every business. fails for a different reason exactly so. but like from a larger Point what do you. feel like you saw certain patterns. from your data point of view so again I. can tell you in the perspective of. payments banking right so we have.

covered businesses who have a very good. product right but who's but appeal for. those products in less than indium or. outside right the example you are. building some ethnic product product and. trying to sell it and you're spending a. lot of time I think product but there's. a big intent diaspora over settled in. say U.S UK Australia but for them it's a. very attractive product. right so how do you do it you can put a. website a payment system yellow but if. your payment system is unable to accept. payment from these guys then you cannot. make a sale and that product doesn't.

have a lot of demand in India right. because you have to pay it's a very. common thing right yeah okay it's like. everywhere you get it but what it's a. niche thing yeah that you can show it. off here I'm wearing the higher I think. exactly so there we see you know you. have the right product you have right. intention but you are you know like. unable to solve this payment problem and. then you cannot see a growth in the. business that is something we have seen. honestly right that's like just this lag. I don't know. lack of understanding of where to price. your product and how much and how to do. that is that what you're making sense.

price and also have the right ability to. accept money for them and second is. second is what you've seen right lot of. times payment system become costly for. them and to accommodate that cost right. so if you use a payment processor. globally upco five to seven percent you. have to add a markup and and to. accommodate five to seven percent markup. you'll increase the price of your. product yeah and for that you become. globally less competitive right but for. that you need payment system which is. very cheaper this I can reduce my margin. make my price more competitive and I can.

be more successful in global world yeah. yeah so no fair so now let's talk about. the growth story okay if you're like now. already believe that every small. business can gain from these kind of. systems and so but for this like a lot. of small businesses need to come online. and do you feel that every small. business will eventually come online or. no they are right I mean the reason is. small business coming online because lot. of innovation has happened in payment. system. right you know otherwise it would have. been impossible right a lot of. innovative ideas would have been.

impossible so if you didn't have a right. payment system in India right and that's. the starting point now people are. encouraged because see creating website. was possible 20 years ago right yeah. right commerce was a challenge. right and which is started sorry which. started around 2009 10 11 right India. maybe things started very basic thing. like online applications. and then Commerce got perforated in last. 10 years everything was possible Right. marketing foreign.

business a lot. so growth in fintech growth in payments. will encourage more people to come. online because it's implicitly good for. the business right yeah unless you have. extremely touch and feel product I mean. it's a very small case but even their. people are able to do it right but so. what my eventually question was like do. you feel like India right now is also. we feel the backbone of India small. businesses right it's and it's largely. offline driven in fact I was reading a.

study that even in U.S own the online. ecosystem is only 25 75 is still brick. and mortar correct so India I'm sure. that number is going to be super less. like I don't think five ten percent well. I don't think so I don't think so so. India has problem around real estate. this problem or infrastructure Titan and. real estate is also costlier here. compared to other countries yeah right. and if you want to be competitive if you. want to make product price cheaper right. then you have to try online there is no.

other way I gotta feel like more and. more people are gonna come on that's. default route in India already right I. mean like online first businesses are. going to happen I think more than 50. business in India are online first even. today. right that's how they start. be it fintech be it goats beat services. and that's that's how they got renting a. shop is very costly right you can't get. a place in premium premium area yeah the. second you have to pay humongous cost so. investment is a lot no I was talking. about like let's say people who are. already offline this last yeah setups. now they want to go from a growth story.

okay. do you feel these people are going to. come online and if they come online. how will they Market themselves because. such noisy and cluttery because not. every product is innovative right there. are large majority of people and large. majority of businesses who are only. acing because of the regional play. because of the geography play. [Music]. busiest.

now that person wants to be like medic. Electronics shop example right and I. sell headphones yeah right so my. electronic shop headphones. now. I sell let's say two lakhs a day yeah. how do I make it to three lakh four lakh. a day the obvious step is coming online. but do you have any view on like let's. say how will they sell then because it's. so difficult for them to stand on. space cabinet locations.

