Latest news with #BharatBillPaymentSystem
Business Standard
02-08-2025
- Business
- Business Standard
From Bhubaneswar to Bharat: How hitch Is Empowering Small-Town India Through Digital Payments
New Delhi [India], July 31: In the vibrant city of Bhubaneswar, a dynamic fintech revolution is reshaping how India manages financial transactions. At the forefront is hitch, a platform launched in 2022 by 19-year-old visionary K. Sambid Kumar. Operating under Kottakota Business Development Pvt Ltd, hitch is transforming the financial landscape by offering seamless, rewarding, and secure solutions across all market segments—urban, semi-urban, and rural. Starting from Tier 2 cities and now competing with well-funded players, hitch prioritizes customer trust and convenience, ensuring financial services are accessible and beneficial to all. Navigating India's Diverse Payment Landscape India's digital payment ecosystem is booming, driven by widespread smartphone adoption and initiatives like the Bharat Bill Payment System (BBPS). However, challenges like limited banking access and varying levels of financial literacy persist across markets. hitch addresses these with a user-friendly app that simplifies bill payments, FASTag recharges, and rent processing via credit cards using Instant Money Transfer (IMPS). By integrating with BBPS, hitch ensures utility bills, insurance premiums, and other payments are accessible with a tap, delivering convenience and trust to users nationwide, from bustling cities to remote towns. Rewarding Transactions with Added Benefits hitch stands out by making every transaction rewarding. 'Tired of paying bills without perks? hitch is here to change the game!' declares their website, offering guaranteed cashback on every payment and a D2C prepaid card with exclusive benefits for end users. From mobile recharges in metro cities to rent payments in smaller towns, hitch's instant cashback, referral rewards, and prepaid card benefits turn routine transactions into opportunities for savings. Till date hitch has processed over 30,000 crores, reflecting its widespread appeal across India's diverse markets. Building Customer Trust and Convenience Financial inclusion hinges on trust and ease of use, and hitch excels in both. With robust encryption and partnerships with regulated fintech giants like M2P Fintech, Bajaj Finance, and Axis Bank, hitch ensures secure transactions that inspire confidence. Its intuitive design and ease of operations make it a preferred choice, offering services at lower costs compared to other players pan-India. A Bhubaneswar resident shares, 'hitch has revolutionized how I manage my finances! From rent to maintenance, it's seamless and trustworthy.' Another user, a busy professional, adds, 'I can bank confidently anytime, anywhere, with unmatched convenience.' An All-in-One Solution for Every Indian hitch's streamlined platform is a game-changer, consolidating bill payments, FASTag recharges, and rent processing into a clean, user-friendly interface. This simplicity is crucial across markets, where digital literacy varies. Whether it's a shopkeeper in Sambalpur or a professional in Gurugram, users can manage payments effortlessly without navigating complex banking portals. The app's instant rent processing via credit card, powered by IMPS, eliminates delays, offering unmatched convenience for tenants and landlords alike. The D2C prepaid card further enhances user benefits, making financial management rewarding and accessible. Amplifying Impact Through Community Engagement hitch's referral program drives growth by leveraging community trust, a key factor across urban and rural markets. By incentivizing users to invite friends, hitch creates a ripple effect, bringing more people into the digital payment ecosystem. A user in Rourkela or Delhi might refer hitch to a neighbor or colleague, earning rewards when they pay their electricity bill or recharge their prepaid card. This peer-to-peer model accelerates financial inclusion and fosters community empowerment, making digital payments a shared, rewarding journey. A Visionary Leader Competing with Giants Founded by K. Sambid Kumar, hitch embodies the ambition of a new India. Starting in Tier 2 cities, it now competes with heavily funded players, proving that innovation can thrive anywhere. The company's mission—'to empower users by providing innovative, secure data validation and financial services'—resonates across all markets. As one user notes, 'Earlier, I had to wait hours for funds to transfer. With hitch, it's a matter of seconds. A must-have on the phone!' The platform's ease of operations and cost-effective services set it apart in the competitive fintech landscape. Powering an Inclusive Digital Future As India aims for a Rs. 5 lakh crore economy, platforms like hitch are vital for inclusive growth. By offering secure, rewarding, and convenient financial services, including the innovative D2C prepaid card, hitch empowers millions across urban, semi-urban, and rural India to participate confidently in the digital economy. From Bhubaneswar to every corner of Bharat, hitch is proving that the future of finance is universal, accessible, and built on trust.
