The Bharat Bill Payment System (BBPS) is the new universal one stop payment system for paying all the bills generated in India through any of the billers either Government, Services or Private. In order to make the paying bills hassle free, convenient and comfortable, NPCI has launched the Bill Payment system in India i.e. BBPS.
The BBPS system will provide service to collect billing related everyday activities of the customer. The majority of billing services are telephone bill, electricity bill, water bill, Mobile bills, Postpaid bills, Insurance payment, LIC payment etc. BBPS will also extends it services to collect payments for the services other than those mentioned above, like government taxes, school fees, mutual fund payments, insurance premiums, etc. Multiple modes for making a payment like debit or credit cards, e-wallets, cash, net banking, etc. will be available.
The major benefit of BBPS services are in case of intra biller payment mode for example Let’s assume you are using Airtel Money, and that it has been signed on as a BBPOU under the new system. You might have been using Airtel Money to pay your Airtel Broadband or Airtel DTH bills in the past but not your Reliance Jio phone bill.
If Reliance Jio signs up with the BBPS as a bill generator, then it should become possible to pay the phone bill using Airtel Money as well. It will be similar to various services provided by eWallet PayTm and Oxigen beside many others.
Read : What is Bharat Bill Payment System (BBPS) ?
The biggest advantage is that once registration made on BBPS , reminder along with automatic payment facilities will be provided anywhere and anytime. There would be physical kiosks, retail points for bill payments across the country which would be able to accept all kinds of bills payments made through any channel of payments like credit cards, debit cards, mobile wallets, net banking (IMPS, NEFT). There are chances that existing banks branches, ATMs, business correspondents, kiosks etc. will be act as the payment center on behalf of NPCI for collecting payment and giving instant receipts to customer.
Read : Why Paytm or other e Wallet have no future ?
Benefits of BBPS
The major benefits of the Bharat Bill Payment System (BBPS) are divided in two sub categories i.e. customer benefits and participant benefits.
Customer Benefits
Participants Benefits
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