The National Payments Corporation of India (NPCI) has shifted all of its Bharat Bill Payment System (BBPS) transaction mandates to a new subsidiary named NPCI Bharat BillPay Limited (NBBL), effectively separating its automated bill payment business from its parent company.
On March 31, NPCI sent an email to all approved bill processors on the network, including banks and payment aggregators, requesting that they begin accounting their billing transactions under NBBL on April 1.
Bharat BillPay allows you to make all of your recurring payments in one place.
List of services that can be availed on the app:
It offers myriad Bill collection categories like electricity, telecom, DTH, gas, water bills, etc. and also other repetitive payments like insurance premium, mutual funds, school fees, institution fees, credit cards, Fastag recharge, local taxes, housing society payments, etc. at one single window.
Mutual funds, credit cards, annual deposits, clubs and associations, metro recharge, and other categories will be protected by Bharat BillPay in the near future.
By scanning at the Bharat BillPay logo, a transaction can be initiated via multiple payment channels such as the Internet, Internet Banking, Mobile, Mobile Banking, Mobile Wallets, Kiosk, ATM, Bank Branch, Agents, and Business Correspondents.
BillPay supports a variety of payment methods for bill payments. Cards (Credit, Debit, and Prepaid), NEFT Internet Banking, UPI, Wallets, Aadhar-based Payments, and Cash are the payment modes supported by the ecosystem.
The most significant benefit is that the customer has "Control" of all of his bills in one location, which can be charged anywhere and at any time. A transaction can be completed via any customer-facing channel, including electronic or physical outlets across the country through Cash, Card, IMPS, and so on.
How to make the payment for my bill using BBPS?
Step 1: Connect to any Internet banking/App of your respective bank o
Step 2: Click on Bill payment or BBPS Tab
Step 3: Choose the category of biller
Step 4: Enter the bill details
Step 5: Initiate a payment and get instant confirmation.
A customer will receive a successful transaction status as well as a BBPS bill receipt in electronic, email, SMS, or print format.
There are no fees for an electronic transaction completed at the customer's own bank. However, if you make a purchase at a physical store or a bank branch, you will be charged a convenience fee.