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Monday, July, 4, 2022

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NoBrokerHood Earns Coveted PCI DSS Level 1 Certification First to Become E-Invoicing Compliant as per Govt Mandate


NoBroker Technologies Solution Pvt. Ltd.


Bangalore, Karnataka, India:
Becomes the first real-estate society management app to earn the highest-level PCI-DSS certification 
Strengthens its position with instant reconciliation feature ultimately translating into extra savings for societies

NoBrokerHood, the society super app by NoBroker has further strengthened its ERP offering by becoming the first real estate society app to earn the coveted highest level PCI DSS certification. The certification is awarded only when more than 60 lac transactions are processed on the platform annually. PCI DSS is a set of network security and business best practices guidelines adopted by the PCI Security Standards Council to establish a “minimum security standard” to protect the customers’ payment card information. The company has reinforced its position as one that has a strong commitment to data protection for its customers.In the pursuit of making user data even more secure, further to receiving ISO 27001, it has added another feather in the hat that reasserts its supremacy among society apps.Over 3 million households have on-boarded NoBrokerHood. Aside from the confidence of having their payments processed with the most secure and advanced payment system and minimal payment failures, they also enjoy a smoother, faster experience for users.Commenting on the development, Akhil Gupta, Co-founder, and CTO of NoBroker said, “We witness lakhs of transactions happening on the platform, and as a company are happy to have earned this certification as it further boosts the confidence of the residents and management committee members in the platform. We are the only ERP in the country that does instant settlement of the resident transactions to society accounts at no extra cost at the same time allowing residents to do their transactions for free on UPI and at 50% fewer charges for non-UPI transactions as compared to other apps.”This instant settlement feature has been a boon for societies as they have been able to reconcile their bank statements automatically without hiring an accountant/CA. It is additional savings that go back into the residents’ pockets.“We were the first to bring in the best in class one-stop-shop app which not only allows societies to collect payments from residents but also lets them manage vendors, vendor payment, asset management, preventive maintenance of assets, along with automated secured entries via boom barriers and no-touch/pin-less entries to the amenities using our patent-pending invention,” he added.NoBrokerHood is also the first real estate ERP that can support both B2B and B2C billing. It is now e-invoice compliant and can generate e-invoice on the GSTIN platform as per government notification 01/2022 applicable from 1 Apr 2022. 

About NoBroker, India’s first proptech unicorn, is a tech-based brokerage-free real estate platform that makes real estate transactions seamless and efficient. One-stop shop for all property-related needs is removing information asymmetry in the real estate sector in India with the use of cutting-edge technology. It participates in the entire user journey starting from the house search to packers & movers, home loans, home painting, and cleaning services, legal services, rent pay, etc. With more than 1.8 crore registered users across Bangalore, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR, it is the world’s largest P2P real estate platform. Founded by Akhil Gupta from IIT- Bombay, Amit Kumar Agarwal from IIT- Kanpur and IIM- Ahmedabad, and Saurabh Garg from IIT – Bombay and IIM – Ahmedabad, is steadily working towards streamlining India’s largely unorganized real estate industry. The platform has raised a total funding of $361 million from marquee investors such as General Atlantic, Tiger Global, Elevation Capital, Moore Capital, Beenext, and KTB Ventures. Vijay Shekhar Sharma and Anand Chandrasekaran are angel investors in the company.About NoBrokerHoodNoBroker launched NoBrokerHood, a smart visitor and residential community management system that makes life more convenient and secure for residents of housing societies and townships. NoBrokerHood acquired Society Connect in February 2020 to integrate the financial module with its services on one single platform and make society living easy and hassle-free.

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