Yuma wanted to enter a business line in the B2C segment and there was a need to collect and manage payment from end customers for the battery swapping services. Yuma was looking for a trusted banking partner and under a single platform, offer multiple payment methods to two and three-wheeler riders/owners for their regular transactions (subscription fees) and simultaneously cater to larger value transactions, security fees, to enhance the end-to-end experience for their customers.

Yuma partnered with Citi to build a robust solution, which addresses:

• Seamless payments from customers across different forms and modes.

• Integration with its in-house and consumer facing application.

• Pay by link.

• Transaction visibility and dashboards.

• Quick refunds.

• Reconciliation reports.

• Management of default and chargeback risks.

The solution was developed in close partnership with Yuma using several white-boarding sessions involving stakeholders across the company’s business, commercial, technology, finance and treasury teams. The bank worked with Yuma to advise on different payment methods and customer journeys.

Yuma built a customer platform to enable expansion of its BaaS, and its bank integrated with Yuma’s platform to enable seamless instant payments from EV owners. Using this solution Yuma’s battery swapping specialists can enable seamless collections via several modes and QR based payments. The solution also provides Yuma with dashboards for end-to-end real-time visibility along with a solution to manage real-time refunds.

This BaaS solution will be expanded to a wider customer facing platform to enable secure payments across different payment methods including UPI, credit and debit card, internet banking and buy now pay later. With this partnership, Yuma is able to launch this expanded BaaS offering to help grow the EV infrastructure and adoption rate in India and offer the best battery technologies which are efficient and dependable.