Pay Nearby Details?

 

PayNearby, officially known as Nearby Technologies Private Limited, is a leading Indian fintech company founded in 2016 by Anand Kumar Bajaj, Subhash Kumar, Yashwant Lodha, and Rajesh Jha. Headquartered in Mumbai, Maharashtra, the company aims to democratize financial services by empowering local retailers to offer essential banking and non-banking services to their communities. citeturn0search6

**Key Services Offered by PayNearby:**

1. **Aadhaar Enabled Payment System (AePS):** Facilitates cash withdrawals and balance inquiries using Aadhaar authentication, enhancing financial accessibility in remote areas.

2. **Domestic Money Transfers:** Enables secure and swift money transfers across India, benefiting especially migrant workers sending remittances to their families.

3. **Bill Payments and Recharges:** Provides a platform for paying utility bills and recharging mobile phones, streamlining daily transactions for users.

4. **Micro ATM Services:** Allows retailers to offer cash withdrawal services through portable Micro ATMs, addressing the issue of limited ATM infrastructure in rural regions.

5. **Insurance Products:** Offers affordable insurance options, including health, life, and accident coverage, to underserved populations.

6. **Digital Payments:** Promotes cashless transactions via QR codes, Aadhaar Pay, and other digital methods, contributing to India's digital economy.

7. **PAN Card Services:** Assists individuals in applying for PAN cards, essential for financial and tax-related activities.

8. **Lending and Microcredit:** Collaborates with financial institutions to provide microloans to small businesses and individuals in need of financial support.

As of recent data, PayNearby boasts a network of over 5 million retailers across more than 17,000 pin codes in India, processing millions of transactions daily. citeturn0search0 The company has received several accolades, including the BFSI Excellence Award (2022) and the Great Place to Work Certification (2022). citeturn0search1

Regarding employee satisfaction, PayNearby Technologies holds an average rating of 3.8 out of 5 based on 192 reviews on AmbitionBox. The ratings across various categories are as follows:

- **Company Culture:** 3.8

- **Salary & Benefits:** 3.8

- **Work-Life Balance:** 3.8

- **Skill Development:** 3.8

- **Work Satisfaction:** 3.7

- **Job Security:** 3.4

- **Promotions:** 3.3

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These ratings suggest a moderately positive employee experience, with strengths in company culture and work-life balance, though there is room for improvement in job security and promotional opportunities.

In summary, PayNearby plays a pivotal role in enhancing financial inclusion in India by leveraging local retailers to deliver a wide array of financial services, thereby bridging the gap between unbanked populations and formal banking systems.