Imagine the ways of transactions you do on a regular day. You pay the vegetable vendor using cash. The wallet provided in the application funds the cab ride you took. A debit card or net banking is used to book movie tickets or carry out other tasks. Well, isn’t it a complicated procedure? Monitoring the count of cash, remembering the password of net-banking, safeguarding your ATM pin makes your life difficult. That’s where Simpl, a Bengaluru based firm founded by Chaitra Chidanand and Nityanand Sharma comes in to simplify your life amidst all these chaos of financial transactions.
Simpl is an innovative product that brings up the “Buy-Now, Pay-Later” model. The beauty is the purchase can be made via one click. Be it the movie ticket or the food order, all you have to do is click once. The bill of all the transactions is generated at once after a 20-day cycle. It is like an extra credit card which can be availed by anyone. Usually, specific terms and conditions are required to get a credit card; there are no such constraints with Simpl.
Simpl makes financial transactions incredibly painless and transparent. We all have dealt with situations where our transaction fails, and we are supposed to repeat the process. With Simpl, there is no threat of transaction failures.
At times, we run out of money and are broke. With Simpl, we need not bother about our financial crisis.
We are not comfortable with sharing our bank account information to the websites. With Simpl, there is no need to share your sensitive bank account details. This reduces the chances of fraud to a great extent.
The worst part is waiting for the refund money when you cancel a particular order. “Processing refund” status irritates the customers. With Simpl, the payment is not made from your end. Since you have not paid so there lies no anxiety for the refund of money.
Simpl has classified its customer base into four categories. The customers who pay their rent on time come under the category of “Diligent Deva.” One who uses the services and disappears come under the “Freelance Freddy” category. “Broken Babu” is the category of customers who make the payment very late and thereby incur a late fee. The last is “Lazy Lakshman,” where the customer keeps on postponing the payments. Quiet a humorous way to address the customers.
Plans: Chaitra, the founder of Simpl, believes that this innovation can be taken to the rest of the world. It makes no sense for the merchants to pay two or three per cent to Visa Mastercard to process the transactions. She says, “We did not reinvent anything, rather derived inspiration from the Khaata System that existed in the country forever.”
We look forward to many such innovations in the field of digital payments. The team of Simpl has helped extensively to make our transactions simple with their simple idea. If you have an idea by which you can simplify someone’s life then do share your views with us on Bots ‘N Brains and be the change you want to get!