New Delhi: The introduction and emergence of various modern technologies have facilitated India’s establishment of a digital ecosystem. The phenomenal growth in India’s ecosystem has been elevated through the participation of online and digital payment modes. One of the many participants is RupayBacho, an online trading platform for registered members and their employees to buy and sell goods and services without involving cash through Rupee Free Token (RFT). RFTs are the modern way of promoting healthy work culture in varied ways as they permit employees to acquire a loan from an employer without the burden of any interest.
The pragmatic shift to digital payments in the form of RFTs has offered various opportunities and possibilities to employers and their employees. The ability to pay through RFTs rather than cheque/cash is simply a much faster way of transferring salaries/amounts to the employee’s account, which also helps the company maintain the fund without involving cash. The fact that RFTs are a cashless payment mode, they are treated as a convenient source of rewarding employees with bonuses and advance salaries. Moreover, as RFTs provide innumerable advantages to employees, it has resulted in boosting employees’ loyalty to the company and vice versa.
Nowadays, cash has been losing ground to digital payments, which are seen as being a more secure method of money transmission. With the help of RFTs, the brand Rupay Bachao has formed a safe and flexible way of trading and allowing all transactions to be electronically recorded above the board. As the mandates issued by government policies in achieving a cashless transaction, the brand also follows the policies by recording the transaction in the books of accounts.
While embracing the digital payments solution, Mr. Amit Gupta, Managing Director- Rupay Bachao, stated that “The growing internet user base and usage of smartphones have raised the need for online payment methods. They provide advantages to consumers while being a safe and secure method for trading. Additionally, RFTs are also taken into account as a payment method for paying employees in advance and rewarding them to spread positivity.”
Ever since its inception, Rupay Bachao has enlisted more than 500 brands and assisted them in effectively expanding their businesses. The brand is focused on eliminating cash from trading activities and providing additional benefits to registered users via RFT mode. The development of the consumer base and the growth of e-commerce have both been significantly aided by smooth trade.
About Rupay Bachao:
Under the flagship Initiative of Startup India, Rupay Bachao was formed in April 2022 under the name KMKD RupayBacho LLP. Rupay Bachao is an online platform for traders and buyers for smooth and seamless business partnerships without involving cash transactions. Businesses from varied industries or services can enrol as members and offer their Goods and Services to other members on this Platform through Rupee Free Token (RFT). The core objective of launching such a platform is to make the trading business cashless and create more benefits for members. For the first time in India, such an application has been designed for B2B business model where the registered members and their employees can buy and sell goods and services without involving cash.
