Driven to make life simpler by providing a one-stop solution to the consumers to pay their multi-utility bills using a single window, XPay.Life, the latest offering from the XIPHIAS, has launched its operations in India. Powered by a blockchain-based transaction framework, the company offers a wide spectrum of digital bill payment services, including Touch Screen Kiosk, Web, Mobile App, POS Device and Mobile ATP Van. XPay.Life caters to both B2B and B2C segments.
Founded by Rohit Kumar (CEO) and Bohitesh Misra (COO & CTO), XPay.Life enables bill payment through Touch Screen ATP Kiosk, PoS machine and Mobile Van which accepts both cash and credit/debit cards as a digital method of payment. It is based on the AMBIC Model, which stands for Artificial Intelligence, Mobility, Blockchain, IoT and Cloud, to provide the highest level of transparency during transactions. This first-of-its-kind FinTech company also offers ‘one-click’ processing for transactions across all digital channels.
“While India’s FinTech sector has witnessed unprecedented growth, the adoption of FinTech services remains only restricted to the urban centres. With XPay.Life, we aim to change this and bring the benefits of digital payments to the unbanked pockets of the country. Our touch screen kiosks are targeted at the rural population, whereas the mobile app and website cater to the urban Indians. The idea behind the inception of XPay.Life was simple – to drive digital empowerment for new-age India. From a business perspective, we have achieved 100% month-on-month growth in the last 10 months,” Kumar said.
Through the Mobile Vans, XPay Life is aiding rural development, creating employment through VLE (Village Level Entrepreneur) and rural financial inclusion in the digitization of PAN India.
Incorporated in 2019, XPay.Life has completed 1 lakh transactions in the beta version, which is worth INR 5 crores. In terms of geographic presence, the company offers services across 18+ cities in India with 50,000+ pin codes.
“We have partnered with all leading banks to further expand our reach. The deployment of the ATP kiosks at ICICI ATMs has created a new benchmark. Moreover, the prototype of the Mobile Van consisting of the ATP kiosk, Vending machine and mini-ATMs is already facilitating bill payments in remote villages and creating ripples in the bill payment industry,” added Kumar.
A cornerstone of XPay.Life’s plans for the future is to deploy services for 253 billers at their collection points through the ATP kiosk and PoS devices that aid in queue clearing. The company also aims to deploy 1 lakh ATP Kiosk, PoS devices and Mobile Vans across tier-III and tier-IV towns in the next 3 years.