The Hindu
30-07-2025
- Business
- The Hindu
Bescom ATP machines to be discontinued from Aug 1
The Any Time Payment (ATP) machines, which were installed in Bangalore Electricity Supply Company (Bescom) sub-division offices for payment of electricity bills will be discontinued from August 1. The kiosks, which used to be widely used for payment of bills, were shut down in 2015 after other modes of payment kicked in. However, following public demand, ATP machines were reopened in 2017 with the number of kiosks being increased from 117 to 217. Now, there are several ways to pay electricity bills, along with the Bescom website and the Bescom Mithra app. The bill payments can also be made using Spot Billing Devices, Bharat Bill Payment System (BBPS), NEFT, and ECS (Electronic Clearing Service) and UPI platforms. 'Customers can continue to pay their electricity bills through cash payment counters at Bescom sub-divisional offices, Bangalore One, Karnataka One centres within Bescom's jurisdiction, and online payment methods such as the Bescom website and the Bescom Mithra app,' said Bescom officials. Further, an official of Bescom said that the contract period of ATP machines had come to an end and with the mode of payment not being widely used, it did not make fiscal sense to continue them.
United News of India
07-07-2025
- Business
- United News of India
Federal Bank powers digital donations at Guruvayur Sri Krishna Temple
Kochi, July 7 (UNI) Federal Bank has announced the successful enablement of digital donation payments for Guruvayur Sri Krishna Temple, marking a historic milestone as the first temple in Kerala to go live on the Bharat Bill Payment System (BBPS) under the 'Donations' category of NPCI (National Payments Corporation of India). This integration now allows devotees to make offerings through any UPI-enabled app, including Federal Bank's Mobile Banking App, GooglePay, PhonePe, BHIM UPI, and more. The facility offers a safe, seamless, and convenient way for devotees across the globe to participate in temple donations - anytime, anywhere. Speaking on the initiative, M V S Murthy, Chief Marketing Officer, Federal Bank said, "We are honoured to be part of this significant step in the digital transformation of temple donations. Guruvayur Sri Krishna Temple now becomes a pioneer in Kerala by embracing a platform under BBPS." "Technology makes in convenient to express gratitude. The human at the core, is supported by digital at the fore.' O B Arun Kumar, Guruvayur Devaswom Board Administrator said, 'We are happy to be the first temple in Kerala to have embraced this technology to enable all devotees from across the world to offer their offerings from anywhere in the world to Guruvayur temple on special occasions or new beginnings.' This collaboration not only modernizes religious contributions but also reflects Federal Bank's commitment to making digital banking accessible and meaningful across all sectors, including India's revered cultural and spiritual institutions. UNI DS SS
&w=3840&q=100)
Business Standard
26-06-2025
- Business
- Business Standard
Pine Labs files DRHP with Sebi for IPO; to raise ₹2,600 cr via fresh issue
Temasek and Peak XV Partners-backed Pine Labs has filed preliminary pape₹ with capital markets regulator Sebi to mobilise funds through an initial public offering (IPO). The IPO is a combination of fresh issuance of equity shares worth ₹2,600 crore and an offer for sale (OFS) of more than 14.78 crore shares by investor selling shareholders, according to the draft red herring prospectus (DRHP) filed on Wednesday. Under the OFS, Peak XV Partners, London-based Actis, PayPal, Mastercard Asia/Pacific, Temasek through Macritchie Investments, Invesco, Madison India Capital, MW XO Digital Finance Fund Holdco, Lone Cascade LP, and Pine Labs co-founder Lokvir Kapoor will be divesting their shares in the fintech firm. The company plans a pre-IPO placement of shares aggregating to ₹520 crore. If the pre-IPO placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the tune of ₹870 crore will be used by the company to repay debt and ₹760 crore will be used for investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of digital checkout points. The company will use funds worth ₹60 crore for investment in its subsidiaries such as Qwikcilver Singapore, Pine Payment Solutions, Malaysia, and Pine Labs UAE for expanding the presence outside the country, and the balance for general corporate purposes, and unidentified inorganic acquisitions. Noida-based Pine Labs is a technology company focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions. For the fiscal ended December 31, 2024, it has processed paytments worth ₹7,53,105 crore in gross transaction value and 3.97 billion transactions through its platforms. The company had more than 9.15 lakh merchants, 666 consumer brands and enterprises, and 164 financial institutions, who used its platforms to enable transactions quickly, securely and easily manage their business. According to the Redseer report, Pine Labs is one of the top five in-store digital platforms, and a prominent Bharat Bill Payment System transactions processing solutions provider in FY24. The company competes with the likes of Paytm, Razorpay, Infibeam, PayU Payments, PhonePe in the domestic market and Adyen, Shopify and Block in the overseas markets. For the fiscal ended December 31, 2024, the company reported a revenue from operations at ₹1,208.2 crore and profit after tax at ₹26.14 crore. The shares of the company are proposed to be listed on the BSE and NSE. Axis Capital, Morgan Stanley India Company, Citigroup Global Markets India, JP Morgan India, Jefferies India are the book running lead managers while KFin Technologies is the registrar for the IPO.
