Bharat Bill: pay bills anytime, anywhere
Currently, bill payment facilitators have to tie-up bilaterally with different billers. The new system, a pilot now, would give access to several billers to all participants
The process to make your bill utility payments easier began last month with the National Payments Corporation of India (NPCI) launching the pilot project for Bharat Bill Payment System (BBPS). NPCI is an umbrella organisation for all retail payments in the country.
As per the framework, a customer will have a single location—physical or electronic—where she can pay bills such as for electricity, telephone, water, gas, and direct-to-home television. There will be instant confirmation once the payment is made.
Payments can be either made in cash or through any of the various electronic modes of payment. Cheque payments are not a part of the system. Participants who will function as operating units (OUs), will carry out these transactions for the customers.
The initiative is in line with the Reserve Bank of India’s (RBI) vision to facilitate payments for customers anytime, anywhere.Read More.. Click Here
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