Meet Amit Kaushik, a young business owner who came to New Delhi from Aligarh, a small town in Uttar Pradesh, and opened his own pharmacy/medical store. His spirit for learning and adapting to change is nothing short of inspirational!
Amit Kaushik has been a businessman for the last fifteen years and has built a sustainable business with a set of loyal customers. Until recently, he ran his business in a traditional manner, relying heavily on cash transactions. However, with his newly opened shop, it became increasingly difficult for Amit, the owner of Maruti Nandan Pharmacy in New Delhi, to handle cash transactions. Covid led to an increase in the demand for digital payment acceptance, as consumers across age groups shifted to cashless payment modes. He wanted a solution that would address the business unpredictability and also ensure that customer experience is not hampered.
Amit found freedom from a cash-heavy transaction model by adopting India’s first interoperable UPI QR code by BharatPe and BharatPe Swipe, BharatPe’s POS machine, to provide the option of digital payments acceptance in his store. Although there are similar offerings in the market, he chose BharatPe because the products were easy to use and did not involve additional charges on transactions. By using BharatPe’s UPI QR, Amit was able to ensure ease of payments and maintain safety protocols during the times of the pandemic. Also, he could ensure that his business wasn’t impacted during lockdowns (when consumers were wary of stepping out of their homes), as he could facilitate home delivery and provide QR payment option to customers. Moreover, all the earnings he made in a day were directly transferred to his account which eliminated his daily travels to the bank to deposit cash. Additionally, with QR and card payments, Amit is able to maintain a record of all the transactions done, unlike that in the case of cash payments. Amit also took a loan via BharatPe several times, to expand his business. The process has been simple and 100% digital and the approval process is quick as the loan money hits Amit’s account in 3-4 days.
He accepts both cash and digital payments, and now is a tension-free shop owner who doesn’t have to worry about maintaining his sales records. When it comes to loans to fund his purchases for the pharmacy, he relies on BharatPe’s speedy and completely digital process. Earlier, he had to complete all the required documentation for loan application by physically going to the bank and waiting for months on end for the loan to be sanctioned.
But now, Amit doesn’t have to worry about any of these steps with BharatPe. Also, BharatPe took away the daily hassle of taking cash to the bank, as his daily earnings are credited to his account by midnight every day. He is glad to have made the transition in payment accepting habits as Amit now has more time to spend with his family. He plans to scale his business further and also has plans to shift to a completely digital business one day!
Listen to Amit Kaushik tell his story of transforming his business by shifting to digital payments.