If you are interested in Spice Money, then you have come to the right place. The company has several services for users to avail of. If you are a new user, the above-mentioned steps will guide you through the process. However, if you are an experienced user, you must also refer to some essential instructions. If you follow these steps, you will have no problem accessing Spice Money’s services. Read on to find out how you can use Spice Money’s services to make your financial transactions even simpler.
Rural & Semi-Urban Financial Inclusion
If you’ve ever wished to make a payment online, Spice Money is the company for you. This fintech company launched in 2015 is focused on rural and semi-urban financial inclusion. Their system helps over a million rural and semi-urban customers in India perform financial transactions. As a fintech company, Spice Money offers mobile payments, digital banking, and insurance services. Their customers are located in nearly 18,000 districts and blocks in India.
As a rural fintech, Spice Money is transforming Bharat banks and the way rural Indians make their payments. It recently announced a zero-investment entry program for rural entrepreneurs. The initiative helps shape the company’s vision and strengthens its digital payments ecosystem. In the future, Spice Money hopes to reach a million rural entrepreneurs by digitizing their businesses. For now, however, their success depends on the success of this program.
B2b & B2c Services
Spice money offers b2b and i2c services to its customers. The company offers bill payment service with safe payments system, and the plan also allows customers to pay bills on their mobile phone. It also plans to add entertainment apps to its services in future. The company also offers mobile and DTH recharge services, which are growing in popularity with the increase in mobile phone usage. Customers can also take advantage of Suraksha insurance feature. The insurance cover is available to them for free and can be paid through credit cards.
Aside from mobile recharge, Spice Money offers money transfer, online booking, gas registration, electricity bill, PAN card, and banking-related services. The company launched Spice Money as part of its initiative to bring digital services to rural India. The service is available in 7 languages, and the app also provides business customers with financial services. The company is regulated by the Reserve Bank of India and holds the necessary licenses to operate in the country.
One of the fastest-growing fintech in rural India, Spice Money has introduced a mini-ATM service in one of the world’s most remote villages. It claims to have facilitated a Rs 1400 crore gross value transaction. The company also claims to have a network of over 1,000 ATMs. The company will launch new mini-ATMs in every state in India before the end of the year.
The Spice Money Mini ATM accepts all major credit and debit cards, and it offers a safe, secure way to make withdrawals and deposits. The Mini ATM also supports chip card systems and can process payment information using a secure system. Credit and debit card details are not stored or processed at the mini-ATM, ensuring total privacy. You can use it to withdraw cash, make deposits, pay bills, and more!
One of the most common complaints about Spice Money is that it charges a minimum of Rs 5 to transfer funds from its wallet to a bank account. Thankfully, this charge isn’t excessive and is actually a small price to pay for the convenience it offers. While some other wallets charge a minimum of Rs 10 for the same transfer, Spice Money has lowered this fee to just Rs 5.
In order to encourage Adhikaris to build their own ATM network, Spice Money is giving away micro-ATM devices at no cost. It also aims to help Adhikaris establish their own ATMs, bringing more rural areas onto the banking map. In May 2021, Spice Money will be the first company to introduce an ATM in the last village of India, Chitkul. Before the introduction of the ATM, the nearest ATM was 25 kilometers away in Sangla, so the company hopes to cover more remote villages through the ITM network.
Amounts of Money
As a retailer, you can make huge amounts of money with Spice Money. The company offers generous commissions to its agents, who get paid for performing various tasks, including Cash Withdrawals and Balance Inquiries. Spice Money occasionally modifies its Cash Withdrawal commission schedule. This company also allows its agents to perform as many Balance Inquiries as they wish per day. The payment amount is usually in the region of Rs. 500 or more.
To receive payment through Spice Money, you must have an ID. The fee varies, but the ID will allow you to use all the services available. To activate your ID, go to the official website, select ‘Join Now’ and enter your first and last name, city, and state. After that, you will be redirected to a secure page where you need to fill out your personal information.