- What is BBPS?
Bharat Bill Payments System is an integrated online platform that is being developed by the National Payments Corporation of India for all kinds of bill payments. The platform intends to build an interoperable service through a network of agents, enabling multiple payment modes along with the instant generation of receipts of payments. It would connect the utility service companies on one end and all payments service providers on the other. - What is the scope of BBPS?
BBPS aims to make regular bill payments for all utility services easy. That includes water, DTH, and telecom. However, the plan is to expand its service area to include school fees, university fees, municipality taxes, mutual funds, insurance premiums, etc., but as per clearances from the RBI. - Benefits of using BBPS?
Customer Benefits: The biggest advantage is that the bill can be paid anywhere and anytime. There would be retail points for bill payments across the country that would be able to accept all kinds of bills payments made through credit cards, debit cards, mobile wallets, net banking (IMPS, NEFT). The BBPS outlets would include banks, ATMs, business correspondents, kiosks, etc. and payments would be made securely through the NPCI network with instant receipts getting generated.
Participants Benefits: Utility service providers would be able to get payments instantly, they would not need to maintain bill collection centers by themselves, value-added services can be added by the operators, bills can be generated electronically and disbursal can also be electronic. Along with these, the BBPS platform would have fraud monitoring and risk mitigation systems in place in order to ensure smooth online transactions.
- How can a customer get registered?
For a customer to get registered with the Bharat Bill Payments System, he can either walk into any branch in The Kaithal Central Cooperative Bank Ltd. The customer would be required to provide his name, address, email id, mobile number, and identification document. After registration, a customer ID would be created which would be used as a reference for all future transactions.
