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 amongst the many participants is Rupay Bacho, 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 it permit employees to acquire a loan from employer without the burden of any interest.
The pragmatic shift to digital payments in 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/amount to the employee’s account which also helps the company in maintaining 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 the 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 growth of e-commerce both have been significantly aided by smooth trade.