like just asking like what point of view. true right I mean see in the offline. mode you get two lakh football but. internet when you have like cards of. people there's footballs are there no. your job is hard to attract them exactly. it's so difficult to get them two ways. to compare for any business one is like. having a very differentiated product. second is your service quality right. these are the only two ways for them to. you know like like have a unique. presence. which is no one else is selling then. people will find you online you can be. successful but if what we are selling is. also sold by 10 other guys then you can.

only compete on service right either. it's a good customer service either you. make your entire Journey reliable like. trusted right ability to be flexible. and that's how you can you know attract. people over a period of time right I. mean day one pay obviously there will be. invoice but you have to start somewhere. yeah. give them the kind of service which 10. people will eventually make noise. correct correct it also depends on the. business right a business extremely. localized then it's difficult I'm not.

saying that every business can be. successful online and that's hard and. there are a lot of you know winners. already in certain space. today it's difficult to start a you know. like horizontal e-commerce company it's. difficult I mean this is not impossible. but difficult yeah yeah difficult. because if obviously it's largely solved. problems correct correct so children. always you know look after something new. right something that is your unique. strength and that has to be there. otherwise you know what is the party. starting business if you don't mention. extent okay let's just talk about this a. bit okay like I love talking about.

startups and why startups fail or why. startup succeed you are fairly running. like a large successful startup as now. and you you have seen your journey like. you you went to YC also you've you've. started your journey like in college. maybe you you were doing a couple of. things and you did a job so you've seen. ups and downs right what do you feel. like what what are the top three. key attributes which makes the startup. successful as per you see starting point. is the market right if you have a large.

enough market even though you start at a. notch optimized eventually you'll you'll. come up with the right product and. service if the market is big. right so choosing the right Market is. very very important for startup right so. if you're selling something which is. very niche market I'm selling a bracelet. of 40 000 rupees Market will not be that. big right ever right but if you're. selling a fitness band of 2000 rupees. you know people are Fitness conscious. yeah and this Market will continue to. grow yeah right so then I have higher. chance of being successful that is the. starting point like Market has to be big.

plus information is always like a good. market like you you tell people about. themselves more it's always a good. market like it just it just boundary so. what is marketing starting point second. is the product what you're building okay. right I mean product has to be you know. like appealing it should be solving a. need or want of the people right I mean. it's something right man there are needs. and wants are defined for the people. right and it's I mean there are like. four or five key areas right either. people want to you know like improve the.

lifestyle right they want to save time. yeah right they want to like enjoy their. life more right so these are four or. five areas and you have to bucket your. product in one of those areas yeah if. you're happy to see obviously we have. B2B I mean you have to think about the. businesses right what are the challenges. the businesses how can I help businesses. make more money how can I help. businesses get more customers but these. are key problems and if you're not. solving key problem for your customer be. it as a business or end consumer it will. be difficult for you to scale up. it has to be very key problem one of the.

big problems for them and there are a. lot and for that you can you'll have to. do research you have to understand. people it's a bit psychological but you. have to understand people you don't. understand either business if you want. to do B2B you have to understand. consumer. right like why consumers are looking for. this so I have I have a like a slightly. broader perspective on this. that how do you come up with like. exactly what he said exactly with a good. idea I feel every idea is good if your. idea or your business or your startup is.

increasing pleasure and reducing pain. okay for whether it's B2B or b2c if you. are B2B if you are increasing a pleasure. of a business and reducing their pain. points you are not good business yes a. pleasure for b2p are numbers I think. I'll simplify it and this is not it's. not something you can't imagine and. businesses are well measured yeah. businesses really make impulsive. decision very rarely I mean they do but. really well consumers make impulsive. decision yeah that's a difference. and they're also I mean the right way to. do is keep talking to them right.

