K-Electric to implement real time payment system

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The K-Electric (KE)has joined hands with Avanza Solutions, one of the leading Fintech organizations across the globe, to implement Real Time Payment System (RTPS).

Real Time Payment System (RTPS) is based on Avanza’s e-BPS which is a bill payment platform powered by Rendezvous, ‘an enterprise middleware’, that enables organizations to provide delivery channel services. e-BPS implementation automates all details of bill payment gateway operations and ensures that transactions are executed from all the sources in a uniform, secure, and efficient manner.

RTPS will facilitate bill payment by directly interlinking all the banks and KE. The middleware facilitates transactional processes and transaction routing functionality by providing a real-time bill inquiry and bill payment services of KE data to banks on a real-time basis.

 

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