How Taskmo Helped A Popular Payment Aggregator And Ramped Up Their Vendor Onboarding Process
In today’s digital world and rapid increase in technology, it’s safe to say that customer needs are expanding too. Every customer today wants to shop instantly and get their products and services done within a short span of time. In order to fulfil these rising needs, several payment aggregators captured the market and helped to fulfil the needs of customers. While the main purpose of payment aggregators was to facilitate ease in transactions, the payment aggregators themselves had several limitations that barricaded their operations. We are going to look at one such popular payment aggregator that was successfully able to ramp up its operations with Taskmo.
Amazon Pay, one of the world’s largest payment service providers who approached Taskmo for ramping up their vendor onboarding process. Amazon Pay wanted to take advantage of the market and acquire merchants and vendors at a rapid rate to meet rising demands. It was only time for us at Taskmo, to take up the task at hand and fulfil their needs.
Amazon Pay is a payment processing platform owned and operated by Amazon. It was launched in the year 2007 and makes use of the consumer base of Amazon and gives users the option to pay with their already existing Amazon accounts on Amazon as well as other external merchant websites. When Amazon Pay approached Taskmo, the major challenge they faced was penetrating into the market and onboarding the right merchants. Taskmo has worked with several popular brands and provided merchant onboarding services and increased their merchant onboarding process five times faster.
Upon understanding the need, Taskmo laid down strategies and streamlined the merchant onboarding process by appointing digitally trained taskers to acquire merchants (vendors or sellers) through the merchant onboarding process. Before framing the strategy, Taskmo identified key issues and challenges in the merchant onboarding process that helped to set clear targets and expectations. The major issues and challenges include;
Several merchants and vendors who have nano sized businesses, were unaware of the payment gateway services and the benefits it has to offer for merchants.
Once the merchant onboarding process starts, there is a wide time gap between the merchant onboarding process and the time taken for the merchant to be onboarded onto the platform. This contributed to being of the major challenge due to lack of awareness, training and limited manpower.
Another major challenge was to manage, track and check the performance made by the taskers during the merchant onboarding process. It became a huge challenge since everything was done manually without any technological support.
Last but definitely not least, the risk of fake onboardings came into the picture which indeed was a big threat to the merchants involved in the merchant onboarding process as well as Amazon Pay.
After understanding the challenges and listing down the issues, it was time for Taskmo to lay down the solution. Within a matter of just a few days, Taskmo deployed over 300+ Taskers across multiple states of the country. The taskers were hired and digitally trained according to needs and specifications laid down by Amazon Pay. Once the taskers went to the field everyone followed a rigorous approach and executed it according to plan. Looking into the client’s eligibility criteria for the merchant onboarding process, the taskers at Taskmo collected the following documents from every merchant, the documents included;
Proof of Business - It refers to documents such as GST Certificate, Pan Card, License and Certifications or any other documents that stand as a proof for the merchant’s business.
Proof of Individual - It refers to documents such as Aadhar Card, Ration Card and other such documents that support the identity of an individual merchant who is going to be onboarded through the merchant onboarding process done by our taskers.
While the taskers were performing tasks in an efficient manner. Taskmo created a dedicated live dashboard for Amazon Pay to track the progress of the project in real-time. This, in turn, helped our client to scale this program from the requirement of 300 taskers Giggers to 500+ Giggers within 4 to 6 months of active engagement.
On collaborating with Taskmo, Amazon Pay increased its partner network to 15000+ merchants and vendors within a period of 4-6months. Even during the second wave of the pandemic and the subsequent lockdown and closures, Taskmo was able to increase the merchant onboarding process five times faster! The taskers deployed by Taskmo, worked across multiple states covering over 250+ pincodes and completed the task within 2000+ working hours. Today, Taskmo has worked with over 25+ payment aggregators and successfully completed the merchant onboarding process.
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