Chandigarh, Apr 13 (PTI) Fintech startup XPay.Life, which provides utility bill payment solutions, on Wednesday said it plans to offer UPI and other services to its users.
“We are going to launch our UPI on June 10. In the future, we are also coming with small micro finance and loans etc.,” Rohit Kumar, founder & CEO of XPay.Life, said.
The company, which is gradually expanding its footprint across various cities, announced its expansion plans in Punjab.
The company said it will focus on providing opportunities to local entrepreneurs especially at the village level. The digitisation will take place in three methods using the blockchain technology.
The first method is through point of sales machines where customers can pay their bills through any mode of payment, be it cash or UPI, said Kumar.
In the second method, touch-screen kiosks are deployed at strategic locations.
The third option, which is the most innovative one, is the bank-on-wheels where instead of getting the customer to come to the counters of banks, the services will now travel to the customer, he said.
“We work very closely with NABARD. At present, we are working in more than 14 states all over India. We have covered more than one lakh villages so far,” he said. Replying to a question, Kumar said, “We have done almost Rs 70-80 crore of transaction of bill payment in two years during lockdowns.” In Punjab, he said the company has tied up with the state’s power department.
“We are going to deploy our mobile van with them,” he said.
The XPay.Life mobile van will travel to the locations of the customers on select days of the week, enabling payment through both touch-screen kiosks and mobile PoS installed inside the van.
Till now XPay.Life has deployed more than 100 vans in different states. All the machines inside the mobile van are powered by solar energy.
Kumar said, “Our aim is to make life simpler with secure transactions and innovations. This is the beginning of our initiatives towards supporting a financially inclusive digital India, and we look forward to introducing more new offerings in the near future to further enable this initiative.” Deepak Ananth, COO of Xpay.Life, added, “We are excited about our unique offerings for the Punjab region and are looking to go deep into this market, simplifying payments and more financial transactions for the general public. Along with our partners and technology, we aim to bridge the gap of financial inclusion and truly digitise various financial offerings.” PTI SUN HVA HVA