After the success of CCAvenue, the online payments platform, Avenues India, the subsidiary of Infibeam Corporation Ltd has launched BillAvenu, an inter-operable digital bill payments platform built over the Bharat Bill Payment System (BBPS) infrastructure.
It enables service providers to accept bill payments from customers nation-wide, while also offering easily accessiblebill payment facility to customers, both online and offline.
As per an RB estimate, over 30,800 million bills amounting to Rs.6223 billion are generated every year in India’s top 20 cities alone. However, the bill payment infrastructure in the country is largelyunorganized and predominantly cash-dependent. It offers customers limited option of payment flexibility and is mostly restricted to either cashor cheque payments.
BillAvenue was introduced with an aim to address this issue and offer a ‘Unified’ bill payment platform for the entire country. It offers an ‘anytime, anywhere’ bill payment facility via multiple payment modes and channels, with instant confirmation of payment. BillAvenue currently covers payments for utility services such as gas,water, electricity, mobile postpaid, DTHand broadband. Gradually, this scope will be expanded to include several other types of payments.
Under authorization from the RBI,BiIIAvenue has been building a series of strategic partnerships with billers as well as with Agent Institutions across the country to offer an end-to-end bill payment solution. On one hand, BillAvenue collaborates with billers to fetch bills and digitizes them for electronic presentment to the customers. Further, to complement these efforts, BillAvenue on boards agent institutions that offer numerous customer touch points for bill payments at a local level. Currently, BillAvenue is fetching bill payments through its agent institution partners who have a network of 1,20,000+ agents operating under them.