It is easy to login to your Spice account using the website or app. The app lets you fill in your personal information while maintaining the privacy of your account. You can use the app to make payments and send money to and from other Spice users. You can also make purchases right from the app. The app is free to use and will save you from having to give your credit card information. But, you must note that you will be required to provide a valid email address when you use the app.
Personal Financial Experience
Spice Money is a Fintech startup that wants to give people a more personal financial experience. Its platform lets customers interact with an Adhikari, an online financial adviser, from the comfort of their home. Its services are available on any Android phone or browser. Instead of having to travel to a bank, Spice Money customers simply enter their Aadhar card number and name and they’re done. In addition to providing financial services, Spice Money also offers ancillary services like loans and insurance.
The startup has been able to generate double-digit growth over the past eight quarters. Its gross transaction value has more than tripled and EBITDA has grown four-fold over the past two years. The company recently announced a zero-investment entry programme to help rural entrepreneurs join the network for free. Its vision is to empower one million rural entrepreneurs with digital access to finance. To accomplish this, Spice Money is expanding its Adhikari network.
Small Business Owner
The fintech startup Spice Money aims to provide financial services to underserved areas in India. The company embeds the Adhikari (a small business owner) system within the local community, where they serve the end customers. Their aim is to become the largest digital financial services platform for rural India and help crores of rural entrepreneurs become financially independent. They will do this by establishing a network of Adhikaris who can assist users in the financial sector.
The company is targeting the under-served market in rural areas by offering micro ATMs and other financial products. These services allow customers to access money through their smartphones. The technology also facilitates the transfer of funds from one account to another. This helps customers avoid the hassles of handling cash or credit cards. Furthermore, consumers will enjoy more convenience as they do not have to visit multiple locations to make a payment.
Users & Repeats Customers
Since 2016, Spice Money has been operating as a leading mobile wallet. The mobile wallet helps people pay their bills and get all their related information in one place. The company aims to develop a strong digital infrastructure in India by enabling rural and semi-urban areas to access financial and digital services. The company also has an effective repeat customer franchise. Since its launch, it has seen an increase in both new users and repeats customers. The company has acquired the RBI as well as BBPS licenses to make payments easier for its users.
The new regulations will simplify the process of transferring money among users and also provide a safe environment. Users of the new payment system will be able to transact without any hassle. Moreover, it will reduce the risk of fraud, since it is backed by a bank. Furthermore, users will not have to worry about losing any of their bank details because of security measures.
IMPS or NEFT Money Transfer
IMPS money transfer is a safe and fast method of sending or receiving large amounts. It does not require the recipient to provide his/her bank account number. To send money using IMPS, all you need is the MMID (Master Account Number), a unique seven-digit number issued by the bank. Spice Money is one of the fastest-growing digital payments companies in India. Apart from its money transfer services, the company also provides a wide range of payment-related services. Its network includes mini ATMs and customer service centers across the country.
The AEPS fee for money transfer is usually around Rs. 5 per transaction, depending on the amount. The service also includes a mini statement option for Rs. 3.25. The NEFT option is the preferred method of money transfer. The company uses multiple levels of authentication for your security. The app also avoids the need to visit a bank branch or stand in a long queue to transfer money.