“Never accepted digital payments, don’t plan to start anytime soon”

Sunil Agarwal, the proprietor of Chappan Bhog, a sweets shop in Jamshedpur, has a well established business. He started the business in 2008 and since then has added 2 more shops in the city. He has plans to expand to other cities which he believes would have already happened if not for the pandemic.

From recovery to growth

When asked about the impact of the pandemic on his business, Sunil says that at one point he was scared that he might have to sell one of his stores to keep the business afloat. He has taken a huge loan for his expansion plans and his shops being out of business for months did not help. He takes pride in the fact that no amount from staff salary was deducted during the lockdown.

“Our business thrives on festivals and happy occasions. Last year gave us very few such moments and there was bound to be a downturn.”

The business has picked up since Diwali and Sunil is optimistic. He says that the recovery phase is behind him and is now planning ahead for growth in 2021. This is the year he wants to take his business to a new city as well.

‘No’ to digital payments

Sunil only accepts cash and card payments at his shop. He has been approached by many digital wallets but he does not trust them. He is uncomfortable providing his bank account details on such portals as he has seen and read stories of payments fraud in the past.

“A close relative of mine was cheated of 10 lakh when he provided his bank details to a person over phone.”

He also feels that he isn’t losing out on business by not accepting digital payments. Some customers do ask for the option but they always carry cash or card as a back up. Sunil is confident that he will not need these apps in near future as well.

“I survived demonetisation and now the pandemic without mobile wallets, don’t think I need them.”

Merchants of India is an Insights Series from IDfy to help India discover its merchants.

IDfy helps e-commerce, payments, wallets, and consumer goods companies onboard merchants from anywhere, anytime, with any document. For more information, please write to shivani@idfy.com

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