Bharat Bill Payments System (BBPS) NPCI Guidelines,Process for universal bill payment system initiated by NPCI under digital India. Bharat Bill Payments System (BBPS) is an integrated online platform by RBI and managed by National Payments Corporation of India (NPCI) for all kinds of utility bill payments.
The concept of Bill Payment system (BBPS) introduced by RBI after keeping in mind that there are approx 3000 crore of bills generated annually with 20% and more growth per year.
The proposed platform of BBPS will be built through a network of agents along with the various mode of payment modes along with instant generation of receipts of payments.
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BBPS model will create the common online platform where utility service provider will meet all payments service providers.
Scope of BBPS
Key Highlights :
BBPS will provide the easy and hassle free online/offline payment of almost all the bills generated by various utilities companies in India.The common utility services for which bills are currently generated are Electricity Bills, Water Bills, Mobile recharge, DTH and telecom.
BBPS will also include the services school and college fees in All India, university fee, municipality taxes, mutual funds, insurance premiums etc.
Benefits of Using BBPS
The major benefit of using BBPS are :
- Bills can be paid from anywhere and anytime
- Easy and hassle free mode of payment
- There are almost all the option for Bills Payment like NEFT,RTGS,Mobile Wallets,Credit Card,Debit Card,Internet Banking,IMPS etc
- Bills can also be paid through BBPS outlets like banks, ATMs, business correspondents, kiosks etc with instant receipts.
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How To Register BBPS ?
Thr process for BBPS registration is very simple. In order to register for BBPS one need to visit any of the Bharat Bill Payments System (BBPS) retail outlet. One may register online also through BBPS website registration page after providing name, address, email id, mobile number and an identification document. After registration, a customer ID would be created which would be used as a reference for all future transactions.
Who are the BBPS Agents or Licence Holders ?
Almost all the Banks or their correspondent, Payment Banks, Bill recharge company etc.