Speridian’s Beacon E-Village Solution transforms cashless payments


Our client, a major Indian regional bank, adopted Speridian’s Beacon E-Village Solution to create a digital payment platform.  This helped them navigate Indian demonetization, which had proven to be challenging, particularly in rural areas.  In doing so, it allowed them to expand further into underserved communities.


Customer Situation

In late 2016, the Indian government imposed a policy of demonetization.  This proved very disruptive to commerce across the nation.  Without a standard means of paying for transactions, things as simple as paying for labor or merchandise became a struggle.  The client approached Speridian seeking a mobile payment system, one that could meet the following needs.

  • Create a cashless mobile based payment system available to local communities
  • Enable real time Intra-bank transfers through cashless payments
  • Provide customers with the credit/debit acknowledgements, transaction histories, account summaries etc.
  • Support new account outreach by the bank


Speridian’s Solution

After carefully reviewing the requirements, Speridian recommended our Beacon E-Village Solution.

  • Speridian’s Beacon E-village is a digital payment platform that gives bank customers the option to conduct cashless payments through a mobile application
  • Bank customers can download the application from the Google Play store, registering to associate their bank account information with their mobile phone
  • Merchants wishing to use the payment solution must register with the bank and then download the application from Google Play store
  • Customers can make payments via QR code scanning (for smartphone users), or OTP (for basic phone users)
  • Beyond facilitating transactions, the solution also applies strict security protocols to prevent misuse of funds and creates an auditable compliance trail


Technologies Used

  • Front End:  Python, Django, Eclipse, ADT, SQLite
  • RDBMS: PHP, MS SQL Server


Business Impact

The business impact was substantial.  Implemented in just three days, the application was enthusiastically adopted by businesses and consumers alike.  It replaced the cash crunch that had previously existed with an easily accessible mobile platform that could be used anywhere.  The ability to receive 24×7 support, along with the built in regulatory, security, and compliance features greatly improved customer satisfaction.  Adoption also created a foundation for expanding services into more rural and underserved communities, ensuring steady growth.

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