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Tuesday, June 28, 2011

Paymate & Mahaventures launches India’s first mobile cashless purchase service for fleet operators

One of the biggest problems of fleet operators/transporters is security of cash being carried by fleet drivers for making necessary purchases like fuel, tyres, paying service bills etc. Presently prevalent card based swiping system too are not effective as the swiping terminals are not widely available especially in remote areas. Paymate, India’s leading mobile payments company, in association with India’s leading fleet management solution provider, Mahaventures , has launched mobile based Cashless Purchase Management Service for fleet operators to address this problem.

Named as “WAYPAY ” this is India’s first mobile , Cashless Purchase Management Service.This innovative system is specifically designed to help fleet operator across the country manage all in-route expenses from nominated retail outlets, without cash.

WAYPAY PMS (Purchase Management Solution) eliminates the need for cash carrying, thus increasing the level of security felt by fleet drivers. The elimination of cash also makes it easier to prevent fraudulent transactions. It’s convenient and comprehensive reporting enables fleet owners & managers to receive real time reports and set purchase controls online.

WAYPAY PMS offers a simple and secure way of making and monitoring purchases. Transporters need to register their vehicles & drivers mobile number with WAYPAY, each driver’s mobile number will be registered against each vehicle number. A Login ID & Password will be provided on successful registration. The transporter would then need to set purchase limits and load required funds to a prepaid account by RTGS/Net Banking/Cheque. Once that has been done, the drivers need to call WAYPAY IVR from his registered number for the purchase amount and punch his PIN for the transaction. Drivers can ask WAYPAY dealers to make purchase requests on WAYPAY IVR. The dealer needs to punch the driver’s number and amount on WAYPAY IVR. On confirmation the driver will receive the Fuel (or any other item purchased) from the Dealer and the money will be transferred from the Transporters WAYPAY account to the Dealers account. This system is not only applicable for fuel, but can be used for purchase of Tires, Batteries, Service Centre Bills, etc

Benefits of the Service:

  • works on all handsets
  • No GPRS or Smartphone required
  • No Need to carry any cash, card or any voucher
  • No Need to maintain purchase records
  • No threat of loss, damage or misuse while handling
  • Decrease in time needed to settle the expenditure account
  • 24/7 helpline support

The current products offered to fleet operators are smart card based and need a swiping terminal at the outlet location. These terminals are usually in poor working condition due to maintenance issues caused by the inaccessibility and remote highway locations of these outlets. The WAYPAY system does not require any wired connectivity or special instruments such as POS terminals hence eliminating system maintenance and accessibility issues completely.

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