Coming soon: A new system to integrate netbanking, payment aggregators

This new switch being developed by NPCI subsidiary NPCI Bharat BillPay Limited (NBBL) will not leverage any existing payments system tech but will focus on creating a new system altogether

NPCI Bharat BillPay (NBBL) is working on a new system (switch) to make netbanking easier for customers. The project, called Netbanking 2.0, which is being tested by NBBL, is expected to go live within the next three to four months, said sources in the know.

 

This new switch will not leverage any existing payment system, such as IMPS (Immediate Payment Service) technology, but will focus on creating a new system altogether.

 

NBBL is a subsidiary of the National Payments Corporation of India (NPCI), the body that runs the Unified Payments Interface (UPI). It operates the bill payment system Bharat