A startup called Serv'd has come up with an offline wallet solution that allows one to make payments digitally even to those who don't have a smart phone or Internet connection.
E-wallets are thriving in the post-demonetisation days. While one cannot deny the convenience, a majority of the population is unable to use e-wallets because they don’t have smart phones and data packs.
To tackle this issue, a startup called Serv’d has come up with an offline wallet solution that allows one to make payments digitally even to those who don’t have a smartphone or Internet connection.
Image for representation only. Source: (left) by ILRI, via Flickr. by Erik (HASH) Hersman, via Flickr
The offline wallet will benefit vendors, small retail shops owners, and day-to-day service providers like vegetable sellers, maids, and milkmen. The Serv’d app acts as a platform that brings together contractual service providers like maids, cooks, drivers, and nannies and the consumers of these services.
“In India, a lot of working people face problem in managing finances for the service providers like maid, milkman and more. And especially in times like this when there is a cash crunch, a startup like ours can fill in a lot of gaps. We are not just creating a payment system, we are creating an ecosystem where the service provider can act like a freelancer,” Jatin Agarwal, co-founder and CEO of Serv’d, told The Huffington Post.
How does it work?
After downloading the app, users just need to register the people they wish to make payments to by entering their names, phone numbers and Aadhar details.
Once the registration process is complete, an SMS is sent to the registered number. The app even draws a contract mentioning monthly salary, bonus, gifts, leaves etc. After the contract is finalised, an executive from Serv’d gets in touch with the registered person and help him or her understand the process and link the bank account to the app.
The app will then allow the user to transfer money directly to the person’s bank account.