January 2, 2017 Lohi News & Updates

“Let this 2017 be a continuation of your ‘Hard Work, Keenness & Enthusiasm’ and ‘Determination, Patience & Investments’ that you took in the last 366 days; We Team Achariya wishes you the same ‘Success & Prosperity’ with flying colors for the next ‘Magnificent & Pleasant’ 365 days ahead.”


As 2016 fades away, we want to look back on the events that made this year unique in ways, both rewarding and challenging. Achariya would like to share the milestones that were achieved only because of your contribution as our business partner.

We would like to take this opportunity to thank each of our business partners for their continuous support and the trust that they have placed in Achariya. It has been a pleasure to serve you as our valued customer; we anticipate and continue to look forward to do business with you in the future.

The Snapshot Of 2016 With Major Highlights

New Product Releases/Features/ Highlights

January

Customer Meet – To improve the relation between Customer and Achariya, we have arranged a Customer Meet at Bengaluru, Karnataka.

Business Opportunity Video – A video on VAS Products was released for the customers to understand the scalability of our products.
10th Anniversary Celebration – It’s a sign of ‘Credibility’ and ‘Prosperity’ when an organization celebrates its anniversary; We Achariya celebrated its 10th Anniversary – ‘A Decade of Success’ on 26th of January 2016.
Trivandrum @ TAJ, Delhi @ RADDISON BLU, Mumbai @WILD DINING

March

Flight booking Engine Version 2.0 – To make our panel seamless we have Introduced Flight booking Engine Version 2.0
Special products for Election Campaign – To provide better earning possibilities during Election we launched Election Campaigning Special Products.
Achariya at Bengaluru ! – As a part of our business expansion, Achariya opened its 7th Branch Office at Bengaluru – “Silicon Valley of India” at Karnataka on 15th March.

April

Miss Call Verification Method in Money Transfer – To simplify the steps for adding Sender and Receiver, we have Introduced Miss Call Verification Method in Money Transfer Platform.
Withdrawal of Direct Cash Deposit – This decision has been made in accordance with the recent changes, which several Banks have made in their existing terms and norms with related to cash deposit acceptance and related charges.

May

Revised Business Policy – As per the Business needs, we have changed our existing terms and conditions of Business and introduced ‘Master Reseller Agreement’ and made it compulsory for direct Resellers those who are using Wallet Services.
Introduced 21 New Billers – 21 New Billers were enhanced to our panel so as to satisfy the requirement of our customers.
New Bank Account of BOI – To provide more cost effective Cash Deposit we introduced new current account with BANK OF INDIA.
Domestic Money Remittance Platform enhanced – NEFT – transfer limits have been further enhanced and now customer can transfer upto Rs. 50,000/-

June

TDS Rates Slashed – We have slashed the TDS Rates applicable on our customer commissions.
Service Tax Revision – Revised our service tax rates in accordance with the additional Cess of 0.50% levied by Govt of India effective from 1st June.

July

Special Cash Management – For Cash Deposit A new option has been integrated in the panel (Whitelist Banks) – wherein you can update the Bank Branches which you prefer to get whitelisted.

August

New ICICI Bank Account – Special Cash Management, exclusively for handling cash deposits in Branches & CDM machines.
Update on Service Restoration – Airtel and Neft Service are live with enhanced platform. The NEFT limit has been revised to 25000.
ICICI Automation – We have enabled the Automatic payment update for all same Bank to Bank transfer in our new ICICI bank account.

 

September

Default IFSC Codes – For IMPS transaction customer don’t need to know or input the exact IFSC Code pertaining to the receiver account for particular banks.
New Bus Operator Integrated – Integrated one more Bus Operator into our Bus Booking Platform with attractive commission.

October

Incentive Program for Money Transfer Customer (October) – Customer can get up to 0.15% as Incentive for Money Transfer Services.
Stoppage of Service Tax – For Flight & Bus Booking Services.
Mobile App Launched – The most convenient and revolutionary way to manage Flight Booking.
Five More New Bus Operators – Enhanced our bus booking platform with five more Operators with attractive commission.
IRCTC Service Launched – One more addition to our travel portfolio, IRCTC Booking integrated into our N-Level Reseller panel using which our customers can offer IRCTC Service to their Customer (Not Whitelable).
Hybrid Recharge System Launched – Now customer can maximize their earning possibilities from Recharge Services by integrating 3rd Party API’s into our whitelabel account.
Domestic Money Remittance Platform enhanced – ‘Sender Registration OTP’. Now only one OTP or a Missed Call verification is required to complete a transaction.
Domestic Money Remittance API – Version 1.2 Launched: Product using which our clients can seamlessly upgrade the integrated Domestic Money Remittance Service into their existing Website/Software.

November

Urgent Update Regarding Handling Cash Deposits – Banks demand authorization letter due to demonetization, hence we integrated an option to generate ‘Authorization Letter’ in the panel specifically for the customers who have satisfied the documentation parts like KYC and Master Reseller Agreement.

December

Auto fill Receiver Details on Money Transfer – To simplify the steps for adding Receiver, we have integrated the Auto fill receiver Details. Once you enter the bank account number of a receiver; system will search in our centralized database for fetching receiver’s Name, Bank Name & IFSC Code and will pre-fill the receiver registration form.
Enable Service tax – We have enabled the Service tax for Bus booking.
Global HLR Look Up – HLR provides real time information like Home network, whether it is Valid or not, Active or not, Roaming or not and Ported or not.
SMPP Reseller – SMPP customer can start reselling SMPP service by using our Whitelabel panel with the help of hosting their own domain.
Domestic Money Remittance Platform enhanced – As per the customer request we have removed the authentication of OTP/Missed Call for every transaction. Now onwards authentication will be required only for the first successful transaction initiated between a Sender and a Receiver.

Major Challenges

System Downtime on Domestic Money Remittance Platform – We faced major operational challenge in Money Transfer & Recharge service as a result an intermediate high failure and downtime issue occurred during the month of July & of August.
Margin decrease by various operators for electronic channel partners from time to time.
Demonetization affected very badly for Money transfer business as Migrant labours are not getting Salary/Wages.

Industry News

Achariya conducted Customer Engagement programme at Bengaluru (Jan 21st – 23rd) – An endeavor to enhance the relationship with customers.
TDS Rates & Service Tax has been slashed in all the industries.
Demonetisation Old Currency – Stripping the currency denominating Rs.500 and Rs. 1000 was a vital policy enacted by Government of India on 8th of November 2016
Achariya Expanded Trivandrum Office – To invent new ideas on our panel.

This year has been an eventful one, probably too eventful for many. For Achariya also it has been eventful one, fortunately in a much more positive way than many have experienced. On the technical front, this year we brought you better integration with citable and updatable methods, bigger, better and broader data types, and much more.

2016 has filled us with blooming confidence to achieve more milestones that generate value for our customers. Our focus for 2017 is to diversify our product portfolio further and provide products to our customers that will help to achieve their financial goals.

We anticipate the same level of trust and support from your end in 2017 for a long lasting mutually beneficial relationship.

Team Achariya wishes you and your family a prosperous Happy New Year!

 

 

 

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