The recent demonetization drive by the government is moving India towards a cashless economy making inevitable for enterprises to digitize their business and accept multiple payment types including cards, mobile wallets, UPI and other cashless modes of payments. The euphoria and attention around consumer paying digitally has reached dizzying heights and estimated to reach 300 million by 2020 whereas, the non-cash payment options will surpass cash by 2023. On one hand, where the penetration of debit & credit cards and mobile wallets is quite high and smartphone users have also grown exponentially in the country, the electronic payment industry still lies in a scattered state with smaller retailers finding limited solutions at one place.

Standing in the sharp contract is AMI Merchant Services, a US-based company (functional in international economy since three decades) that offers a full suite of digital payment processing services including EDC terminals (PSTN, GPRS, Mobile POS and Barcode), e-Commerce

(Payment gateway, Link payment and SMS & Email invoicing) and cash payment under one umbrella. “While our competitors provide just the EDC terminals, we have other products to compliment it, which gives an upper hand in the growing cashless economy of India,” avers Rubal Walia, Director, AMI Merchant Services.

"Being a service provider firm, our main focus is always to render customers with some extra ordinary experiences related to services"

Providing Flawless Services
Believing that there cannot be a one-size-fits-all strategy for corporates, the company has identified eight partners who bestow variety of services & products and cater to 11+ national & international banks. These partnerships not only aid AMI to furnish any & every demand of its merchant but also help it to acquire clients from domains like retail, hospital & pharmacy, restaurants & cafe, e-Commerce, travel agencies, beauty salons, education and others. Apart from customized services, the firm guarantees to deliver entire range of payment solutions at lowest rate enabling enterprises to save money while safely accepting all major credit & debit cards for increased profits and improved business.

“Being a service provider firm, our main focus is always to render customers with some extra ordinary experiences related to services,” adds Rubal. With an intention to grant seamless digital payment services, AMI purveys dual sim

terminals (switch sim cards in case of network problem), and access to password protected ram portal where merchants can access real time transactions and obtain payment advice & GST certifications of any previous date/transaction and signs A7 pager agreement (cannot be changed without three month notice) with all the commercials mentioned on it to avoid sudden rate change. To further enhance customers’ experience, the company deploys auto settlement software that batch out the terminal everyday at 1 AM (relinquishing the chance of missed batch out) and carries-out entire payment processing directly via bank to prevent breach of data.

Expansion Strategy
AMI’s innovative staffs make sure that clients have conceded multistage process (verification to credit history check) and met all the company's standards before issuing terminals, there by minimizing the changes of frauds. The company’s dedicated team of 128 sales associates continuously works on field to acquire more retail customers whereas its technology team in Atlanta is soon going to launch first clover terminals in Indian market.

AMI envisions expanding its footprints across various Asian countries, increase sales team count to 350 and revenue by 80 percent in the coming future.“While we have indirect competitors who are burning cash of their investors and experiencing huge losses for gaining merchants, we at AMI only do business in positive figures,” concludes Rubal.