ShePays
"The Access & Trust Gap"
Problem Statement: The "Access & Trust" Gap in Women’s Finance
Despite the growth of digital banking, a significant "Financial Inclusion Gap" remained for women in India. The core problems identified by ShePays included:
Fragmented Financial Services: Traditional banking required women to navigate multiple platforms for savings, credit, and insurance, often with interfaces not designed for their specific life stages or literacy levels.
Manual & High-Friction Processes: Early iterations of financial services for women relied heavily on manual onboarding and physical documentation, leading to slow processing times and high drop-off rates.
The "Safety" Barrier: Building digital trust among women—who are statistically more cautious with digital transactions—required a high-security environment that didn't sacrifice ease of use.
The Solution: NovoStack’s "Unified Neo-Bank" Infrastructure
NovoStack transformed ShePays from a simple service app into a high-performance digital ecosystem through several key technical and strategic implementations:
1. Integrated Banking-as-a-Service (BaaS)
NovoStack integrated NSDL Payments Bank directly into the core platform. This allows users to open an "Advantage Savings Bank Account" with zero balance via a 100% digital KYC process. By eliminating physical bank visits, NovoStack removed the primary "time barrier" for busy women and homemakers.
2. Advanced Gold & Wealth Module
Recognizing that gold is a preferred savings asset for women, NovoStack engineered a sophisticated Gold Module:
Fractional Digital Gold: Users can buy BIS-certified 24K Digital Gold for as little as ₹1, allowing for micro-savings.
Physical Gold Conversion: Unlike standard digital gold apps, NovoStack built a bridge for physical ownership. Women can choose to accumulate digital gold and then have it delivered as physical coins or bars directly to their doorstep, or even exchange it for jewelry through partner networks.
Secure Vaulting: All digital holdings are backed by physical gold stored in 100% insured, secure vaults.
3. Lifestyle Integration & SheShops
To make the app a daily utility, NovoStack developed SheShops and a dedicated Voucher Module:
Curated Savings: The platform offers exclusive discount codes and shopping vouchers for brands that resonate with women (health, fashion, and household).
Incentivized Engagement: These vouchers act as "hooks" to attract new users and reward existing ones for maintaining healthy financial habits, such as hitting a savings goal.
4. Full-Stack Payment Suite (UPI & BBPS)
To ensure ShePays is the only financial app a user needs, NovoStack integrated a complete payment stack:
UPI Module: A seamless Unified Payments Interface (UPI) system allows women to send and receive money, pay merchants via QR codes, and manage their daily transactions instantly.
BBPS (Bharat Bill Payment System): NovoStack integrated the BBPS module to handle all household utilities. Women can pay electricity, water, gas, and broadband bills, as well as recharge mobile phones, all within the secure ShePays environment.
5. Customized Fintech Mesh & Security
Insurance & Guidance: A specialized API mesh connects users to health and pension insurance providers and "Ask Expert" modules.
Scalability: The architecture was built to handle high-volume UPI transactions and BBPS traffic simultaneously.
Security: Enterprise-grade encryption was critical in helping ShePays secure institutional funding from the Bharat Angels Fund.
Ready for
Excellence?
Join the league of market leaders who engineered their breakthrough with Novostack.
Start Your Project