What is BBPS
BBPS supports a wide range of bill payment categories including electricity, water, gas, telecom, DTH, and municipal taxes among others. It provides a one-stop solution for all bill payments and enables customers to view their bill details, payment history, and bill payment status.
To make a bill payment through BBPS, customers need to register on the platform and link their bank accounts. They can then select the biller and enter the bill details to make the payment. BBPS also provides various payment options such as debit/credit card, net banking, UPI, and mobile wallets. BBPS is designed to provide a convenient and secure way of bill payment to customers, and it has simplified the bill payment process by eliminating the need to visit different billers' websites or physical payment centers. It has also brought transparency and efficiency in the bill payment process and has reduced the scope for errors and disputes.
Objective of BBPS
● Customers may use the system at any time and from any location, making it easy for them.
● By offering dependable services, the system builds client confidence.
● The availability of several payment methods is an added benefit.
● The technology allows for immediate payment confirmation, making it readily verifiable. Scope of BBPS
● The Bharat Bill Payment System would make utility bill payment collecting more accessible and pleasant. The system will provide a service to collect fees for the customer's repeated, daily actions. For example, a telephone bill, an energy bill, a water bill, and so on.
● The system's operations will be expanded to collect payments for services other than those listed above, such as government taxes, school fees, mutual fund payments, insurance premiums, and so on, as informed by the RBI from time to time.
● Bill payment options will be available online. ATMs, bank branches, and agents' locations will all have service centers. Payment methods such as debit or credit cards, e-wallets, cash, net banking, and so on will be accessible
Why BBPS
Interoperable:- BBPS is a platform connecting banks and non-banks to all aggregation businesses, billers, payment service providers, and retail service outlets.Accessible:- It will facilitate a seamless payment experience of bills through any channels, like the Agent-Assisted model at any Agent/BC outlet/bank branch/ online channel.
Complaint management:- BBPS will implement a uniform complaint management system to address consumer complaints for all types of transactions.