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UPI- The Big Deal!

Paying utility bills on time like electricity and water is essential for all citizens so that the necessities of life continue smoothly. After all, you need an electric supply to live a comfortable life, and water bill payments are so important for an uninterrupted supply of water to meet your daily requirements.

Every state has a single or multiple electric suppliers in India, with most of them being state-owned. For example- West Bengal State Electricity Distribution Company Ltd. (WBSEDCL) supplies electric power to almost 96% of the state of West Bengal in the eastern part of India. Committed to supplying uninterrupted and quality power to all, WBSEDCL is hundred percent owned by the West Bengal State Electricity Board.

Paying electricity bills

Remember those days, about a decade back; when paying for electric bills in your region, you needed to stand in long queues in front of the payment counter for hours before your turn would come. Not just sweating it out in the sun and rain for long hours, you also had to deal with the clerical staff at the counters that invariably added to your woes. Many would need to take a day or a half-day off to have the bill payment done, while many others who could afford the luxury would send in their domestic help or drivers to stand in the serpentine queues and beat the heat.

Luckily for us, things changed drastically when state electricity boards across India started to accept online payments. They offered us options to pay online via our credit cards, debit cards, net banking, or UPI payments. With digitalization at its peak now, it is a sheer joy to sit in the comfort of your indoors, and with a few simple clicks of your smartphone, you can pay the electricity bills using your third—party payment apps. Most of these apps work using the Unified Payment Interface method.

UPI Payment AppUPI is a common term, heard quite frequently these days. UPI stands for Unified Payment Interface and has been developed by the National Payments Corporation of India. But, what is it, and why is it such a big deal? Let us find out.

On the face of it, what one can understand is that UPI is an interface that helps make payments in real-time. Since the Reserve Bank of India regulates the interface, it is one of the safest known methods today to transfer money from one account to another or make instant payments. To make UPI payments, it is necessary to install a payment app through which the payment can be initiated and processed.

Why have UPI payments become such a craze with the common person today? Because of the convenience factor. The interface can be used seamlessly, not just to pay utility bills but carry out multiple tasks related to financial transactions. From recharging your mobile phones and DTH connections, you can use a single UPI app to shop online, book your movie tickets, or a trip by air, rail, or road. You can use the same app to make your local grocery store with app providers offering instant loans to their registered users. An entire gamut of services can be accessed, used, and paid for using these hi-tech easy-to-use apps.

When you choose the UPI payment option, you need to use a third-party app to do so.  The app should be installed on your mobile. There are some credible apps in the UPI landscape in India today. Ensure that you trust the right UPI payment app before downloading, though, on your mobile. Read online reviews and content written by industry experts, check the app on its official website, know more about its owning company before selecting one.

 

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