I could not stop myself from writing this; hence, here is the post. This is important because of its relations to demonetization.
For any dairy shop (who delivers milk to all households plus over the counter sales), the most important customers are those whom they deliver pre determined milk at customers' houses. They are bulk customers and they also order other essentials like bread, ghee, paneer, curd, sweets, cold drinks etc but it happens seldom. However the payments come in a lag of 1 month. These book sales are over and above the counter sales where customers buy dairy items as per daily needs.
After demonetization, I advised my dairy person to go digital, either go for paytm or swipe machines. Also I made him understand how his sales would increase and how customers would also be happy as they get debit/credit card loyalty points which are encashable.
Today when I went to pay the last month bill, I carried a cheque with myself and was pre-determined that I won't pay cash. I asked him how he will take the payment and asked if he would prefer taking a cheque which he agreed. It was a surprise for me as he got opened a new current account in next door bank, #corporationbank. When he said that he got a swipe machine too, I was thrilled. He got the mini swipe machine (GPRS enabled POS without print options, size of man's purse) by #corporationbank . I asked in detail about the cost and he said the bank would charge of Rs 600-700 per month with a facility of minimum Rs 100 transaction.
Then definitely my next question was, "did sales increase". His answer was a big "YES". It went up by 15-20% within a week. Now understand how it increased. We all agree that to a certain extent we have become tech savvy and prefer to pay through card. All his customers started ordering his other items like bread, curd, cold drinks, ghee and other dairy items over the phone, mind it earlier the same customers including me used to buy from their respective nearby shops and used to pay in cash. Overall the average monthly bill of all "over the home" customers will increase. Banking transactions will go up.
Now why I am writing this post? Many of my friends and known accomplices have been complaining tooth and nail about the difficulties Indians are facing even if he/she are not facing any problem post demonetization. Yes the govt should have been better prepared but don't forget it's a bold step which will have positive impact in longer term. And there would be lakhs of similar story throughout India, crores of additional banking transactions and lakhs of additional income tax payees which will enable the government to reduce the tax rates in future.
I am happy to see these changes in my lifetime and am contributing in whatever way I could by giving the right advise and enablers. Let us all come together and build a new nation.
#digitalpayment #demonetization #deshbadalrahahai #yourcontribution
For any dairy shop (who delivers milk to all households plus over the counter sales), the most important customers are those whom they deliver pre determined milk at customers' houses. They are bulk customers and they also order other essentials like bread, ghee, paneer, curd, sweets, cold drinks etc but it happens seldom. However the payments come in a lag of 1 month. These book sales are over and above the counter sales where customers buy dairy items as per daily needs.
After demonetization, I advised my dairy person to go digital, either go for paytm or swipe machines. Also I made him understand how his sales would increase and how customers would also be happy as they get debit/credit card loyalty points which are encashable.
Today when I went to pay the last month bill, I carried a cheque with myself and was pre-determined that I won't pay cash. I asked him how he will take the payment and asked if he would prefer taking a cheque which he agreed. It was a surprise for me as he got opened a new current account in next door bank, #corporationbank. When he said that he got a swipe machine too, I was thrilled. He got the mini swipe machine (GPRS enabled POS without print options, size of man's purse) by #corporationbank . I asked in detail about the cost and he said the bank would charge of Rs 600-700 per month with a facility of minimum Rs 100 transaction.
Then definitely my next question was, "did sales increase". His answer was a big "YES". It went up by 15-20% within a week. Now understand how it increased. We all agree that to a certain extent we have become tech savvy and prefer to pay through card. All his customers started ordering his other items like bread, curd, cold drinks, ghee and other dairy items over the phone, mind it earlier the same customers including me used to buy from their respective nearby shops and used to pay in cash. Overall the average monthly bill of all "over the home" customers will increase. Banking transactions will go up.
Now why I am writing this post? Many of my friends and known accomplices have been complaining tooth and nail about the difficulties Indians are facing even if he/she are not facing any problem post demonetization. Yes the govt should have been better prepared but don't forget it's a bold step which will have positive impact in longer term. And there would be lakhs of similar story throughout India, crores of additional banking transactions and lakhs of additional income tax payees which will enable the government to reduce the tax rates in future.
I am happy to see these changes in my lifetime and am contributing in whatever way I could by giving the right advise and enablers. Let us all come together and build a new nation.
#digitalpayment #demonetization #deshbadalrahahai #yourcontribution
