Bharat Bill Payment System

Current Context : Recently, The Reserve Bank of India (RBI) has issued the norms that all credit card bill payments via third-party applications must now be routed through the Bharat Bill Payment System (BBPS).

ABOUT BHARAT BILL PAYMENT SYSTEM (BBPS):

• It is a payment channel system conceptualized by the RBI and managed by the National Payments Corporation of India (NPCI).
• It is an integrated ecosystem connecting banks and non-banks in bills aggregation business, Billers, payment service providers and retail Bill outlets.
• The system will provide multiple payment modes and instant confirmation of receipt of payment.
• It offers bill collection categories like electricity, telecom, Mobile Post paid, DTH, gas, water bills etc. through a single window.