BBPS Billpay solution – Bharat Bill Payment System (BBPS) is a new addition to the digital products catalog of NPCI and RBI, which is providing a hassle free way of making bill payments i.e. Bills of utilities services like Electricity, Telecom, Water, DTH and Gas services (Currently Indraprastha gas only). Major banks like Syndicate Bank, SBI, Canara Bank, Vijaya Bank, Bank of Baroda, ICICI, Axis Bank, HDFC etc have already launched their services with major billers like BSNL, Tata Power, Reliance energy etc.
Bharat Bill Pay is a digital initiative for offering real time bill payment services to any individual including customers of bank across geographic and demographic lines. Banks are participating as Customer Bharat Bill Payment Operating Units (Customer BBPOU) on Bharat Bill Pay platform. BBPOU may choose to integrate either with the customers (COU: Customer OU) or with the billers (Biller OU) or may wish to participate as both – which mean such BBPOU will be integrated with customers as well as billers.
The bill payment options are available through multiple channels.Bharat BillPay is a simplest, secured and easy bill payment platform which offers inter-operable and accessible bill payment services. Customer will receive the instant confirmation of receipt of payments.
There are 14+ Banks and RRB’s who are live on BBPS. Currently majority of bills are on-boarded on BBPS platform.
How is BBPS differentiating the existing Bill Payment option?
|Existing Bill Payment options||Bharat BillPay|
|No single facility to pay all types of bills at one location||Anytime anywhere payment of all types of bills through an integrated platform|
|Rural areas do not have access to third party bill payment services||They can make payment through any of branches of Banks. Even from Pos location or BC location also.|
|Charges for bill payment services are not standardized||Standardized charges for banks, non-banks, agents, customers etc.|
|No standard TAT and mechanism for complaint management & resolution||Bharat Bill Pay has laid down standardized complaints management system to handle customer issues|
|Banks are required to connect to multiple aggregators & billers. Thus multiple Settlements and Reconciliation with different billers||Standard commercial arrangement across the industry. Single Settlement & Reconciliation with Billers|
|Fragmented market, lack of trust and low brand connect/recall||Single and trusted brand connect and Bharat Bill-pay Assurance|
Who can use it?
- Available for all, Bank’s Customers as well as Non-Customers.
- Availability through Internet Banking, Mobile Banking and other Online mode.
Currently there is no convenience fees for customer for making any bill payment through branches. For online transactions i.e. through UPI, Internet Banking, Credit Card, Debit Card etc bank’s are charging convenience fees.