PhonePe, digital payments platform has announced today that it has onboarded 73 electricity boards (both public and private sector) across 28 states and 8 union territories in the country to enable more than 250 million PhonePe users to pay their electricity bills online on the PhonePe app.
Ankit Gaur, Director of Business Development, PhonePe said, “We have seen massive growth in the adoption of digital payments for electricity bills since we launched the category in 2016. In fact, there has been an over 40% increase in the volume of electricity bill payments in October 2020 over the corresponding period last year. It is also heartening to note that over 80% of our customers are in tier-2, 3, 4 cities and beyond indicating the widespread adoption of contactless bill payments.”
As a leader in digital payments, PhonePe has launched several innovative features to help in the adoption of the bill payments category. One such innovation is the ‘’Reminders” feature using which customers don’t need to remember the due date or fetch the hard copy of their electricity bills. Customers can make bill payments on the app based on a notification from PhonePe reminding them to pay. To make recurring bill payments convenient and friction-free, customers can also enable the AutoPay option on the PhonePe app. With AutoPay, customers need not worry about the due dates of their multiple utility bills or worry about incurring late payment charges. The due amount gets automatically debited from the customer’s chosen payment method every month.
PhonePe has over 250 million registered users who can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. The forayed into financial services gamut in 2017.