New Delhi [India], July 26 (ANI/NewsVoir): In times when digitization is disrupting the conventional methodology of most industries globally, the MSME retail sector in India remains no exception.
The Indian retail market is one of the fastest growing markets in the world, estimated at USD 600 billion - out of which almost 90 per cent are MSMEs and SMB retailers.
SignCatch and Worldline India have partnered to bring together the Merchant Digitization Program (MDP), to enable digital retailing for small retail stores, brands and wholesalers across India. With Bech (Bech.App), SignCatch and Worldline India have envisioned to empower SMBs across key cities in India and multiple retail categories such as Electronics, Mobile, Hardware, Pharmacies, Fashion, Grocery, Cafes and Restaurants.
This exciting partnership allows Worldline India to leverage the process to payments capability of SignCatch's new Bech platform, which has been specifically built to enable digital commerce between local brands, wholesalers and retail stores in any given region.
Bech app is thoughtfully designed to provide all the digital value-added services required by a small business owner on a single mobile app, like - Digital Payments, Supply Chain Credit, Last Mile Delivery, Free Online Catalog Builder, B2B Purchasing Platform, Social Media Selling, Marketing, Billing, GST Ready Reports along with Staff Management features. In addition, merchants can also access Instant Credit, Business Loans on the Payment acceptance PoS Terminals powered by Worldline India and many more similar services being added on the go as per the requirements of running a small retail business, on this Super App. The Bech platform currently caters to more than 50k MSMEs across India, who are leveraging the omni-channel capabilities of the app.
"In this time of rapid digital evolution, Worldline India and SignCatch are pleased to empower the Micro and SME segment of brands and retailers through a new age integrated technology solution. Unique insights provided by 360-degree business transactions on the Bech platform supports Worldline India to offer more customized digital payment products and services to the MSMEs. We would initially be launching the solution in selected cities, however, given the massive scale and opportunity in this space, we shall soon be expanding this offering pan India,'' said Vishal Maru, Executive Vice President - Financial Institutions and Merchant Services, Worldline India.
Speaking on the partnership, Sumit Duggal the Founder and CEO of SignCatch, said, "Despite the emergence of large B2B eCommerce aggregators, 85-90 per cent of the wholesale supplies are primarily managed by local brands, wholesalers and stockists. SignCatch has launched its Bech platform specifically to cater to this large market opportunity and democratize digital retail. The Bech App enables a zero tech small brand, wholesaler or retailer to acquire the omnichannel tech capabilities of organized retail simply through their smartphones." He further added that SignCatch is also integrating with the ONDC (Open Network for Digital Commerce) stack, which would open up a multitude of new sales channels for small brands, wholesalers and retailers on Bech.
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