understand how their stakeholders work. right see for a business you just can't. look at personally running the business. you have to look at all the internal. teams financing problem operations where. are operations spending a lot of their. time. and and coming at a point you have to. look at what can I do to reduce pain of. operations team what can I do to bring. pleasure to the marketing team exactly. right but it has to be a bit indirect. yeah right why will marketing be happy. marketing will be happy if there is. spending less getting more customers. right and why will the product team will.

be happy right if they're getting you. know like more conversion yeah so those. are problems we attack right so rather. than looking at the business overall. care that's very high level that's hard. to pull it off you have to look at. slightly one level below right you have. to know how do I make head of this. department successful right and that's. why you come up with the right idea yeah. and then the other part is also which I. believe is if you are in a business. where more business can be built out of. your more business can benefit out of. you it's a fairly good business correct.

I can take example right we started this. product payouts in 2016. okay at that. time we spoke with that product so. payouts help you disperse money to your. customers or vendors in a very automated. way and without any error right I mean. it will be almost error free so that. time we came across companies in travel. space and in like Marketplace space and. their head of Finance has been. struggling because they say yeah. I don't know why right I don't know.

right either bank is. and I don't even know which are the two. payments 20 payment which got returned. yeah they have to put people they start. reconciling onwards they start matching. consists a lot of time same time you'll. have the vendor shotting on you yeah. unable to pay and and once you start. seeing your bank a problem it starts. sounding like excuse. rightly you don't have to pay me one. time and the life becomes harder yeah. but if they use automated solution or. payouts very minimum charges error you.

can verify the destination bank account. number like in a real time. I cannot initiate payment you give me. the right one right so everyone stays. you know very predictable. and that's how a lot of businesses we. have seen is adopting this technology. this product not because of saving costs. obviously the saving cost that's uh like. other Advantage more about having more. reliability in their operations yeah. right people doesn't have to lose their. minds they don't have to do things which. are very tedious and very ugly right I. mean that's a very boring job.

foreign.

so so I should go and work with the. company which is more reliable yep yep. yep so money is a very big factor in. establishing trust that's how we see it. a very big factor right right and then. money defines the character of a people. right. then I start doubting and that's where. we see ourselves as a trust enabled. trust provider in the economy if I and. we did it right I mean before cash free. refund used to take six seven to ten.

days. foreign. once you have once you know carrier. reference because different windows are. there yeah right then then another. refunding that window objective.

so you have to take the button of you. know debating money refunding it back. right you just let the money park there. nice social really helped us one is. reduced cost second is increase Trust of. the customer yeah because instant. dispersive refund as well exactly. exactly so so all of these things are. helping customer trust businesses more. because you're solving the very key. problem product quality and all business. can sort on their own right but money. problem is something they cannot solve. on their own yeah right they need help a. lot of help yeah they need help and that.

is fair things for building are very. relevant for the growth of online. business in India okay so let's apart. from this okay now that you talked about. happiness you talked about parking money. and all these I feel these are the small. small factors which contribute to a. scale and growth of certain businesses. right so. what do you feel like when you were. scaling your startup right what were the. key components like how can people scale. their businesses. because you've seen the scaling part. right because and there's a we are in an.

era specifically where every day we're. talking about bus Blitz scaling you know. like 10x growth or quadruple growth 100x. growth it's about X nobody's thinking. right so scaling everybody has this idea. of Mera product Market fits. products. you know so that's like what do you feel. like what's the right way to scale or. what are the challenges.

starting point I'll say is again product. Market fit if customers are snatching. products from your hands it means you. are successful yeah. I'll simplify it right no matter what. product service you build in the market. in the world right you can always find. 1020 customers. right you can always push it harder and. people will buy but unless people are. snatching from you right they're coming. to your door here you shouldn't assume. you are successful right you still have. to do more work and once you have the.

