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 Bill
Junction, a bill payment vortal was
launched in Pune as a part of its strategy
to expand to emerging markets in the country.
Now Pune residents can avail of the facilities
of this vortal, which offers universal bill
presentation and bill service- an easy and
secure way to pay bills over the Internet.
Mr B Sen the CEO of the company
at the launch said, "We have received
very encouraging response from Mumbai, Delhi
and Kolkatta and now we are delighted to
offer this service to the residents of Pune.
We see this initiative as a strong facilitator
for payment of routine and recurring bills."
Billjunction.com has tied up with five
major billers in Pune making it both beneficial
to billers and customers. They include,
Birla AT& T and BPL Cellular, the leading
cellular service providers, MSEB, the leading
power generation and Distribution Company
and Satyam Infoway, the ISP service provider.
Overall the company has tied up with 32
billers.
According to Mr. Sen, The key value presentation
of Bill junction is that it does not require
a customer to open a bank account in any
specific bank to avail of the facility.
The vortal uses RBI’s Electronic
Clearing Service ( ECS) mechanism to enable
bill payments. Thus it brings together various
banks and utility service providers on the
same platform to provide world-class service
to customers. In Pune, State Bank of India
shall act as the clearinghouse for bill
payments.
A registered user gives the vortal the
mandate to collect the money from their
bank account and pay the utility company
using the Electronic Clearing Service (
ECS) of the Reserve Bank, thereby saving
the consumer the trouble of standing in
long lines.
27,000 customers had already signed up
to avail of the facility across the three
cities.
 The
company is banking on Internet penetration
in the country and, interestingly, offering
this net based service irrespective of which
bank the consumer is having an account with.
Mr. Sen said that they would initially concentrate
on the metros and mini-metros, as a large
chunk of the country's net users reside
here.
To avail of this facility, customers need
to enroll, after which they are given a
mandate. The account is verified and then
bill junction is in a position to pay the
bills.
The company will earn its revenue by charging
a transaction fee from both the biller and
the consumer. After an initial free offer
for 3 months, the users will have to pay
a fee of Rs. 5/- per transaction, Mr. Sen
added.
Mr. Sen also said the company will also
promote the service with the banks once
they offer online banking to their customers.
Bill Junction will act as a delivery mechanism
for the bill payments of the banks account
holders.
For More information- click www.billjunction.com
By - Rahul Surkund
Photos - By Hari Krishna.
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