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PaisaPower.com has launched PaisaPower Network, a
100% subsidiary, which is India's first integrated, multiproduct,
web-enabled, vendor-neutral distribution company for financial products
and services. Through this network, PaisaPower endeavors to gain
strategic control over financial services distribution, a key success
factor in the financial services industry.
Direct and Indirect Services
 Speaking
at a press conference, Austin P.M, Chief Executive Officer,
PaisaPower.Com Pvt Ltd, said that a web-based business faces
various constraints like limited penetration, low usage of e-commerce,
a huge offline market and preference of traditional intermediaries
over web-based ones. PaisaPower has been able to work around these
contraints through technological solutions. However, there are no
plans to go offline. PaisaPower plans to get into both direct and
indirect online distribution strategies. The direct services cater
to a niche audience and the indirect services are for consumers
who are not online. PaisaPower Network will be a blend of a captive
team and franchisees. This expansion helps them take up distribution
of Insurance products and services.
Franchisee Network
PaisaPower will endeavor to capture the huge offline market by
bringing the entire supply chain into a common web-enabled platform.
The company plans a network of 35 franchisees, apart from its captive
teams in 6 cities (Chennai, Bangalore, Hyderabad, Pune, Mumbai and
Delhi). PaisaPower network will link franchisees, institutions and
its own team through the PaisaPower Extranet, a common web-enabled
platform. The company has already identified franchisees in various
locations in Southern India. The PaisaPower Extranet will be an
interactive forum and not merely an information source. The supply
chain will benefit from a technology-enabled, back-end operation.
Voice-Enabled Services
Also on the cards is a voice portal, both in English and Tamil.
Consumers will be able to access information from the web, without
logging on. All they have to do is dial in their pin number and
they will be able to get information on stock quotes or the status
of transactions made etc.
| Author : Anuradha Sriraman |
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6:24:41 PM 
