By integrating different modes of payment such as Bharat QR, mPOS, UPI, Link Based payments and cash, the new app will be tremendously beneficial for India's informal or unorganized sector which accounts for nearly 50 percent of the country's GDP. By offering seamless payment services, mGalla will also help merchants to align themselves with GST.
Aimed at building a retail ecosystem, which will ultimately replace the physical galla with mGalla, Atom sees tremendous growth potential from the Tier II and Tier III cities. The company has also set out on a target base of 10,00,000 merchants. Atom also aims to integrate Aadhar based payment to the app in its next release which will further augment ease of payments.
Offering a host of services, the application will be a one-stop-solution for efficient management of transactions and accounts of retailers. With a very small application footprint, the application does not require high speed Internet for operation and is available currently on android platforms.
"Demonetization led to a spurt in disaggregated digital payment methods and services leaving the businesses the complexity to grapple with these modes and their reconciliation, mGalla addresses this core issue and provides an integrated payment collection offering for merchants with very easy to use options," said CEO Atom Technologies, Dewang Neralla.
"It will also be immensely beneficial for the informal retail sector as it efficiently manages their day to day transactions. This will be particularly useful in the wake of the launch of GST," added Neralla. (ANI)