Monday, November 21, 2016

Indian economy going digital, shouldn't your Business too?

With the advent of demonetization of currency notes, a lot of things are undergoing a change in Indian economy. Streetside vendors accepting online payments, people preferring card payments instead of cash. Cashless payment is no longer a luxury,  it's becoming a necessity. Here few things are changing, the behavior of the consumer, the govt policy overpayments / digital transaction, the way banking system used by the common man. There are plenty of reasons why  NOW is the right time for businesses to embrace digital technologies. Following are the main points why it should be done now.
  • Customer Authentication can be done remotely now
  • If you don't do it, your competition will do it and run away with that market
  • Youth is already digital, once they start earning they are your customers. Catch them young.
  • More people will start preferring everything online
  • The Internet is getting so cheap (Jio effect) everyone is getting on it
  • Future govt policies on this line lead to much bigger business digitally
  • Save money when more and more of your customers are online (Less staff, less showroom space needed to support it)
  • 95% adult population in India covered under Aadhaar as of now. Newborn babies are given Aadhaar numbers in the first week of birth itself

Reliance Jio has proved, that paperless customer experience can be done using Aadhaaar eKYC and ESign and the common man had already got the feel of it. (Getting onboard in under 3 minutes time)
So next time when your business asks the customer to bring passport size photo and copies of address proof, id proof they will think, why the process is so complicated with your business. Now the benchmark has been set higher. The only option is to raise yours too.  

We, Finahub, are experts in Aadhaar related products and services like ESign, Ekyc, Authentication etc. If you want to know how your enterprise can start using it, please give us a call  @ 0484 2388285 or email us at [email protected]