Amid slowing economic activity, COVID-19 has led to a surge in few sectors like e-commerce which accelerated digital transformation. In the future, if we will look back at 2020 it is considered to be as the period that changed everything. Nowhere else has unprecedented and unforeseen growth occurred as in the digital and e-commerce sectors, which have boomed hurriedly amid the COVID-19 crisis. The Indian government launched the Digital India initiative with the goal of transforming India into a digitally empowered nation with improved online infrastructure. Aligning with this thought, the brand Rupay Bachao came into existence under the company name KMKD Rupay Bacho LLP. Rupay Bachao is an app based online platform for shopkeepers, businesses their directors, employers, vendors, agents etc to do smooth and seamless business partnerships without involving cash transactions. The platform helps the consumers to make a deal in more safe and secure way.
The cashless transaction is quickly becoming the preferred option, and there are numerous advantages associated with it. Rupay Bachao platform allows trading activities between shopkeepers and businessman to trade their goods and services in exchange of RFTs (Rupee Free Token). Any registered member can use RFTs to buy or use other services without involving cash transaction. For the first time in India, such 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.
Growing since its inception in April 2022, the platform has now remarkably enrolled more than 500 brands which includes Real Estate, Tourism and Travel Industry, Hospitality Sector, Advertising & Marketing, Interior & Décor, Food & Groceries, Construction Business etc.
At Rupay Bachao, all the transactions are digitally recorded and that’s the reason it is considered to be one of the most secured and safe apps. Each and every transaction that happens between the members will be recorded in the books of account. Further, Rupay Bachao has a transparent data sharing policy with Indian Government/ taxation authorities. Thus, every sale that takes place on the platform is treated as income of the individual member and every purchase as his/her expenses under appropriate heads.
On the launch, Mr Amit Gupta, MD, Rupay Bachao stated, “Digital India is the new India! Govt has formed this vision to transform India into a digitally empowered society and knowledge economy. To meet this objective, we created Rupay Bachao to make the businesses more efficient. Our platform promotes digital payments through cashless transactions in align with Government’s Digital India policy. In this digital era, we have thoughtfully created a fully secure and flexible way to allow members to increase their sales through applications and at the same time save the cash outflow by sourcing their requirements from the members on the platform.”