PayNearby unveils its new brand identity and a new tagline “Zidd Aage Badhne Ki”
Eyes to strengthen brand equity and solidify leadership positioning to pursue determined growth
Mumbai, 11th February: In line with its vision to create a digitally one nation and connect Bharat with India through financial empowerment at the last mile, PayNearby, the country’s largest branchless banking network, today unveiled its new brand identity. The company introduced its new brand logo and brand slogan ‘Zidd Aage Badhne Ki’, signaling the company’s determined vision to lead India into a new age of growth and prosperity, where the benefits of advancements reach everyone, everywhere.
With over 15 lakh retail touchpoints across 17,300 PIN codes in India, servicing close to 12 crore Indians on a range of products and services while delivering a monthly throughput of ~5000 crores, PayNearby today stands tall as the largest agent banking platform in the entire Southeast Asia region. The company now aims to aggressively upscale its retail network from the existing 15 lakhs to over 50 lakhs in the near future. The new brand identity is, thus, part of a larger evolution of the brand as it aims to solidify its leadership position while diligently embarking on a mission to uplift the life of every citizen in the country.
While driving financial inclusion at the last mile, empowering local retailers who are building the nation ground-up and thereby creating a digitally forward and financially inclusive India has been the company’s constant pursuit. With the new brand identity, the company aims to reimagine its brand narrative to reflect its current strengths, core values and aspirations. The idea behind the logo revamp is to present PayNearby 2.0, with a fresh brand narrative that is deeply rooted in the past, is reflective of the present and draws inspiration for the future.
The new brand logo consists of two key elements – an arrow symbolising growth and prosperity and the location pin denoting PayNearby’s reach across the country, to everyone everywhere. The corporate logo thus represents the company’s vision of growth while its brand narrative ‘Zidd Aage Badhne Ki’, reiterates its commitment to empower the last mile through its retail network, who have the ability to influence and uplift the surrounding ecosystem.
Commenting on the development, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby said, “Determination is not just a word but a passion that is inside us all. When we started our journey, little did we know that we would make such a big difference in the lives of our countrymen at the last mile. It is this determination and passion to move ahead towards our goal that has made this possible. And, this journey would not have been imaginable without our Digital Pradhans, who have time and again selflessly come to the aid of the banking sector to serve the masses including the migrants and rural population by offering seamless digital and banking services, even in these tough times. The remarkable work done by our retailers and our 650+ colleagues at PayNearby, over the last four years has made PayNearby synonymous with financial inclusion in the country. Our brand narrative is an ode to the resilience demonstrated to succeed against all odds, to the zeal demonstrated to lead a better life individually and collectively as a nation, and to the unstoppable ambition that each of us carry to be a part of the country’s growth journey.”
“PayNearby’s new logo represents the company’s commitment to drive change and innovation to connect Bharat with India and to empower every retailer, thereby taking digital and banking services to every nook and corner of the country. While our name remains the same, our logo has changed significantly to better represent PayNearby 2.0, our dreams and commitment to create a stronger, better India. Zidd Aage Badhne Ki is not just an expression, it’s our emotion,” Bajaj added.
Commenting on this Jayatri Dasgupta, Chief Marketing Officer said, “India is a young nation, with a billion dreams that we live every day. From the daily age worker who migrates to a city for a better life, to the young man from rural India donning the Indian shirt to play for his country, our thirst to move ahead, to do better is exemplified in numerous moments around us.
Our customers and our Digital Pradhans are living examples of this determination. They personify the strong zeal to create a better life individually and collectively as a community. They reflect the dreams of our founders and 650 of us at PayNearby, who mirror this unstoppable ambition to make meaningful impact in our country’s growth and create a better life for ourselves and the nation.
Our brand positioning is rooted in that sentiment, it is reflective of the journey we had in the past 4 years, our reality today and our inspiration for tomorrow. We thank our research partner-Eschalot, and our creative agency- Leo Burnett Orchard, who partnered us in this journey.”
About Nearby Technologies Pvt. Ltd.:
Incepted in April 2016, Nearby Technologies is a fintech company offering financial/non-financial services to the underbanked and unbanked segment. Nearby Technologies works on a B2B2C model through its various brands – PayNearby, Insure Nearby, BuyNearby and few more. PayNearby empowers retailers at the first mile to offer digital services to local communities, thereby boosting financial inclusion in India. Retailer services are focused on Aadhaar based banking services, Domestic Remittances, Bill Payments, Card Payments, and insurance services among others.
It was founded by Anand Kumar Bajaj, Subhash Kumar, Yashwant Lodha & Rajesh Jha who bring with them rich experience in the field of banking, payments and other financial sectors. PayNearby is a DIPP-certified FinTech startup, partnering with various financial institutions including YES Bank, RBL Bank, ICICI Bank, State Bank of India, Axis Bank, CC Avenue, Bill Desk, NPCI, FASTag, NBFC and FMCG companies. It is the sole technology provider using Aadhaar Enabled Payment Services (AEPS) and IMPS to YES Bank, making them one of the only two fintech companies hosted by the National Payments Corporation of India (NCPI).
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