feeling yeah product then I should start. from scaling right now okay well I. should start thinking about the skin. that's something we also believed right. I mean initially I mean we started it up. right we had a belief carrier but we. waited for that moment you know broad. Market fit her then we started scaling. very faster so the full effect marketing. once you have the full effect validation. yeah and and then after that see I mean. as a small business you should be. ambitious right I'm not saying here you. become very risk hours economic.

calculator you have to be ambitious you. have to set ambitious goals and that. will help you find things that we don't. know today okay if I tell somebody. suppose I said that Target then I'll. definitely come back with the like you. know block points or the enablers which. can help me grow 10x. very example which is relevant for us. right how do I make it cheaper for them. to make it cheaper I have to let them. buy it in installment. right and then only I can reach out to. customers that I'm unable to reach today.

like suppose this city has 50 000 people. for example right this is. that's how I can scale right I have to. increase my consumer base yeah yeah. right and this is one way to grow your. consumer I make it cheaper for them I. let them pay installment access what I. do exactly and then I'll have like. higher skills so you have to set the. goal first 10x5x come back and see. problem right because I know people want. this that's a good way to succeed okay. you guys do cards as well yeah we just. started wow okay tell me let's just talk.

about like the top five things which you. do the first is the providing the. payment gateways payment acceptance. payment acceptance is very wide need. yeah we do that next is like payment. dispersal right third is like reacting. payments disposal as in as in like you. have to pay to your customer pay to your. vendor okay right so if you are running. insurance company and you are seeing. like 10 000 claims per day right. so you need a system.

payment which is again big suppose you. are a Content platform and you have a. like monthly you know subscription for. your customer right you cannot send them. a payment link every month you'll have. less customers every month so that's the. third product what about the fourth one. fourth is like you know like identity. and verification that we see very. adjacent to payments product we are. building right because before using the. payment you want to verify who the user. is but you want to verify that and. verify their bank account right verify. their other and then only you can give.

them access to your product this is. something we saw as a blocker for using. payments right because onboarding may I. see lot of Decline and these guys used. to spend a lot of time in just making. the platform acceptable customer so. verification risk is the like other big. one and the recently we started this. larger umbrella product banking in the. service okay where we saw this trend of. a lot of these businesses wanting to. deliver Financial Service to the. customer. to increase its thickness to increase. thrust so banging by means let's say Emi. options credit options that's more on.

payments banking service more about this. example it suppose you are a Marketplace. upseller onboard color and a lot of. sellers may not have the right banking. system with them right and they cannot. do a lot of things which you want to do. right so if as a Marketplace I can help. myself and open a bank account then and. there when they are registering right. then the entire Journey for them is easy. yeah for example let's see if your. delivery company you are getting like. you know 10th on your delivery guys. every month but if they don't have bank. account how will you pay them salary. and you will tell them here is Bank. budget account Hollow right these guys. don't know how to do it right but as.

part of your onboarding right you can. give them option there click here to. create an OP bank account but I can open. it in the back end. nice all right so on that umbrella I. think account creation is one of the. things we have been doing next is on the. card so a lot of this options yeah like. Card issues it's as part of banking. service. let's say if you want to start like. figuring out branded cards we can do. that one of the use case and if you say. Neo back right if you are say new bank. for a very underplayed wage workers.

and they don't know how to save it. but if you can like encourage them to. take money in a prepaid card right. they'll be end up saving some money. every month right and they'll become use. that money in a more productive way so. you can like directly make them get rid. of cash and take their salaries in card. many use cases around it even. incorporate people manage expenses and. it's unable to win a centralized way. everyone uses their own credit card free. reimburse right it's a hassle as a. company I can distribute 50 cards I can. put controls like manager this.

department only invest 10 000 in a month. I don't have to approve right. and I'll just pay it back and I console. limit key that ten thousand can only be. spent on software expense I can Define. it right so as a business I have to be. less foreign. okay tell me the best book you feel. everybody should read and tell me one. best like one book which every. entrepreneur should read this book is. reading font and head very long time ago.

