In India, Tata Power has partnered with IDFC Bank to automate its consumer bill payments.
The utility has launched the Electronic National Automated Clearing House (e-NACH), a technology that allows consumers to make payments online.
e-NACH is using a new-age electronic online mandate registration process launched by the National Payments Corporation of India.
This is the first-ever use of e-NACH via e-mandate in the power sector in India.
The development is expected to enhance customer experience and reduce Turn-Around-Time for online customer registration.
The new system makes bill payments more convenient as consumers do not need to fill in physical forms and can now initiate their mandate registration on-the-go.
Mr. Praveer Sinha, CEO of Tata Power, said, “We are happy to partner with IDFC Bank for this digitised solution to revolutionise electricity bill payments in the city and improve overall customer service and experience. The service will provide more convenient and quicker payment options to the consumers and contribute to the financial inclusion in the country.”
Mr. Ajay Mahajan, head of wholesale banking, IDFC Bank, said, “We are witnessing an unprecedented level of innovation in financial services, driven by either a singular or a combination of technologies. IDFC Bank is privileged to associate with Tata Power to create solutions that are transformational from a customer experience standpoint. Through a seamless integration of APIs, Tata Power has become the first to deploy e-NACH for utility bill payments, making the process of registration for online payments completely paperless and simple. With this solution, Tata Power has placed convenience and flexibility in the hands of its consumer.”