Business Standard
14-06-2025
- Business
- Business Standard
BillWizz: India's First Zero Convenience Fee Payment Platform Gains Momentum
PNN New Delhi [India], June 14: In a time when nearly every digital payment includes hidden convenience fees, the average Indian consumer ends up paying more than just their bills. From utility recharges to mobile payments, a silent cost is often passed onto users -- all in the name of convenience. This growing frustration has made consumers question why paying a bill digitally should come at an extra price. Digital payments in India have grown at a record pace, especially post-pandemic. But as the ecosystem becomes more commercialized, platforms have started charging service or convenience fees ranging anywhere from ₹5 to ₹35 per transaction -- a practice that silently eats into household budgets. For everyday users, especially those from Tier 2-3 towns, such repeated fees can feel like a tax on being tech-savvy. That's where the conversation around zero-convenience digital transactions begins. As Indian users become more financially aware, there's rising demand for a bill payment system that's transparent, quick, and affordable -- without the added cost. The solution? A model where platforms earn from billers, not from customers. BillWizz tried to solve this issue. It is a smart platform developed by TABLINK SOLUTIONS PRIVATE LIMITED, built on this very idea. Rather than charging users extra, BillWizz earns its revenue from billers -- giving users a fee-free experience on payments like electricity, water, DTH, mobile recharges, and even Google Play recharges. It's a shift that mirrors what customers truly want: digital convenience without a hidden cost. Why should managing bills cost more than the bill itself? With zero service fees, real-time updates, and auto-scheduling options, BillWizz is rethinking the everyday payment experience. Users can recharge, pay, and manage utilities all in one place, with added perks like cashback rewards and referral bonuses. BillWizz is already serving over 50,000 users, and integrates with Bharat Bill Payment System (BBPS) -- reinforcing its alignment with India's Digital India mission. Unlike many payment apps that lean on flashy marketing but pass charges to users, BillWizz focuses on making affordability its core product feature. But building a zero-fee model hasn't been easy. Convincing billers to collaborate, ensuring bank-grade security, and earning consumer trust -- these were major hurdles. Yet, BillWizz overcame them through a clean interface, strong encryption, and a promise of "no hidden cost, ever." As a result, it's now growing faster through word of mouth than ad spends. India's digital consumer is evolving -- they want unified platforms, secure automation, and zero-friction payments. BillWizz is not just adapting to these trends but shaping them. It is especially popular among budget-conscious users, freelancers, and working professionals who manage multiple payments monthly and can't afford to lose ₹100-₹200 every month in fees. Looking ahead, the company plans to onboard more billers, introduce personalized dashboards, and expand its service offerings. With a goal of reaching over 5 lakh users, BillWizz aims to turn everyday bill payments into a smarter, cost-free routine, not a burden. About BillWizz BillWizz is a digital bill payment and recharge platform developed by TABLINK SOLUTIONS PRIVATE LIMITED, designed to eliminate hidden convenience fees. Based in India, BillWizz integrates with BBPS and supports electricity, water, DTH, gas, and mobile recharges -- all without charging users any extra cost.
