Chillr, a leading Indian mobile payment app, has launched a new payment service, called ‘Mass Pay’, to improve its services and allow easier disbursements. Mass Pay can be used to make bulk payments to vendors without any manual interventions. It works on IMPS platform.
The app, which is under beta testing right now, is expected to provide easiest payment solution for retail businesses in India, where bank transfers are required to multiple merchants at one time. The app’s transactions are secure and credited in almost real-time.
Chillr helps the businesses in easy disbursement of money to vendors and microlenders. The application works on API or the web page. API can be directly integrated into the Chillr app for multiple transactions. For using the web application, users can do the following –
- Upload a .csv (Microsoft Excel extension) file on the web app with the payout details. The .csv file should have recipient’s details and bank’s IFSC code for payments
- Once the file is reviewed, authenticate the payout with a mobile PIN(also known as MPIN)
- The amount will be instantly credited to the vendor, which Chillr claims can be as small as Re 1 and to as many vendors as possible
The recent UPI launch in India could threaten this service because UPI is about to bring its own unified digital wallet in India. This may prove to be a threat to the app unless there is a unique selling proposition attached to it.
Last year, Chillr had joined hands with HDFC Bank to enabled HDFC bank users instant multi-bank money transfer services. Chillr has raised $6 million in series A funding from Sequoia Capital in March 2015.