okay right it's a very big book right I. was like 98 Pages such a small letter. it's very difficult to read okay one. thing I can read right now but I read a. time when I had a lot of free time and. that book changed perspective about a. lot of things right I think I read it. almost like six seven years back okay. what did you change that was the key. highlight of the book say the book. focused a lot on you know making things. which are more vanity and and things. which are more functional right that is. the larger theme of the book and there's. always a war between vanity and.

functional okay explain explain more. good give me easier. one used to focus on traditional design. things which are more appealing but less. helpful okay another guy was more. practical it's more about if I'm. designing a window I should design so. that more air can come in okay and. people can feel more comfortable whether. I can design something which looks very. beautiful okay but doesn't help the.

people who are inside the building right. I mean there's a lot of such examples. yeah right so that is very I mean in. this industry right I mean like there. are a lot of Market especially in India. looking for this part vanity not valid. the utility functionality right I think. and that's how the you know societies. can evolve the starting point to solve. is more about usefulness the way the. country is today right I mean that's so. I think if businesses think about. building this which are more useful more. functional and vanity could come later.

but it depends on the options of the. people. right so so we always focus on things. right which are very useful for. businesses very important for them. rather than things which can give a. perception of being good but doesn't. really help you let's say if I'm giving. something which makes me feel very nice. but doesn't solve the problem right I. mean I know they'll not use it right. there. right but end of the day say if you're. like selling a house right it looks very. good from outside but what if water.

drops from the floor yeah you can't do. anything yeah yeah so that's that's a. thought I mean I've been carrying we. have been carrying whatever we are. building it should be very useful right. it shouldn't just be for the sake of it. it should work and that helps people. give a good experience to the people. right so example right if you're a. bluetooth company you are writing lot of. great content you will have feeling very. nice to interactive with your brand but. once you are selling something you know. once you are building a website and they. have a bad experience then they'll not.

be loyal for you yeah. right so I mean it's not a very direct. pattern we can draw but that was a. larger idea that usefulness is important. you have to prioritize that and this. book was written like I don't know 1930. 40. that time it was very new idea right. yeah right I mean the entire and that's. why if you go to places Universe you see. things which are you know very standard. very uniform and it's functional and. that helped during that period. right in today's context I mean people.

would want beautiful invited things but. that time when the resource was less. right you have to focus things which are. more useful more helpful rather things. which are more fancy more beautiful so. we have to recognize that I think even. in India if you're building a business. if you have to focus after things which. can really help people grow which can. really help people solve their key. problems that are coming back at the. same key problems like bigger pain. points yeah then you'll be more you have. more priority of being successful I. think doing something which is a bit. fancy under the next site like classic.

people in States we had this research. that only like 25 businesses are online. the rest everything is Brick and more. task correct India I'm assuming that. number is far more because India is. still not that online right and since. you talk a lot about you're gonna help. and become growth Partners or small. businesses then how are you helping. these businesses who are not yet online. like how are you helping offline small. businesses and helping them grow as well. so true see see we see that there are a. lot of businesses right which will. continue to be offline because that's.

the product is the example of a cafe in. your nearby house yeah right I mean you. cannot I mean you want to go sit in the. cafe sip the coffee and do it but now. they also have a lot of challenges. around you know like digital payment. spanking and all right I mean why one is. like accepting payments right you cannot. keep on getting cash from the customer. right you need to find a easier way for. them to pay and that's where we thought. about this problem and we saw a lot of. guys have to buy the hardware machine. which is costly if you're running a. small Cafe you won't be paying rental. fee right you won't be you don't want to. maintain it as a hassle right and then.

