Money & Banking

RBI expands scope and coverage of Bharat Bill Payment System

Our Bureau Mumbai | Updated on June 14, 2021

BBPS to include all categories of billers, who raise recurring bills, as eligible participants

The Reserve Bank of India (RBI) has decided to permit ‘mobile prepaid recharges’ as a biller category in Bharat Bill Payment system (BBPS), on a voluntary basis.

This will be implemented on or before August 31, 2021.

“With consistent growth in different biller categories and to facilitate mobile prepaid customers with more options to recharge, it has been decided to permit ‘mobile prepaid recharges’ as a biller category in BBPS, on a voluntary basis,” RBI said in a circular.

So far, the scope and coverage of BBPS included all categories of billers who raise recurring bills (except prepaid recharges) as eligible participants, on a voluntary basis.

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BBPS is as an interoperable platform for repetitive bill payments. It was conceptualised to offer interoperable and accessible bill payment services to customers through a network of agents with multiple payment modes and instant confirmation of payment.

Pilot phase of BBPS was launched on August 31, 2016 and BBPS live operations commenced from October 17, 2017.

The system offers ‘anytime anywhere’ bill payment service to customers using online payments as well as through a network of physical agent locations.

As per NPCI data, the volume of BBPS transactions almost doubled in FY21 to ₹154.482 crore from ₹77.809 crore in FY20.

Published on June 14, 2021

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