PayNearby launches a university to educate and handhold its retailers

By Leandra Monteiro

PayNearby, an Indian branchless banking and digital payments network, has launched “PayNearby University” under its trade app to educate and handhold its retail partners towards a better livelihood and a sustainable life for themselves and their families.

Available in 10 regional languages for an engaging learning experience, PayNearby University is designed to empower retailers by utilizing the full potential of the platform and help create a thriving ecosystem for the retail community.

PayNearby was built to educate, engage and push a wide range of assisted financial and digital services including basic banking services like cash withdrawal, domestic remittance, goal-based savings and insurance to the last mile.

According to the FinTech, today, more than 1.5 million retailers use the PayNearby platform to service close to 150 million Indians on a wide range of products and services. The success of the model lies not only in the 1 million transactions that it clocks daily but in the social reach of the platform across 17,500+ PIN codes in the country, helping uplift both the retail community and consumers in those areas, thereby helping access to the Government’s DBT disbursements in an easy manner.

The company’s constant commitment has been to empower local retailers who are building the nation ground-up while driving financial inclusion at the last mile, thus creating a digitally forward and financially inclusive India.

Reiterating this commitment is PayNearby University, where retailers can acquire knowledge about the financial product and services the company offers, learn how to use these services, and how to efficiently utilize the platform to earn more. PayNearby University ensures that retailers can upskill themselves and are able to deliver financial products to their customers. It also trains retailers on the best practices in investments and how to manage their finances better. PayNearby University enables bite-sized learning videos which are easy to consume along with financial and insurance consultation and career guidance, in turn, creating more aware, engaged and empowered retailers.

Commenting on the development, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby said, “Retailers are the very core of a business ecosystem and it is important for them to have all the necessary knowledge and skills to make their work easy and enhance customer engagement. As an organization, PayNearby recognizes the mutual relationship that it has with the retailer community and we want to take all possible steps to ensure the sustainable livelihood of the retailers. An important milestone in this direction is PayNearby University. PayNearby University was created with the vision to empower and upskill our retailers not just in trade skills but life skills as well and help them become financially independent and aware Digital Pradhans.

For India to thrive and grow, it is important that the retail community is given the essential support and tools to stay relevant in the fast-evolving economy. We are confident that this free-of-cost module which retailers can consume at their convenience in their own language will be a game-changer and in the long run, will help retailers across the country bridge the digital divide that exists in India. We are extremely delighted that PayNearby University is in sync with our Zidd Aage Badhne Ki.”