Four Security Factors that Fintech Companies Must Comply for providing a secure bill payment channel.

The Online payment sector has proven to be a mass success with the highest customer acceptance and engagement. The rapid digital shift has provided the fertile grounds for the bill payment service providers. They are rapidly innovating technologies that provide a ubiquitous and contextual approach to the bill payment sector. many billers are collaborating with bill payment service providers to provide a balanced bill payment ecosystem to the customers. Vijayawada electricity bill payment is one of the many billers acquainted with the service providers.

But the innovative companies that are into the bill payment service are incurring the loss of up to Rs 10,000 crores every year as a victim to the raising frauds and unauthorized transactions. In the past years, fraudsters have stolen around 112billion dollars! Hence all the fintech companies must comply with the cyber hygiene rules that will help the companies gain trust from its customers and provides a secure bill payment channel for any multi-utility bill payment like Landline Bill Payment Online.

The online gas payment can be made more secure by following the security measures by the service providers. There are many security measures that need attention by the owner's discreet observation which will reduce identity thefts and unauthorized transactions! There are some security measures that deem to be important for minimizing fraudster activity.

SSL protocol

Any new website must comply with the SSL protocol that places https:// in front of the website and assures the website to be secure and all the credit card details be will be stored in a secure manner. Hence make the website with the SSL by acquiring the SSL certificate while buying a hosting and domain name. This will ensure in building a strong brand and gaining customer credibility for doing any financial transaction including the Airtel postpaid broadband bill payment that belongs to the bill payment sector.

PCI compliance

The PCI DSS ( Payment Card Industry Data Security Standards) provides an insight to the merchants about the sensitive data used in the payment process which requires the highest level of security. it insists on data encryption that converts data into an encrypted form during the payment process which must be secure from the hackers. The PCI compliance improves security and brand credibility along with creating a secure platform for Airtel postpaid bill payment.

Blockchain Technology

Blockchain technology has now become the backbone for the secure financial transactions that boomed to popularity of the bitcoins and cryptocurrency. This technology works on a distributed ledger technology that consists of chain of blocks connected together. Each one of these blocks is unique storing user data with the hash that is as unique as the human fingerprint. It also consists of the hash of the previous block and the customer data. Hence it is highly impossible for a fraudster to tamper the data.

Complying with these security hygienes will only provide the brand with more credibility, trust and creates a strong brand image for the company. One of the companies that comply with the security hygiene with respect to Blockchain is the first of its kind in India in the bill payment sector.

This technology is used by the XIPHIAS XPay Life Pvt Ltd, a start-up that is expanding the bill payment sector through a multitude of bill payment options through a mobile app, web, ATP kiosk, POS machines, and Mobile Vans. easy dth recharge can be done through any one of the above channels. The bill payment channels include cash, debit/credit cards, along with other popular modes of payment like the Net-banking, mobile banking, and UPI payments.

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.