Beatroute anounces cashless trade solution for neighbourhood Retail stores

by November 18, 2016 1 comment

In the current scenario where demonetisation has effected consumers and businesses across the country, digital payment has dominantly emerged as the only solution.

Every industry is turning the digital way to overcome the dearth in their business which is majorly cashed. The last mile trade sector comprising of manufacturers, distributors and retailers, that has a market size of 500 billion USD in India, is not left unaffected with this major change.

BeatRoute, understanding the pain point of its customers and business partners, is launching a cashless trade feature for thousands of neighbourhood retail stores starting Dec 1’2016. Using this feature retailers will be able to pay for their purchases from distributors of consumer packaged goods companies. It is this last mile trade that has traditionally remained primarily a cash transaction. Distributors suffer in this cash logistics where they have to collect cash from retailers but always have to pay manufacture through their bank account.

Cashless trade is an enablement that helps everyone in the chain. It also enhances credit worthiness of small kirana stores which have been left out of the benefits of credit lending. One of the fall outs of Government’s demonetization decision has been lack of cash to facilitate trade. For a relatively small fixed fee per transaction, BeatRoute aims to ease this situation.

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  1. Ashwinikumar
    #1 Ashwinikumar 22 November, 2016, 15:06

    So, apart from paying income tax on my income and paying sales tax for the goods purchased using that income, I have to pay a fee + servicetax on that fee. What a great idea to increase the governament”s income by collecting income tax + sales tax + service tax from the end customer! Just like the nexus of interest + compound interest collected by private money lenders.

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