INSTANT CONSUMER TECH PRIVATE LIMITED

In their own words

Instant Consumer Tech Private Limited (“InstaCash”) provides a unique diagnostics and pricing engine to check the health of a smartphone and assign a price to it. The tool is available both as web service and as an app on your smartphone. Diagnostic Tool: The unique diagnostic tool app checks and verifies over 45 functional points in order to determine whether the phone is functioning properly. These checks are largely automatic with few manual inputs. Pricing Engine: InstaCash pricing engine is an algorithm based on the market price of both new & used phones taking into consideration the age and diagnostics result. The algorithm runs automatically and periodically updates the market price of the various models. InstaCash currently provides pricing for over 1200 models. Customer 2 Business Process: InstaCash’s 3rd Party logistics vendor performs reverse pickup of the phone from the customer and deposits at the return center. The money is instantly credited to customer’s bank (via IMPS) or wallet at the time of pickup. Phone Liquidation: InstaCash pre sells the phones to the vendors. Vendors are empaneled with InstaCash and maintain advance deposit. Upon delivery of the phone InstaCash deducts the price of the phone and its service charge. This way InstaCash remains asset less. Used smartphone market is 7 Crs units & Rs. 24000/- crs and is expected to reach 14 Crs units and Rs 60000/- crs by 2021. InstaCash is running exchange programs with retail outlets in Delhi NCR and is looking forward to expand pan India.

Written by the company on its public Startup India profile. Not verified by us.