Naspers-backed Dot targets to digitize 5 lakh merchants by December 2020

South African internet firm Naspers-backed Dot plans to digitize around 5 lakh merchants and facilitate 10 lakh transactions per day by the end of this year, a senior company official said on Wednesday.

The company has raised around Rs 60 crore in a round led by Naspers firm Payu Fintech Investments for developing QR code-based contactless commerce technology and digitise merchants across the country, Dot founder Shailaz Nag told PTI.

Naspers has invested in several Indian firms, including Swiggy, Byju's, OLX and MakeMyTrip.

Nag said Dot has developed contactless commerce technology which does away with the need for people to queue up at any eatery or while shopping.

"The entire catalogue of a merchant can be accessed by a QR code scanning and transaction can be made on that digital catalogue. There is also no need for customers to download separate apps for QR code scanning. Around 2,500 large format retailers have started using it and we plan to take it to around 5 lakh merchants by year end," Nag said.

The company started deployment of the technology at food outlets like Haldiram's, Social, Chili's, Cafe Delhi Heights, Fab Cafe as well as retail brands, and is now planning to reach out to other merchants for their digitisation.

"Our focus is also very clear. We aren't giving any app or website to offline retailers to start running to become digital. Our goal is to provide a digital commerce platform to offline merchants and use channels like WhatsApp, Google, UPI, net banking etc for post transaction engagements with the end user," Nag said.

The company will charge merchants on a per transaction basis for using this technology.

"We are looking at 10 lakh transactions per day on our platform by the end of this year," Nag said.