Based in Pune, Surya Electronics deals with electronic appliances, LED panels, mobile phones, and IT products. What began as a small store in 2001 has grown into a full-fledged electronics superstore, offering customers a wide range of products and brands. In the next three to five years, the store plans to expand in and around Pune.
With cards becoming the preferred method of payment over cash and digital wallets fast gaining popularity, Surya Electronics was looking for a solution that accepted all methods of payment. It was also looking to increase customer spending and build customer loyalty.
The electronics store approached us for a solution and soon an Electronic Data Capture (EDC) machine was installed at the store.
With the value-added service offering of equated monthly instalments (EMI), Surya Electronics' customers could easily make payments in convenient EMIs rather than paying for big-ticket products in one go. The store was able to process EMI transactions across banks, tenures and product categories. In addition, with the Promozone solution it was able to attract customers with cashback offers and targeted discount programs. This led to an increase in the purchasing power of its customers, ultimately resulting in winning customer loyalty and higher revenues.
"With a growing and expanding business, an integrated payment solution was a key business requirement for us. We are happy with the way Pine Labs has taken care of the entire process - from enabling multiple payment methods to offering easy and flexible EMIs and attractive discount offers," says Ramesh, Proprietor, Surya Electronics. "Throughout the integration process, Pine Labs provided great support. They were just a call away whenever any concern arose."
With real-time transaction analysis and reports, Surya Electronics has leveraged the insights to understand consumer behaviour and product preferences. Through a single POS solution, it has been able to grow its business by offering spot EMIs and rolling out targeted discount programs.