MyGate — Please integrate with BBPS
Link to my Blog @ https://innovationinbanking.blogspot.com/2020/08/mygate-please-integrate-with-bbps.html
Disclaimer: I have no interests in MyGate or BBPS. I just believe in the power of BBPS to transform the Billing landscape in India. There is infinite scope for a National Billing Application in India.
The surface is not even scratched. Let 85% of Bill Payments happen via BBPS.
Q: What is MyGate?
Ans: Quote
MyGate is a mobile-based intelligent security application to enhance the safety of gated communities. The product is designed and executed by founders with experience in Armed Forces, NSG/SPG and technology experts from Google and Oracle. MyGate will augment existing security in an intelligent and non-intrusive manner.
Maintenance payments — Your residents will appreciate our low payment charges and the multitude of payment options. Any credit or debit card, netbanking, UPI and even a few wallets are accepted. Expect payment collection to be quicker and smoother.
Unquote
Q: What is BBPS?
Ans: BBPS (Bharat Bill Payment System) is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers through a network of agents of registered member as Agent Institutions, enabling multiple payment modes, and providing instant confirmation of payment
There are various options. MyGate has its own payment channel integrated into its Application.
A housing society onboarding MyGate gets access to the Payment channel itself. Hence, the housing societies do not have the need to integrate with BBPS separately.
One way can be integration of MyGate as the main Biller and housing societies part of MyGate as sub-billers. This can be a new model.
OR
MyGate Housing societies integration to BBPS can be done by MyGate team and the backend managed by BBPS. This may not require any major changes at BBPS end.
Either way, MyGate and BBPS will be the winners.
The more transactions happen on BBPS, the better for India.
MyGate is just an example of App-based security management services for gated communities and apartment complexes is a rapidly evolving sector.
Apart from MyGate, there are many similar players viz including Reliance’s JioGate, GateKeeper by ADDA, NoBrokerHOOD, Smart Guard, and Lockated, which let communities improve security processes, manage visitors and deliveries, and auto-generate gate passes.
Read more at: https://yourstory.com/2020/05/product-roadmap-apartment-management-app-mygate-coronavirus-social-distancing.