BBPS | Postpaid Mobile & Utility Bill Payments | BANKIT
What is BBPS?
Bharat Bill Payment System (BBPS) is RBI essential system that provides an integrated, interoperable invoice payment service to customers from all regions, with transaction certainty, reliability and security. It provides customers with bill payment services through an agent network or online, enables multiple payment modes, and provides instant confirmation via BBPS web, BBPS app, SMS or receipt .We are promoting a cashless society by shifting cash bill payments to electronic channels. Currently, you can pay bills for utilities (gas, electricity, water, DTH) and telecommunications.
- Interoperability: BBPS is an integrated online bill payment business platform that connects bank and non-bank entities at bill aggregation, billing, payment service providers, and retailers.
- Accessible: Facilitates continuous payment of invoices through any channel, including models supported by BC / Agent branch / bank branch / representative contacts.
- Integration: BBPOU (About Bharat Bill Payment Operating Unit), i.e. Banks / Non-Banks, should be connected only to BBPCU (Central Payment Unit of Bharat) and NPCI (National Payments Corporation of India).The billers need to connect to a single BBPOU so that all customers can pay their bills.
- Compensation and Settlement: Use standardized rules/guidelines to make multiple liquidation and guaranteed settlements between different parties.
- Complaint Management: BBPS will introduce a standardized complaint management system to handle customer complaints in all types of transactions.
What are the benefits to customer?
- Customers will enjoy the ease of paying bills anywhere, anytime by simply connecting to the BBPS network, online or through agents.
- Access to the system will be available everywhere, including the zero or minimum banking region.
- Earn highest commission in market in each BBPS transaction.
- Payment of any invoice could be made through a single portal.
- Service centers for the payment of bills will be available at the workplace or residence closest to the client.
- Bank branches, ATMs, customer service centers, etc., could be the point of sale of BBPS. A customer could make the payment from any BBPS point of sale.
- Security and reliability could be entrusted to the clients with the use of this system.