Hero Honda on Right Track of Bill Payment

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Hero Honda started installing POS terminals and Bill pay kiosk in norht India's slected city (All Class A B and C cities) as well as Hero Honda Dealers. POS terminals are accepting only Bill payment is slowly working might be becuase Mr. Munjal has read this before all of us.

Statistics of last Four years Payment System data:
With about 30 per cent of the US population standing in line every week to pay bills at utility firms, retailers have an opportunity to profit from offering bill payment functionality over their POS network. As an example, a retailer selling mobile phones can offer a customer paying a bill, a plan that is better value than their current contract, and often a new phone. Evidence suggests that nine times out of ten, a bill-paying customer faced with this offer, will switch to the new plan on the spot, which in turn could generate up to USD 300 in commission for the retailer that sells the new phone plan.

If a convenience store offering bill payments at the POS processes 2,000 to 3,000 bills a month, this translates to USD 2,000 or USD 3,000 in extra revenues for minimal effort. Retailers wanting to accept bill payments at the POS can install a module that also delivers PIN-based products such as prepaid wireless. Kiosks, the next-generation of POS delivery, will grow by 20 per cent to 2008 in acceptance terms, according to the Prepaid Press, and can deliver up to USD 1,200 in gross revenues. Depending on whether a kiosk is owned by the store or by a distributor, retailers can take 10 to 20 per cent of these revenues.

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