Prime Minister Narendra Modi led government, enabled auto-rickshaw based hyper-local startup, Jugnoo to launch its UPI enabled payment solution, ‘Jugnoo Pay’ by solving their issues within 48 hours of a tweet to PM.
Aligning itself to the Government of India’s vision of making India a cashless economy, Jugnoo had been working towards the launch of a UPI enabled payment solution since past few months but the brand had been facing certain technical issues in terms of SDK. However, Jugnoo managed to get immediate government support through the social networking and microblogging site, Twitter. Samar Singla, Founder and CEO, Jugnoo tweeted to Prime Minister Narendra Modi about their problem and validating the government’s stance towards the startup ecosystem, the issue was resolved within 48 hours of the tweet.
— Samar Singla (@samarsingla) November 27, 2016
Giving a better perspective on ‘Jugnoo Pay’, it is a UPI enabled payment solution that allows merchants to request and consumers to approve payments directly using their respective bank accounts with their mobile number as an identifier.
Adding to the insights, following the launch announcement of Unified Payments Interface (UPI) application by National Payments Corporation of India (NPCI) towards the end of November this year, there were 30 banks offering the UPI app on Google play store. Not only were these banks conferred with the authority to offer the payment service to its customers but were also given the control to further proliferate the technology to other merchants. Thus betting big on payment solutions and aiding the vision of cashless economy, Jugnoo collaborated with YES Bank to enhance the reach of UPI based payment solutions. Therefore, Jugnoo Pay works with all the NPCI approved 30 banks across the country at present.
Adding his bit to the whole scheme of things, Ronak Goyal, VP Engineering, Jugnoo commented, “UPI enabled Jugnoo Pay is the latest offering from Jugnoo to our customers. Factoring in the array of drawbacks in e-wallets, UPI is the next big thing and digital wallets will eventually become obsolete. So, we have enabled customers with a new and more hassle free payment option. Furthermore, the current government’s proactivity towards fulfilling its vision is commendable. Our collaboration with YES bank not only gave us access to the UPI software kit, but also to the NPCI’s tech library that immensely helped us create Jugnoo Pay. In this new era of governance, where the government has made itself so easily accessible to the public, I believe the nation should come together to make the most of technology and collectively take India to new heights.”
The recent move of demonetizing 500 and 1000 currency notes, made it absolutely clear of what the government intends. Tiding on these trends, while Jugnoo had already announced that it will introduce UPI to its app in the September 2016, however, after demonetization, the brand nailed it with the launch of Jugnoo Pay.
Post the announcement of ‘Startup India Campaign’ the entire entrepreneur’s fraternity stood in unanimity to support the mission not only in words but through various innovative startups. These startups not only make life easier for public, but are also enhancing the economy of the country. Treading on these line-of-thoughts, Jugnoo Pay offers hassle free money transaction directly through a user’s bank to their friend’s bank account via UPI.
“While existing Jugnoo customers can directly login and use this service, new customers need to sign up on Jugnoo platform to use the service. In next iteration, Jugnoo Pay will be integrated as a payment option in Jugnoo app so that users can pay their ride amount, groceries and meals directly from their bank accounts. Furthermore, it will soon be open for other e-commerce and businesses as payment solution. Jugnoo is also working on offline solution to ensure financial inclusion for all.” Ronak added.
Jugnoo Pay mobile application is available on Google Play store for Android users and will be soon available on Apple App store for Apple users.