The Digital Solutions Enhancing the Bill Payment Sector In India.

As India has seen a revolutionary increase in the acceptance of digital solutions in daily lives even while doing BSNL broadband postpaid bill payment, the sector doesn’t seem to stop. There are innovations every few days, there are start-ups committed to finding solutions to every customer problem and Prime Minister Modi is set to make India digitally empowered. With this account, there are many schemes and campaigns such as “Digital India” “Make In India” that is creating an uproar in the innovation Industry. This effect is not confined to one single sector, it has to create waves in the industry sectors like Education, Health, Corporate and bill payment industries as well.

The bill payment sector has seen revolutionary advances through the years, a decade ago, bill payment meant queues, timely payment, dues, scorching sun and closed counters for the day. the ubiquity element was missing and much needed. Soon the demonetization wave hit the country with cash crunches and the panaji electricity bill payment became an impossible task for common people. There is a saying that “ Necessity is the mother of all inventions”, we will add innovation to the line as well. Hence the need for alternative payments became predominant. Hence the government along with RBI( Reserve Bank of India “ created NPCI and Bharat Bill Pay that paved the way for the start of the era of the Unified Bill Payment Interface. This common interface would digitize India and increase the cash-less economy.

The influx of smartphones created the perfect ecosystem for implementing the UPI payments and there was an astronomic increase in customer acceptance. The digital shift was rapid and mobile payment service providers earned diamonds out of the business services. But as the online payment prevalent the problems associated with the security of the customer identity and financial data become vulnerable to the online fraudsters who created malware disguised in helpful apps and secretly wrote the code into the customer accounts. The result of which was a loss of billions of dollars for the companies through the customer accounts who were trying to make Gas Bill Payment or any other transaction. The Government on the side created regulatory policies concerning cybersecurity hygiene. This step was to create credibility with the brands and secure the citizen’s data and money.

The PCI compliance, the encryption of the data, sitemaps and https requirement for the website became highly important. Thus, there are few companies that used secure payment technologies to deliver highly secure services to its customers. XIPHIAS XPay Life Pvt Ltd is a start-up based in Bangalore expanding the bill payment sector through a gamut of bill payment services through mobile application, website, kiosk, POS machine bill payment and Mobile Vans.

These digital payment solutions are receiving high acceptance as the bill payment kiosk offering a medium for bill payment using cash. hence people who are stills skeptical about using the online modes of payment can easily accept the digital payment through the kiosk. These technologically advanced devices are user-friendly and provide navigation for the tata sky recharge digital payment

Also, these digital solutions aren’t confined only to the urban sector that is digitally literate. It is penetrating into the rural geographies in the form of mobile vans which again is equipped with the bill payment kiosk that accepts cash and cards, a vending machine for a social cause that dispenses free sanitary pads and condoms after each transaction. Hence water bill payment or any other utility bill payment can be made easily by the rural people increasing the time efficiency providing a secure platform for bill payment.

These digital solutions have certainly brought about a massive change in the way, bill payments are perceived in India.