To meet the growing demand for digital payments, Mobile payment network MoneyOnMobile has launched Bharat Bill Payment.
Bharat Bill Payment is a Reserve Bank of India payment service, driven by National Payments Corporation of India (NPCI). It is a one-stop network for payment of all bills providing an interoperable and accessible “Anytime Anywhere” bill payment service to all customers across India.
The service will enable the users in meeting the rising demands for e-payment services among the estimated 600-800 million non-banked segment of India. It will cover a wide range of billers from electricity, water, and gas utilities, to mobile bills and television recharge.
“We believe the Bharat Bill Payment will help MoneyOnMobile continue to transform the cash experience for retailers and their customers. With such a large number of services being added, consumers can convert their cash into digital payments to access more of the vital, everyday services that make their lives easier,” said Harold Montgomery, CEO and Chairman, MoneyOnMobile.
While talking to The Banking & Finance Post on security concerns pertaining to digital payments, Montgomery of MoneyOnMobile added “Security is an important parameter considered by consumers before adoption of any digital based financial service. While organisations today give prime focus on building robust infrastructure with technologies like block-chain to provide safe and secure transactions, the government’s strict compliance policies have also helped maintain high-security standards in the industry. We at MoneyOnMobile follow stringent security protocols to offer the safest and secure platform to our retailers and their customers, thereby transforming their cash experience.”
