Best Payment Technology/Solution Provider Campaign 2018
Bill Avenue is India’s fastest growing BBPS based bill payment engine listed amongst other SaaS solutions offered by Infibeam Avenues Ltd. In a very short span of time, their company has evolved from a green shoot into a strategic business unit thereby grabbing our attention with the successful take-away of the SKOCH Certificate of Merit in 2017. After having proved themselves to us formerly, they are now encouraged to take it on further and showcase their progress by seizing the SKOCH Corporate Excellence Award for 2018.
To justify its worth, Bill Avenue has developed bill payments into an easily accomplishable task for millions of utility consumers across the country. The company has on-boarded 3,00,000+ agents who can be approached at their point-of-contact for instant bill payments. Furthermore, Bill Avenue has simplified the bill payment process for both the billers as well as the customers through direct payment methods that can be executed online as well as offline. They have also contributed to India’s digital payment drive by enabling multiple online payment collection channels for customers. To add, Bill Avenue presents a powerful revenue generating proposition to last mile agents, which indirectly contributes towards development of the country’s economy through the Bharat Bill Payment System.
Infibeam Avenues Ltd. is India’s leading B2B e-Commerce Solutions provider offering end-to-end e-Commerce software and payment solutions through the internet to small and large merchants, enterprises and the government. The Company caters to customers across business verticals and includes many of the most established brands in India and internationally. It is also India’s first e-Commerce and Fintech company to be listed on the National Stock Exchange of India and to file an IPO.
The Bharat Bill Payment System at Bill Avenue offers the most innovative and convenient bill payment solution that not just minimizes time consumption but also makes the entire payment process very secure and free from errors. Earlier the bill payment industry was not organized as there was no single bill payment platform that accommodated multiple billers. The unified platform of Bill Avenue adopts new and advanced technology to support standardized bill payments for all utility billers.
Another prominent feature of their innovation is the customer complaint management system. Previously, it was quite a tedious task to lodge a bill payment related complaint whereas now a customer can directly register a complaint with the nearest available agent, as well as online and get quick response from the BBPS system.
Billers are now assured a guaranteed settlement. They receive their payments directly into the bank account without any hassle of losing funds to intermediaries. Walking up to bill payment centers and attending long queues was a very cumbersome task for the customers. However, now customers can make their bill payment even while shopping at a grocery store, as they have multiple point-of-contacts for direct interaction with a BBPS agent. Also, those who are not internet savvy can use these facilities at their discretion.
Bill Avenue connects the customer with the last mile agent who accepts the bill payment. Earlier rural areas had very few Bill payment centers and that’s why most of the customers had to travel long distances to remote locations for paying their bills. Ever since Bill Avenue started appointing Collection Agents, the number of bill payment centers has increased tremendously. People can now pay their bills almost anywhere in their own region or locality. Their platform deploys a staggering 3,00,000 plus agents with simplified solutions to serve utility consumers across the country. Due to availability of online channels and thousands of BBPS agents, the customer can now make his bill payment on time.
Some of the key benefits of Bill Avenue:
Details of Bill Avenue’s Users:
Other targeted segments include the urban population where online payments are popular, Tier II and Tier III cities, and population based in the remote areas of the country where cash payments are accepted by agents on behalf of the billers.
For Agent Institutions (AI), they target Small Banks and other non-banking entities who currently offer bill payment or aggregation business and have not received In-Principle approval from RBI to become a BBPOU. Also, other businesses who seek to operate and earn as bill payment collection agents in their own small town or region can collaborate with them and become BBPS Bill Collection Agents.
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