we thought can I have a software. solution around it rather than the. hardware and that is where we came up. with this idea of building an app which. can be installed just on your phone yeah. and you can accept card payment just by. tapping your card on the phone oh nice. so this way for customers I want to pay. using card you have a solution ready you. have to go and buy a hardware and spend. a lot of money on that nice so you just. make like every phone like as a tap. exactly every contactless machine. exactly that is one second is even. offline world the problem loyalty stage.

because there are 10 campus near your. house right and if even though you are a. regular customer on the cafe if they're. not doing anything bad for you you don't. have a lot of incentive to visit them. yeah right unlike you like the people a. lot but then what if that guy can give. you a cash back every time you visit. right but it's difficult for them to. keep track of it I mean they can. remember the name but they can remember. only 10 people 15 people yep but if. they're getting thousand customers they. need a system to automate it right and. since payments is going to be registered. you can just add a layer if same guy is.

paying again you can implicitly give. five percent cash back after the payment. and how easy it is for people to let's. say Pharma because I'm assuming more. than cafes like every small kirana. kirana store would need this yeah. because they're like pie Mera customers. so I want to make sure that every time. they come to me and I want to give them. like a reward or like something like. that right. yeah yeah I think sword Pierce is a very.

very good technology right they don't. have to invest anything see lot of. kiranhas very thin margin business yeah. and they could can't invest a lot on the. you know these kind of payments tools So. Soft is definitely going to help them. reduce the cost so they can do 10 other. things right when their boys delivering. product to your house you don't want to. pay cash they can just send a payment. link to you you can make the payment. from your house yeah third is for buying. them from every month right you can just. you know agree on a mandate end of the. month kirana can send you a bill and. debit your account you don't have to. worry about making payment to them and.

how easy it is for these people to do it. very simple just go to the portal and. start doing it see lot of solution that. we started was very API driven okay but. we also understood there are big set of. businesses who don't have ability to. integrate apis yeah and that's why we. built a lot of no code solution right so. the customers can just sign up the way. they use any of the b2c app like. WhatsApp Facebook they can also use. payment system similar way just click. view buttons and you are ready to accept. digital payment without writing a single. line of code right so that is that is I. think that will help us cover very large. set of you know like SME businesses who.

are not the tech saving who don't have. to be tech savvy right I mean why we. like I have to be tech savvy they don't. need to have a website right we have all. the solution that they can use and and. continue with the business growth right. so they can an example right suppose you. are a. you are someone who's organized backpack. or hiking activities a lot right you. already have your customer base yeah. right so today you use the Google lock. form accept details of your customers. because that's like no code yeah but to. accept payment I think you'll have to. integrate a PG and all that's a lot of. hassle so what if you can get a form.

which accepts details from your. customers and also let them make a. payment yeah right and that is where. things like payment forms are very. useful. right you can customize it these are the. input Fields I need like I need your. pickup date I need your pickup location. multiple information this is a payment. field let's add your payment and then. the things are much sorted so a lot of. these guys don't have to think about. creating a website right they don't want. to create an app just for the sake of. simpler use case because 90 their work. is being done already without using any. website yeah right there are already. materials they can use it but just for.

the sake of payment why do they have to. create a website for it so there are a. lot of solutions for all kind of. businesses even if you don't have. website you can just start doing all. these things you can use payment form. and this is very useful for many. businesses if you're a school and have. to accept fee payment just use payment. form and there's a lot of automation you. can do just out of it if you're a. organizing events right if sunburn is. happening right just create a payment. form let people share the details you. can customize it they'll make a payment. then and there yeah like small Club. Geeks happening exactly exactly so.

people don't have to be discouraged. about using online payments just because. they're not technically right I mean. there are a lot of low code Solutions. exist with us and every business I think. can take advantage of it it doesn't have. to be online business you spend a lot of. time actually understanding businesses. you've seen you've read a lot of books. right why do you feel like why India is. a country of small businesses while not. many small businesses have been able to. become large businesses apart from the.

