Pay Point India Network, a fast moving consumer services provider of online payment solutions, is entering the Gujarat market after securing a mandate from India's largest bank, State Bank of India (SBI) to furthering financial inclusion. The areas covered under the agreement between the two sides are Ahmedabad, Botad, Kheda, Surendranagar and Bharuch.
The company plans to achieve a target of five lakh customers by end of the financial year. Pay Point through its retail network christened as customer service points (CSPs) will enable the SBI kiosk. In Gujarat, Pay Point is looking forward to enrol 500+ CSPs at the centres mentioned above.
SBI has mandated Pay Point India to enroll customers for three social security schemes- Pradhan Mantri Jan Dhan Yojna, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojna.
A CSP will benefit through an additional source of income with little or no investment.
''We are working with SBI and experienced considerable success since inception. After Maharashtra, Chhattisgarh and Uttar Pradesh, Gujarat is the latest addition to the states in which we are working together. Based on our experience in these states especially at Dhule in Maharashtra where we set a record for opening the maximum number of accounts for women customers, for SBI we are quite optimistic,'' said Rajesh Mishra, CEO, Pay Point India Network.