BHARAT BILL PAYMENT SYSTEM
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BHARAT BILL PAYMENT SYSTEM
National Payments Corporation of India (NPCI) launcheded on 31.08.2016 a pilot project called Bharat Bill Payment System ( BBPS ) . BBPS is a payment system that facilitates Bill payments / Retail Payments across India . The BBPS system can be used for Merchant Payments , Bill Payments etc .Payments can be either made in cash or through any of the various electronic modes of payment. Cheque payments are not a part of the system. Participants who will function as operating units (OUs), will carry out these transactions for the customers.
The policy guidelines for the BBPS system were issued by the Reserve Bank of India on November 28, 2014. The document is available in the following link https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=9368&Mode=0. The BBPS will operate as a tiered structure with a single Bharat Bill Payment Central Unit (BBPCU) and multiple Bharat Bill Payment Operating Units (BBPOUs)
System is presently running on pilot basis involving few participants
The policy guidelines for the BBPS system were issued by the Reserve Bank of India on November 28, 2014. The document is available in the following link https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=9368&Mode=0. The BBPS will operate as a tiered structure with a single Bharat Bill Payment Central Unit (BBPCU) and multiple Bharat Bill Payment Operating Units (BBPOUs)
System is presently running on pilot basis involving few participants
MODUS OPERANDI
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BBPS will be an integrated platform connecting banks and non-banks in bills aggregation business, Billers , payment service providers and retail bill outlets . BBPS will facilitate seamless payment of bills through any channel including Agent-Assisted Model at any Agent/BC outlet/bank branch/ online channels
BBPS plans to cover Electricity Bills , Water Bills , municipal Taxes , Gas Supply , telephone , DTH , School / College Fees , Insurance , Mutual Funds , Credit Card Payments etc . In the system , a customer can either walk into an outlet or log on to an OU’s website ( But the pilot project is running on a smaller scale.) . A consumer can walk into these and make the payment by providing the reference number mentioned on the utility bill. The front-end will display the details of the bill and one can pay the amount. |
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BENEFITS OF BHARAT BILL PAYMENT SYSTEM
Earlier a customer had to go physically to a utility provider to make payment either in cash or cheque . Now a days , most of the billers / utility companies are providing option of making payment on line through their websites . Some of the bankers are also facilitating payment through their bank branches / websites . New Non banking companies like Paytm , PayU etc are also facilitating various payment through their web applications / mobile applications . Such payments are facilitated through bilateral arrangements with utility companies / billers . In order to integrate such payments in to an uniform system , National Payments Corporation of India (NPCI) was formed . It is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). NPCI has ten promoter banks namely, State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank and HSBC. The Board constitutes of Shri Balachandran M as the Chairman, Nominee from RBI, Nominees from ten core promoter banks, two Independent Directors and Shri A. P. Hota, Managing Director and Chief Executive Officer, NPCI.
The Bharat Bill payment system has been developed by NCPI to make bill payment convenient ,• Time saving, having Uniform experience and flexibility of payment channels • It aims to give Reliable service with high degree of trust and security , Transparent pricing with instant payment confirmation and Unified Grievance Handling
The Bharat Bill payment system has been developed by NCPI to make bill payment convenient ,• Time saving, having Uniform experience and flexibility of payment channels • It aims to give Reliable service with high degree of trust and security , Transparent pricing with instant payment confirmation and Unified Grievance Handling
PLAN N PROGRESS
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PILOT PROJECT
The following Bankers have joined the pilot project launched on 31.08.2016 :
1. Axis Bank
2. I.C.I.C.I Bank
3. IDBI Bank
4. Indusind Bank
5. Punjab National Bank
6. State Bank of India
7. RBL Bank
8. The Saraswat Co operative bank
9 . Yes Bank
10 . Mahesh Co operative Urban Bank
11. Kotak mahindra Bank
12 . Punjab & Maharastra Co operative Bank
13. TJSB Sahakari Bank
14. HDFC Bank
15 . Indian bank
16 .Gopinath-Patil-Parsik-Janata-Sahakari-Bank-Ltd
NON BANKING PARTNERS
1. Avenue India Pvt Ltd
2. Common services Centers (Digital seva kendras )
3. Euronet Services India
4. Billdesk
5. ITZ Cashcard
6. One97 communications Ltd ( paytm )
7. Oxizen services
8. PayU Payments
9. Spice Digital Ltd
10 . Techprocess payment services
Some of the above Banks / Non Banks are already in the payment services business and are providing their services for payment of various utilities through bilateral arrangements with various billers . One can go to the links of banks to find out the services already being provided .
1. Axis Bank
2. I.C.I.C.I Bank
3. IDBI Bank
4. Indusind Bank
5. Punjab National Bank
6. State Bank of India
7. RBL Bank
8. The Saraswat Co operative bank
9 . Yes Bank
10 . Mahesh Co operative Urban Bank
11. Kotak mahindra Bank
12 . Punjab & Maharastra Co operative Bank
13. TJSB Sahakari Bank
14. HDFC Bank
15 . Indian bank
16 .Gopinath-Patil-Parsik-Janata-Sahakari-Bank-Ltd
NON BANKING PARTNERS
1. Avenue India Pvt Ltd
2. Common services Centers (Digital seva kendras )
3. Euronet Services India
4. Billdesk
5. ITZ Cashcard
6. One97 communications Ltd ( paytm )
7. Oxizen services
8. PayU Payments
9. Spice Digital Ltd
10 . Techprocess payment services
Some of the above Banks / Non Banks are already in the payment services business and are providing their services for payment of various utilities through bilateral arrangements with various billers . One can go to the links of banks to find out the services already being provided .
USEFUL LINKS
1. National Payments Corporation of India WEBSITE for system presentation
2. Reserve Bank of India for WEBSITE FAQS on BBPS System
3. National Payments Corporation of India WEBSITE for PROCEDURAL GUIDELINES
2. Reserve Bank of India for WEBSITE FAQS on BBPS System
3. National Payments Corporation of India WEBSITE for PROCEDURAL GUIDELINES