Bill Payment Revolution In India

As the cash circulation started picking up pace post demonetization in late 2017, digital payments like Bill payment online did take a down track, and the ‘currency in circulation’ increased to 19.5 lakh crore rupees (as per RBI). Other alternative modes of payment, especially digital payments through the UPI, debit/credit card, have grown steadily for the past many years, however, the adoption is still slow but steady. Due to lack of infrastructure, connectivity, digitization has taken a back seat.

India is a cash-dominant country that revolves all the financial transactions through cash where the banking sectors had a prominent part to play. As all of the finical transactions, loan provision, frequent withdrawals and debit and more business. The bank sector flourished.

Then in the 1980–1990, the digital payment mode infiltrated to replace the traditional cash. The introduction of Electronic clearing service and electronic funds transfer created a new wave in the cash-dependent society. The banks flourished even more with the issuance of bank customized debit and credit cards. Best electricity bill payment was done by withdrawing the cash from the banks and reaching out to the collection points. 

Few years down the lane, the card system had improved and ATMs were immediate go-to for the immediate cash withdrawal. In the years 2000–2005 unique secure fund settlements were introduced, Real Time Gross Settlement(RTGS) and net banking became popular with the internet penetration into the society initiating the National Electronic Funds Transfer(NEFT) system. Broadband postpaid bill payment now was done through the internet.

The immediately followed by the Payment and Settlement Systems act In the year 2006 that led to the launch of the AADHAAR- a unique biometric program for identification that provided Indian citizens a unique common identification.

By the year 2011–14 saw the myriad of changes in the way cash payment was accepted and digital solutions were much preferred. 

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 where people can avail banking facilities without the internet or the smartphone infrastructure to pay my water bill

Next was the demonetization phase that Prime Minister Narendra Modi declared. The cash circulation was reduced to only 14%. This was when there was a digital revolution that provided then there was a revolution in how the financial transactions were perceived. The mobile payment service providers invested in the fertile grounds and aided in the revolutionizing the bill payment sector.

XPay Life also offers the best mobile payment app that is built on the most secure blockchain technology which is the prime technology that the crypto currency like the bitcoins are built upon. Also it provides the user-friendly platform that facilitates easy navigation through the application and also provides lucrative offers and discounts on the mobile bill payments that is done for the recurring bill payments like multi-utility bill payments and the Tax, Mobile prepaid, school fees and more. All the payments through this platform is BBPS assured and hence providing the credibility for making the payment through the platform.


Government regulations also catalyzed the growth of digital acceptance in the country. XPay.Life is one such digital service provider for bill payment with a broader vision towards the rural inclusion in digitization mission. It has facilitated 360 degree payment solution catering to both the rural and urban sectors and hence bridging the socio-economic gap between the two. the 20% urbanites pay Big tv online recharge through its website and Mobile App. It also facilitated bill payment through ATP kiosk, Mobile Van and PoS machine. Hence solving the generation-long problem of rural inclusion in the digitization.