Got no loose cash change? Try mobilegullak
Retailers in India often struggle for loose cash (often called ‘change’) and many a times retailer insist you to buy something else worth of Rs 3 which ideally is chocolates or mints. Both customer and retailers are in loss because of these change issues.
Retailers in India often struggle for loose cash (often called ‘change‘) and many a times retailer insist you to buy something else worth of Rs 3 which ideally is chocolates or mints. Both customer and retailers are in loss because of these change issues. Many times retailers have to pay commission to agents for buying and stocking change in their cashbox.
To solve this issue, mobilegullak has taken a SMS and web based approach targeted towards these retailers.
1. SMS :- A sms gateway to receive and parse long code and send recharge instructions to telecom API integrator with 13 operators. Hence , retailer can just send SMS with below syntax and mention the amount he wants to return to customer :-
MG <operator code> <customer mobile number> <amount >
Once, this SMS is sent, customer receives the amount in his mobile. This amount then can be used to recharge his phone, DTH bills, Loyalty points or pay other utility bills.
2. mGLite is a desktop application which integrates with POS and allows retailer to save change in customers mobile phone. It is written in python and uses wxPython for UI. It gives multiple features to retailer and supports both online as well as offline mode.
mGLite is currently deployed at 26 stores in Delhi and Gurgaon and plans to start operations in Bangalore from 2nd Jan 2013.
As far as monetization model is concerned, mobilegullak charges 35 paisa for each transaction irrespective of the change amount getting saved and of course, they get recharge commission from telephone operators.
As interesting play, mobilgullak is trying to create a two-sided market and given the unorganized nature of this industry, it will be interesting to see how they crack the offline retail market.
What are your thoughts on this model?