The Bharat Bill Payment System (BBPS) is a RBI mandated system which will offer integrated and interoperable bill payment services to customers across geographies with certainty, reliability and safety of transactions.
It offers bill payment services to customers through network of agents or online, allowing multiple payment modes and provides instant confirmation. It will facilitate a less cash society through migration of bill payments from cash to electronic channel. details as below:
In India Bill Payments such as Utility Bills (electricity, water, telephone, etc,), Taxes and trade bills are mostly done by cash or by cheque. Also online payment facility is restricted to few vendors.
The offered solution by NPST is for routing the transactions to and from NPCI, originated from the Bank‘s and other bank‘s various alternative channels, which are used by its customers.
The offered solution can be integrated seamlessly with the existing alternative channels along with NPCI’s setup and guidelines.
BBPS will cover repetitive payments. Customers can also use any payment method they prefer like Net Banking, credit/debit cards or e-wallet.
Benefits of Bharat Bill Payment System:
Bill Payment can be done by customers at any of the BBPS outlet. This will enable an easy billing
Bill Payment by customers can be done through a network of agents both via online and offline medium
There are multiple payment options for customer
Different types of Bill Payments can be done at single place
Payment can be done by customers at different places of India