Online Bill Payment through XPay Life. You can make faster, easier and secure payment for all multi-utility bills such as Electricity, Gas, Water, Postpaid Mobile bill, Landline, Broadband, DTH Recharge become easier with XPay Life.
India is a cash-dominant country that revolves all the financial transactions through cash where the banks had a prominent part to play with frequent withdrawals and more business. The bank sector flourished.
Then in 1980–1990, the digital payment mode started to replace the traditional cash flow. The introduction of Electronic clearing service and electronic funds transfer created a wave in the cash-dependent society. The banks flourished even more with the issuance of bank customized debit and credit cards. To pay the water bill, standing in long queues was the norm back then
In the coming years, the card system was rampant and ATMs were mandatory for the immediate cash withdrawal. In the years 2000–2005 new secure fund settlements were introduces called Real Time Gross Settlement (RTGS) and net banking became prevalent with the internet influx into the society giving rise to the National Electronic Funds Transfer (NEFT) system.
The immediately followed by the Payment and Settlement Systems act In the year 2006 that led to the launch of the AADHAAR- it is a unique biometric identification program that was aimed to provide a unique common identification to every citizen of India.
The by the year 2010 the IMPS was launched which is an immediate payment service.
online landline bill payment was now done with the frequent use of the mobile systems to pay bills.
By the year 2011–14 saw the myriad of change in the way citizens accept the cash payments and hence there was a launch of RuPay card payment scheme which was the implementation of NACH(National Automated Clearing House)
The digital payment service was now to reach rural India as the untapped percentage was a humongous 80% and in an attempt to solve this, the government started the *99# service launch to explode the banking services in the ignored rural AREAS.
The Introduction of AEPS( Aaadhaar Enabled Payment System) was brought into consideration.
Next was the demonetization phase that Prime Minister Narendra Modi declared impacted the circulation of the cash to the minimum while black money well secured with the big hats of the town only had to lose the useless cash. Then there was a revolution in how the financial transactions were perceived. The mobile payment service providers fled into the market with innovative technologies supported by the Government regulatory policies.
The transactions related to IMPS, PPI(pre-paid instrument) and debit card exhibited the exponential growth in triple digits. Reliance big tv recharge online was done more frequently with every kind of transaction going online.
The BharatQR was introduced and government-owned BHIM (Bharat Interface for Money) was launched and soon the other private mobile payment service providers started competing for this.
The prominent shift to the digital payment was catalyzed by the demonetization scenario and people felt acquainted with the digital payment modes through mobile. The utility bill payment required urgent attention and apps started gaining popularity by solving the country’s essential problem of cash crunches by converting it into the fluid money. apepdcl online bill payment was the only option left with frequent cash crunches around the country.
Government regulations also aided in the growth of digital acceptance in the country. XPay.Life is one such private digital growth accelerator with a broader vision towards the “Digital India” mission. It has given a one-stop solution for multi-utility bill payment by tapping the digital market targeted on the 20% urbanites through its website www.xpay.life and by providing XPay Life application compatible on both Android and iOS devices. Postpaid Mobile Bill Payment can now easily be completed by using this application.
With the remonetization gaining back it’s momentum, the cash flow intensity became higher, there was decline in the digital payments as the people are still very comfortable with cash and actual cash domination was realized. Hence to transit people from the world of cash to the cashless digital arena, XPay.Life came up with an innovative infrastructure called as the bill payment kiosks that accepts cash as a bill payment mode. It is also integrated with the POS devices that accepts credit cards and debit cards. This is the company’s USP. Gas bill online payment can be made digital by using the kiosks instead of cash.
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