The company has currently released an Android App & iOS iteration is on its way that will allow consumers to easily pay for products that are typically door delivered & more often than not, leave the collector flummoxed about the payment.
What does Eashmart do?
For products like Pizzas or others consumables delivered, consumers are often left wondering how to pay for the merchandise when they run out of cash. Though there are multiple companies that offer pre-payment to ensure a cashless transaction, the phone based ordering is still left with Cash on Delivery (COD), explained the Founder,
“Since we were in a remote area, even the nearest ATM machine was 2 Kms away. We found ourselves borrowing money from friends too often. Sometimes even from security guards in our campus. A lot of my batch mates would ask the delivery guy why they can’t bring a card swiping machine.”
It is this problem that the delivery person cannot carry the typical Card Swiping Machine, which Amit Kumar has attempted to solve.
But doesn’t mSwipe or Square offer a solution?
Companies like mSwipe, Square & a few others offer a simple POS Card Swiping Machine that can be fitted on an ordinary smartphone which turns the device into a portable payment processing machine.
However, these companies still rely on a swiper, while Amit’s innovation does away with the need to interact with any hardware based machine. Eashmart is essentially a payment option that one has to select while making the purchase. The app will generate a notification & once the delivery of the merchandise has reached, the notification offers a pre-generated 4 Digit PIN that essentially authenticates the purchaser to the delivery person.
The app allows payment via credit/debit card the details of which, can be saved in the app, if the consumer wishes to save time. The company securely blocks access to the app in case the phone is lost or stolen. Presently active in Delhi, Bangalore and Jaipur, there are plans to expand soon and while customers are not charged for using this service, merchants have a percentage based cost factor involved.
Virtual Payments as well as Mobile based payments are nothing new and multiple companies, including many banks and telecom companies have launched their own iterations. Under such heavy competition, only the users will decide if the company survives. What do you think?
Image Source | www.eashmart.com