Financial Daily from THE HINDU group of publications
Friday, Jan 10, 2003
E-Commerce & E-Business
Hero group sets up `Easy Bill'
Mr Brijmohan Lall, Chairman of the Hero group, flanked by Mr Sunil Kant Munjal, Managing Director and CEO, Corporate Service Ltd (left), and Mr Rahul Munjal, CEO, Easy Bill Ltd, at a press conference in the Capital on Thursday.
NEW DELHI, Jan. 9
THE Hero group, comprising leading companies, Hero Honda and Hero Cycles, has set up a new firm, `Easy Bill' to do large-scale bill collection through a countrywide network.
Easy Bill, which will launch operations in March this year, will enable consumers to pay utility bills by cash at selected retail shops acting as a one-stop collection point for all kind of bill payments.
Consumers will be charged a nominal fee. These collection points will be linked up and connected to a database, which will make it possible to track all receipts online. The Hero Group will make an investment of about Rs 50,000 per collection point.
The company plans to start with Delhi, followed by Punjab, Mumbai and Maharashtra and to reach out to 35 cities by 2005. In the first year, 2,500 retailers would be roped in to become Easy Bill collection points.
"Over the years, our group has acquired tremendous competencies in managing nationwide distribution networks... We want the core strength and experience of the group to be leveraged for the Indian consumer through this new venture," said Mr Brijmohan Lall, Chairman of the Group.
The new venture would be headed by Mr Rahul Munjal, son of late Raman Kant Munjal, who was the founder Managing Director of Hero Honda Motors.
"Easy Bill will help you pay all bills - be it telephone, power, school fees, taxes or anything," Mr Munjal said, adding that currently, discussions are on with a number of utilities.
Apart from being collection points, Easy Bill will also provide other services such as recharging pre-paid telephone cards.
"Our vision is to have one Easy Bill outlet per one kilometre radius, Mr Munjal said.
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