You are here: Home » News-ANI » Business
Business Standard

Mahagram, TJS Bank partner to integrate Bharat Bill Payment System

Business Finance


Mahagram, a rising FinTech company announced its partnership with Thane Janta Sahakari Bank Ltd. (TJS Bank) for integrating the Bharat Bill Payment System (BBPS).

This follows the amalgamation of Mahagram's payment services with the BBPS monitored by the National Payment Corporation (NPCI).

Mahagram has a digital financial services platform known as "eGramTM" that has brought a payment revolution by delivering an integrated range of services on a robust transaction platform. Aiming at BBPS, Mahagram is trying to resolve difficulties by assisting in a number of services to people's doorsteps. Like digital payment industry it offers services to help India go cashless.

"We are happy to associate with BBPS, because Digital Payment is not just a transaction nowadays. It's the user experience that matters. Multiple billers, multiple payment options on one single window - Bharat Bill Payment System has it all covered. So one can easily pay electricity, telecom, DTH, gas, water bills, etc. through a single window, without any hassle. There are 60 million people with disabilities in India. How do we extend digital dividends to them? Retail Assisted eCommerce would definitely help," said Mahagram founder and CEO, Ram Shriram.

For the unversed, the BBPS is a Reserve Bank of India (RBI)-conceptualised system driven by the NPCI, and is a one-stop payment platform for all bills, providing an interoperable and accessible bill payment service to all customers across India with certainty, reliability and safety of transactions.

NPCI will act as an authorised India Bill Payment Central Unit (BBPCU), which will be accountable for laying the foundations of standards, rules and procedures for all participants assisting technical and needs. BBPS will cover repetitious payments for any category of everyday utility services.

BBPS has multiple modes of payment. It provides instant confirmation of payment via SMS or receipt. BBPS offers myriad bill collection categories like electricity, telecom, DTH, gas, water bills, etc. through a single window. Further, they are planning to expand their categories to insurance premium, mutual funds, school fees, institution fees, credit cards, local taxes, and invoice payments. An effective mechanism for handling consumer complaints has also been put in place to support consumer regarding any bill related problems in BBPS.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, March 17 2018. 12:05 IST