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 payments have been on a rapid rise post-demonetization which has led to more innovations and regulatory policies to head up. The alternative modes of payment while making Landline Bill Payment through the smartphones and the other infrastructures became popular when there was a sudden curb in the physical cash circulation in India. November 2016 saw one of the most revolutionary phenomena in the economy with honorable Prime Minister Narendra Modi implementing the Demonetization. IT was with an upfront purpose to mitigate corruption and terrorism in the country. It also paved the path for the early and rapid adoption of the digital modes of payment.
As the digital adoption was made by the banking sectors that initiated the thrust for the digitization in India, by offering various non-cash methods for bill payment services across India. Even the non-banking entities like the payment service providers backed up with the highest technological infrastructures and the innovations started forming a ubiquitous and secure payment system for online water bill payment. Hence the digital adoption is bound to reach the epitome of successful adoption by combining the best of both the worlds. The thrust from the banking sectors and the innovations from the non-banking sectors. The bill payment sector has witnessed a high rate of customer acceptance.
Also, this customer-centric approach provided with the single, unified, secure payment eco-system is making the country digitally empowered. It is [proved y the increase in the payment infrastructure like RTGS, NEFT, IMPS, BHIM UPI, card networks, PoS, BQR, ATMs, NACH, ECS, Mobile Wallets, APBS and AEPS. To this list, which is highly focused on empowering India digitally by providing Airtel Broadband Bill Payment Online facility. But the Tier 2, 3 cities and rural areas were highly under-tapped. Hence the Mobile Vans is another innovation by XPay Life that is revolutionizing the bill payment sector and aiding in the rural inclusion in the digitization process.
The mobile vans are equipped with the ATP kiosks, mini-ATMs, and vending machine. ATP kiosk accepts cash as a digital payment mode along with credit/debit card payments. Also, it is focussing the creating awareness through the Television that is fixated on the side of the van for public display. This will showcase the government schemes that will aid in empowering and creating digital awareness and other government programs through this. Hence bridging the gap between rural and urban India. This is aiding in the panaji electricity bill payment from the remotest geographies of India.
Even though there is high customer acceptance in the tech-savvy urbanites, cash still plays a major role in the transaction economy. The limited financial service offerings, the complex infrastructures, and the interchange fees are one of the main factors for the less merchant onboarding. In This case, cash is a universal payment devoid of complex OTPs, doubtful security concerns and no KYC and authorizations are required. Nor is the concern related to internet connectivity is prominent here. Hence people mostly prefer cash payment while making dish tv recharge.
Also to increase consumer confidence in the digital payment platform, there are many security regulatory policies made by the government. very recently the government of India along with RBI decided to make a Self-regulatory organization by April 2020 which is going to monitor and get the much-needed security in the digital space while making any transaction like the Gas bill online payment, peer-to-peer transaction etc. This will enhance digital acceptance in India. Also using technologies of the future like blockchain technology for the security purpose is gaining traction in the fintech Industry thus aiding in the secure payment ecosystem in India.
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.
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