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.
The digital payment landscape in India has seen its avalanche growth in the past decade supported by the conducive infrastructure, encouraging regulations and rapidly advancing technologies. The non-cash transaction volumes have spiked up leading the whole dynamics of the digital payment industry, this growth trajectory towards the digital has provided the Fintech industries to grab the market share from the cut-throat competition.
As per the study, the Compounded Annual Growth Rate(CAGR) of 12.7 percent is evident with the thriving adoption of the digital platform from the year (2016–21). These numbers are expected to reach a whopping growth reaching 28.8 percent by 2024 in Asian countries including India.
The smartphone penetration has reached 27.7 percent this year and the Government E-payments Adoption Ranking(GEAR) is expected to reach rank 28. These analytics only depict the immigration of the Indian consumers towards the National campaign “Digital India”, a dream project under PM. Narendra Modi’s Government. According to this every citizen will be shifting to water bill payment online and become digitized.
Many companies are boarding the digital market to work under the government which has established many policies to aid the shift towards digital payments. A significant acceptance of the digital modes for financial transaction from the payment providers, merchants and consumers is ridden on various factors such as Government sided policies like incentives, subsidies, and government initiatives. The business model is well structured compelling the users to sustain on the platform with factors such as convenience and user-friendly platforms.
With the digital market penetrating into the daily lives of the citizens has changed the living standards of the Indian people. Attractive offers such as DTH Recharge Offers Today and Gas bill payment offers are retain tactics used by digital players. This has also seen significant retention in the technology.
But on the contrary, there is a staggering difference in the adoption of the digital landscape between the quantum of educated, smartphone urban users and the less aware of, remote agricultural players of real India. To affirm this sentence, the recent research by the Google BCG report has reported that 80 percent of India is untapped with the evolution of digital payment modes such as QR codes, NEFT, PoS devices, UPI payments, etc. This only has seen the inability of the Fintech companies to reach beyond the urban boundaries and see India as a whole and achieve digitization.
There is one significant company XIPHIAS XPay Life Pvt Ltd which is compelling the genius heads of the government to think beyond and help in pan India digitization. It provides a platform that has a website, application which is known as Best bill pay app for Android and iOS, PoS machines as payment modes.
Additionally, this company has understood the basic growth gap in adoption of the technology. It was the habit and comfort of using hard cash by the people. Indians have always been accustomed to using cash as the only payment mode after the barter system. Any new technology is only been scrutinized by the accustomed eyes of rural India. In an attempt to close the digital gap, XPay.Life has provided infrastructure in the form of ATP bill payment kiosks that accepts cash for bill payment and thus making the transaction digital. These kiosks will be placed in mobile vans which are strategically roamed in the rural areas providing the facility to convert the majority of India to a digital platform.
Electricity bill payment without registration is one beneficial while making a payment through Xpay.Life website which increases convenience of usage without having to register for the website.
The mobile payment revolution in India has increased significantly with the increase in the number of merchants accepting digital modes of payments. From a relevant 1.5 million in 2016–17 to a significant rise over 10 million in just a span of three years has been a milestone. PoS devices have estimated a CAGR of 54.2 percent from 2019–23. The Quick response code acceptance has been on an ever-rise for the last five years. Landline Bill Payment Online is successful done and continues to be an accustomed mode of bill payment. This is said to be a trending milestone for accepting digital acceptance beyond the perceived prepositions by the market surveyors. If the growth trajectory is seen increasing in a similar manner for the next few years. It is no doubt that India will be a leading developed digital country in the world.
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