fact that the infrastructure is not. there what do you feel like with the. mindset problem is there so what's the. perspective India the country is very. diverse right in the behavior language. like even a lot of like consumerism is. very different a lot of other countries. are very homogeneous right what I need. and what I like will be you know liked. by 10 000 more people yeah so dinner. it's very different very diverse right. and and given that we have so many. languages and languages you know tell. you how many cultures are there right. yeah and that's why there's always a.

scope of new business to tailor to a. very specific set of people right who. can relate to your brand who can relate. to your product more and more and given. it's a large cut you always find big. pockets. and to build a large business you have. to start you know like building generate. things and that's something we also. understand very early right a lot of. things that we have built are very. modular right something you can take it. up combine three four models customize. for a specific use case but because once. I start doing the end customization I'm. limiting my market right and that is.

something we have seen in our ecosystem. right people who do extreme. customization right I mean you can. always have very few customer using it. but you cannot Target large customers. and that's the idea of building a. platform is appealing to build a large. business yeah if you're a platform if. your things are generic that different. kind of businesses can make use of it. then you will become successful true the. moment you tolerate for a very specific. industry say I build my product as a. payments company very special e-commerce. then I cannot have education insurance. and other companies working with you. right because their needs may not be.

fulfilled in a very right way because I. already have added a lot of layer on my. product right either I remove those. layers and then then I won't be able to. serve e-commerce also very good and then. it becomes difficult for business to be. flexible Beyond a point right if you do. too much of customization one thing same. time you have to. again it goes both ways right I mean if. you're not customizing but you have to. give them the power to personalize it. yeah it shouldn't be very hard for them. to use it the way they want to use it. right so and that's why technology can. help you you know really build this kind.

of things which are more generic and. helping people build on top of it the. way they want rather than forcing them. to use it in the way you want yeah yeah. what do you feel where's the next big. opportunity for India which is which. industry you feel is going to be like. whoever is watching this can build like. the next unicorn like is it going to be. fintech attack hell Tech what industry. and why do you feel so see it's not. about the industry right if you look at. fintech Health Tech right I mean these. industries had been around long but. these industries are changing the way.

they operate okay so a lot of Industries. today have a very centralized decision. making. right suppose I'm running a some kind of. service company which is like one lakh. you know service provider so today is. entity is making decision on behalf of. them. right I don't have a method to get a. consensus I don't know whether I should. change my commission but 20 to 30. percent what will be the impact. so a lot of these industries are going. to be you know revamped and decision. making will be distributed yeah right be.

it any kind of any industry I'm not I'm. being very generic and that's how the. next set of businesses will appear up. right rather than having one entity make. a decision for everyone right I mean. there will be all these stakeholders can. participate. right they can make decision this is. around what web3 is going toward. like how can you integrate more. Industries together and consolidatedly. take a decision which will be better for. your consumer in order to be make it big. not like that not like that suppose you. are running your business right example. of put delivery company right here one.

like a stakeholder helping you serve. your customers now today as a food. delivery coming I'm deciding a lot of. things for those delivery stuff but. tomorrow one like delivery staff can. decide a conception they can vote and. they can decide this is right for us. right and they'll have all the data in. power to take such decision. right so this will be the new form. business is going to appear like. entities are starting we'll have a. lesser say and people are participating. will have more say so you feel the when. the power of like.

wherever people have power because of. consolidation whoever tries to break. there and make it democratize exactly. that is and that is something we'll see. in the media industry much more earlier. yeah yeah and slowly it will go to. Commerce industry at some point so if. you have to think 10 years from future. it will be very normal think of. democratizing and Industry which is. Consolidated exactly because that's what. people are liking they want things to be. more personalized they want to have. control of their like you know be data. BP to everything they don't want.

surprises yeah and they get surprised if. other people make addition on their. behalf and that's a change in consumer. Behavior or behavior of any you know. like oh that's fair that's that's a. great insight to think about. [Music].

thank you thank you.