Digital India: How Technology is Transforming Payment Ecosystem

Bill Payment online

With technology, digital capabilities are improving, making life more convenient, especially for Bill payment in India. As per reports provided by McKinsey & Company, India’s Digital Adoption Index covers three elements for becoming a digitally advanced country:
·         Digital Foundation (cost, speed, and reliability of internet service);
·         Digital Reach (number of mobile devices, app downloads, and data consumption), and
·         Digital Value, (how much consumers engage online by chatting, tweeting, shopping, or streaming)

These statistics of these key elements show that India is digitizing faster, providing an option to pay the bills through most secure means. Customers can now pay their bills through Best electricity bill payment provider.
We have covered a journey of carrying cash into our wallet to not carrying any wallet at all.
People are no more skeptical about making payment online, thanks to the technology which has simplified the processes by making it more transparent. With all of the advancements, fintech companies are ensuring that they’re one step ahead of the fraudsters and making payment most safe and secure. No matter, if you want to make online Postpaid mobile payment or you want to pay in cash, all the mediums are available.
BCG Google reported Major Trends Transforming Digital India
India currently ranks #2 in the world with over 1 billion mobile subscription.

Approximately, 240 million consumers use smartphones and this base is projected to increase to over 520 million by 2020.

With increased 3G and 4G penetration in the remotest parts of the country, people are encouraged to use digital payment.

National and International Players have recognized the opportunity in India and are creating services tailored to its consumers and unique operating conditions.

XPay.Life is one of the most trusted names in the Fintech that provides one stop solution for multi utility bill payment, enabling every citizen to pay their different bills under the same window. In collaboration with NPCI and Bharat Bill Pay, XPay.Life is providing multi-utility bill payment. Right from paying Electricity, Water, Gas, Mobile, Broadband, Landline bills to Recharge DTH Online; XPay.Life offers all the solutions to pay through Touch Screen Kiosk, web, mobile app and POS device.

To clear all the doubts of consumers regarding secure payment, XPay.Life has integrated most safe and secure payment gateway, which is based on Blockchain enabled Transaction Framework. In the traditional form of payment, bank has all the authority and information about the payment, which creates a sincere trust breach but with Blockchain based Payment, each and everything is completely secure.

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