Avenues India, the subsidiary company of Infibeam Incorporation Limited on Monday launched BillAvenue, an inter-operable digital bill payments platform. Built over the Bharat Bill Payment System (BBPS) infrastructure, BillAvenue enables service providers to accept bill payments from customers nation-wide, while also offering easily accessible bill payment facility to customers, both online and offline, the company said.
As per an RBI 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 largely unorganized and predominantly cash-dependent. It offers customers limited option of payment flexibility and is mostly restricted to either cash or cheque payments.
BillAvenue will offer a 'unified' bill payment platform for the entire country, the company said. 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, DTH and broadband. Gradually, this scope will be expanded to include several other types of payments. Under authorization from the RBI, BillAvenue 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 more than 1,20,000 agents operating under them.
Mohan Nair, Chief Marketing Officer said: "With the introduction of BillAvenue, we have made an important addition to the bill payments infrastructure in the country. It is a single and holistic platform for bill payments, paving the way for increased channels, platforms and payment modes. BillAvenue allows billers across India to offer e-payment facility to all their customers. Moreover, customers will now have the convenience of paying their utility bills online or through a network of over 1 lakh offline agents. BillAvenue is a highly scalable, robust and user-friendly platform that has been meticulously developed in-house. The initiative is in line with NPCI's goal of promoting electronic payments and will further accelerate the cashless drive in the country." He said the company aspires to get 700 utilities on board from current 60 in near future.
Avenues India is known by its flagship brand CCAvenue.