Though our government has announced relaxations in the lockdown. Many of us are avoiding crowded areas like shops, parks and neighbourhood stores to maintain social distancing in this critical scenario.
This is where a lot of companies are working to ease digital payments. The National Payment Corporation of India (NPCI) is urging Indian citizens to use digital payments to reduce social contact and reduce the chance of transmission of novel Coronavirus.NPCI and the State Governments are ensuring that more and more vendors of essential services are on the digital platforms. Below are 5 companies who are working with NPCI to ease the digital payments for the people:
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Xpay
Blockchain-based platform XPay. Life offers an array of digital payment services, including touch screen ATP kiosk, web, mobile app, POS device and others. The platform caters to both B2B as well as B2C segment. The company providing the highest level of transparency during transactions. It has partnered with leading banks to further expand its reach. XPay.Life has completed 1 Lakh transactions worth INR 5 Cr, since its beta version launch in 2019. In the last ten months, it also claims to have achieved 234% growth via web and mobile app. People can pay for their Electricity, Mobile recharges, DTH, Broadband, LPG, Loan EMI, etc. through the Xpay Life App and web version. Majorly serving rural India for easing Their payment woes, the platform has 253 billers across India with a wider reach to 50000+ pin codes in Tier 3 and Tier 4 cities across India.
CoinTab
Cointab is a mobile app which enables you to manage your money with ease – add bank accounts from 90+ banks and easily check account balance, transfer money to friends & family in real-time and request money from them. You can pay your credit card bills in real-time, do a recharge of your mobile/dth, and pay all of your utility bills from any of your bank accounts. You can easily view your Employee Provident Fund (EPF) data, balance, passbook. Its a simple and convenient way of banking
Cred
CRED is a members-only club that rewards individuals for their timely credit card bill payments by providing them with exclusive offers and access to premium experiences. It is a platform that allows credit card users to manage multiple cards along with an analysis of their credit score. Members with a high Experian or CRIF score are eligible for exclusive rewards upon payment of their credit card bills through the app. Among many of the features in the app is CRED’s credit card spend tracking and management feature which provided the user with analysis of spend tracking and efficiency of usage of the card.
Pay Nearby
Pay Nearby Technologies, a FinTech company, is offering financial/non-financial services to the underbanked and unbanked segment is on a mission to launch its own network of Micro ATMs.It operates on a B2B2C model, where they partner with neighbourhood retail stores who can offer Assisted Digital Financial Services like Aadhaar ATM, SMS Payment, Khata Service, Utility Payment, Prepaid Cards, Mutual Funds & Insurance, Money Transfer, Hyperlocal Services and payment services like Bharat QR and UPI using the PayNearby App. The company had recently tied up with National Payments Corporation of India (NPCI) and Equitas Small Finance Bank for this initiative.
Udaan
Udaan was launched in 2016 by former Flipkart senior executives Sujeet Kumar, Vaibhav Gupta, and Amod Malviya, Udaan connects small or medium-sized businesses (SMBs), manufacturers, wholesalers, traders, and retailers to sell goods and services to each other. The company also offers other services such as credit financing and logistics to connect manufacturers with retailers. Udaan is joining the brigade of UPI payments app with its QR-code based digital payments for retail outlets, restaurants and merchants.
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