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Bill verification API

Bill Verification API

We know that In India, financial and banking knowledge is still very low. In fact, just 15% of the population have valid credit scores. Furthermore, large numbers of people in rural areas still do not have access to banks and other technology-enabled platforms such as financial institutions found in cities. Therefore, in cases where these people have to deal with financial institutions such as applying for loans, depositing their water bills can help in verifying their identity. In addition, the central government has recently prompted businesses in the country to do identity authentication on every customer so as to prevent fraud. This is where water bill verification comes in to help businesses document customer information.

Such an identity verification process helps mitigate the risks that can cost businesses millions of rupees and strengthen the relationships that companies share with their customers. It also shows customers that the company values ​​safety and security, creating a trustworthy brand image. Water bill information also assures businesses that their customers are who they claim to be and have no intention of committing fraud. Furthermore, it is an essential step for each business to determine the payment attitude of its customers. Water bill payment patterns can also help businesses understand the credit given to that customer and the possibility of default on that customer's payment attitude.

Therefore, it is safe to say that water bill verification, which is a document that most people in India are likely to have, is one of the methods of identity verification. It can prove the identity, address, financial responsibility and attitude of payment of the customer. Now, let us see how water bill verification works.

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