In a period of increasing trend of digital payments, Bajaj Finance has announced the launch of Bajaj Pay to compete with Paytm and Google Pay. Bajaj Finance informed the stock exchange that by the end of the current financial year i.e. by March 2021, it will launch digital payment app Bajaj Pay. Through this app, users will get payment facility through UPI, PPI, EMI card and credit card. The company has said that in addition to the users, it will also develop an app for businessmen on Bajaj.
Apart from this, Bajaj Finance is going to bring 5 proprietary marketplace EMI stores, insurance marketplaces, investment marketplaces, BF Health and broking apps for its group companies. The company has also talked about partnering with 25 other app ecosystems to provide all the services and products the customers need. With this, customers will also be connected to the company’s core business.
In addition to the digital payment app Bajaj App, Bajaj Finance is developing 4 productivity apps to transform its business. The company claims that through the Sales One app, merchant app, collections app and partner app, the work efficiency of the employees will be increased. Apart from this, by May 2021, the efficiency of channel partners and merchant ecosystem will also be increased through these applications.
