Digital payment solution PayPhi has started the digital payment solutions for HP Gas cylinders where consumers can make payments using Aadhaar, UPI or BharatQR.
“Paying for LPG cylinders with cash has for long been a pain point for consumers, gas agencies, and also for the OMCs. Now consumers do not need to keep cash at home waiting for the time of cylinder delivery and gas agencies do not need to waste time and effort in reconciling cash. We believe this has the potential of spreading the digital payments wave to millions of people from India’s interiors and this is what will help create the next wave of digitally empowered citizens,” says Jose Thattil, Co-founder, and CEO of Phi Commerce.
Cashless payments will not be restricted those who have cards, wallet and access to net banking but to anyone who has a bank account.
The solution does away with need of mPOS as it is tightly integrated with the HP Gas delivery application.
To make payments consumers have to simply provide their Aadhaar number and finger print at the time of delivery.
Fiscal year of 2016-17 witnessed a record growth of 9.8 per cent in LPG sales. As many as 111.3 crore cylinders were sold in 2016-17. The subscriber base in rural India is expected to swell further with the success of Government of India initiatives like the Pradhan Mantri Ujjwala Yojana. Given the vast scale, this initiative heralds opportunities for these citizens of Bharat to start adopting digital payment methods into their daily lives and reduce digital payments divide between urban and rural India.
PayPhi is an omni-channel platform that incorporates all the elements that make payment solutions easy, effective, and instant. The platform provides deep integrations into the systems of all the stakeholders – consumers, merchants, e-tailers, banks, and delivery and logistics companies.