You are here: Home » Finance » News » Banks
Business Standard

NPCI launches Bharat Bill Payment System pilot project

BBPS is the Reserve Bank mandated system which will provide interoperable bill payment services to customers

Press Trust of India  |  Mumbai 

Photo Credit: Twitter
Photo Credit: Twitter

National Payments Corporation of on Wednesday said it has launched the pilot project for Bill Payment System (BBPS) with 26 Bill Payment Operating Units.

BBPS is the Reserve Bank mandated system which will provide interoperable bill payment services to customers.

In the first phase, BBPS will cover repetitive payments for everyday utility services such as electricity, water, gas, telephone and direct-to-home (DTH), said in a statement here on Wednesday.

"BBPS, in due course of time, would link all major billers in the country with all their consumers which will simplify bill payments electronically," Managing Director and CEO A P Hota said.

Currently, the volume of bills being paid by cash is so large that even if 25 per cent of the bills get paid electronically, the impact would be visibly enormous, he said.

Some of the entities which are participating in the pilot project include — AP Mahesh Co-operative Urban Bank, Axis Bank, Gopinath Patil Parsik Janata Sahakari Bank, HDFC Bank, and

Besides, there are Indian Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab & Maharashtra Co-operative Bank, Punjab National Bank, RBL Bank and State

Avenues India, Common Service Centre, Euronet Services, IndiaIdeas.Com(Billdesk), ITZ Cash Card Ltd, One97 Communications Ltd (Paytm), Oxigen Services Pvt. Ltd, PayU Payments Pvt. Ltd, Spice Digital Ltd and TechProcess Payment Services Ltd are the non-entities which are part of the pilot project.

BBPS is an integrated platform connecting and non-bank entities in bill aggregation business like billers, payment service providers and retail bill outlets.

As on date, 62 entities have received in-principle approval from RBI to function as Operating Units (OU), out of which 52 are and 10 are non-entities.

functions as the authorised Bill Payment Central Unit (BBPCU) which will undertake clearing and settlement activities related to transactions routed through BBPS.

First Published: Wed, August 31 2016. 13:07 IST
RECOMMENDED FOR YOU