Mumbai, India, December 7, 2016 – By Jagrut Bhanushali (GPN)– In a world where going cashless is the new mantra, amajority of the working class find the idea of online payments a horse of another color. For years together, a local vegetable vendor or any small business owner has always believed in cash dealings: also because of many failed examples of alternate methods.
With their back against the wall due to demonetization, ‘PayTonic’ from Frictionfree Payment Solutions Pvt. Ltd. is here with a promise of enabling the lowest rung vendors to accept electronic payments- even without a smartphone. Powered by Yes Bank, PayTonic aspires to be the solution a small vendor so craves. So how do they do this in a world of endless payment apps? PayTonicCEO, Maccarimanswers, “PayTonic is an open payment network which allows payment to any mobile number in India. While the sender needs the PayTonic app to pay, the receiver has no such compulsion. Whether the receiver has a smartphone or a particular app is irrelevant with PayTonic. We have created an SMS based 1 minute registration process which is simple for even a feature phone holder. All they need is an active mobile number and a bank account.”
PayTonic is not a wallet. There is no money to be loaded in PayTonic. PayTonic enables transfers using credit cards, debit cards, net banking, mobile wallets & UPI straight to the receiver’s bank account. This helps ease security related anxiety as money is always in the bank and not in a 3rd party wallet. PayTonic is currently being adopted by anyone & everyone – roadside vendors, retailers, milkmen, newspaper vendors, cable operators, house maids, drivers, a host of freelancers etc.
A PayTonic user-Milk distributor NitinMohite shares his experience, “Managing my collection boys was very tiring. Sending boys again and again, house to house, to collect payments was very time consuming. PayTonic has helped me save on collection costs especially because customers find using the app very simple.” Another PayTonic user, cable operator, Akhtar says, “PayTonic is simple unlike other services where I have to transfer money from wallets to my bank account again. With PayTonic, all payments get credited to my bank account directly. I get SMS alerts and I don’t even need an app!”
Mukesh Patel of Jaycees Convent,in the village of Bhandara, recently started accepting school fees using PayTonic. He says,”I was looking for a service which would let parents pay fees remotely. PayTonic fits the bill well and makes managing payments easy.”
Apart from facilitating Person to Business transactions, PayTonic is also an uncomplicated choice when it comes to Peer to Peer transfers.