BLS E-Services provides digital and physical products and services in the G2C, B2C, B2B categories in semi-urban, rural, and remote areas where penetration of internet is low and citizens need assistance in availing basic technology-enabled services. They organize their business along three primary business segments, (i) Business Correspondents Services (ii) Assisted E-services; and (iii) E-Governance Services.
They act as business correspondents to provide banking products and services on behalf of banks, delivery of various e-governance initiatives of the State Governments in India, and a variety of assisted e-services through retailers and digital stores also known as BLS Touchpoints, including PoS services, ticketing services, assisted e-commerce services etc.
Strengths And Risks
+ Asset Light Business Model: Company's merchant led models are a capital light business strategy in terms of network expansion. They have developed their own technology platform which allows them to service a wide pool of citizens and merchants and cater to their diversified requirements.
+ Enabling Social and Financial Inclusion: Company's services offerings have led to social and financial inclusion of marginalized communities and citizens at the grass root level and company intends to continue to expand their services to more such citizens.
+ Network Effect: Company's ability to bring together the advantages of G2C, B2B and B2C models within a single platform provides many touch points for the consumer and back-end entities, thereby enhancing the customer footfall by 3,50,000 consumers. They have diversified streams of revenue, primarily due to an increase in array of services provided through BLS Touchpoints and BCs.
at our BLS Touchpoints and BLS Stores and to increase scalability.
+ Strong Parentage : Company's Promoter, BLS International Services Limited has an established track record for providing visa, passport, consular, and other citizen services to state and provincial governments across Asia, Africa, Europe, South America, North America & Middle East through its tech-enabled platform and is the only listed company engaged in this domain in India.
- Limited Operating History: Company has limited experience, having begun its operations as a special purpose vehicle in 2016. Thereafter, They acquired Starfin and ZMPL which had 1,384 active CSPs and more than 11,500 active CSPs. If they are not able to successfully compete in newer business segments, it can impact revenues.
- Regulatory Risk: A substantial portion of the revenue is generated by BC business operated by subsidiaries, ZMPL
and Starfin for their banking partners. Banking partners are regulated by the RBI and any change in the RBI’s policies and regulatory framework could adversely affect the business.
business,
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