BSNL, SBI partner to launch UPI-based payment platform Bharat InstaPay

State-owned BSNL in partnership with State Bank of India launched a UPI-based payment platform, Bharat InstaPay.

According to BSNL officials, the new payment facility developed by the company will enable its partners, especially prepaid sellers, to buy service immediately for sale.

"This digital payment platform is an initiative of BSNL powered by SBI, which shall enable all types of channel partners of BSNL for doing all their payment transactions digitally on a 24-by-7 basis," BSNL said in a statement.

Before this service, BSNL vendors had to wait for payment settlement to buy various telecom services that they sold in market. This used to get further delayed on non-working days.

BSNL said Bharat InstaPay will help its partners do digital transactions on a real-time basis.

"This will not only improve BSNL's credibility towards partners, it will also help in growth of partners' business at a faster pace. A one-time online verification process has been introduced, which is to be done by the partners themselves by visiting newly designed Bharat InstaPay portal. All transactions, then, can be carried out without any human intervention on a 24-by-7 basis," the statement said.