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Digital Payments roundup: TechProcess Payment, SBI Buddy Wallet and FINO Paytech

TechProcess Payment Services gets RBI licence to operate as a BBPOU TechProcess Payment Services, which operates Billjunction.com, has got the Reserve Bank of India's approval to operate as a Bharat Bill Payments Operating Unit (BBPOU). The approval from the RBI will allow BBPOUs to connect with the central bill payments and settlement system called Bharat Bill Payment System (BBPS) of National Payments Corporation of India (NPCI). BBPOUs are units which can create an agent network and will be responsible for on-boarding billers and aggregators. In addition, they will be responsible for transaction handling, infrastructure development and application development, including APIs. Other player who have got the RBI nod include Oxigen and PayU. The BBPS intends to offer an interoperable and accessible bill payment services to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. SBI's Buddy wallet signs up with CCAvenue State Bank of India's (SBI) digital wallet Buddy has signed up with payment gateway aggregator CCAvenue. Merchants processing payments through CCAvenue can now tap into the 2.7 million customer base of the wallet. SBI will get access to over 1 lakh merchants registered on CCAvenue. CCAvenue had signed a similar deal with FreeCharge in March. The deal would list FreeCharge as a payment option in CCAvenue’s merchant websites. CCAvenue says that it is a neutral payment gateway and has always associated with third party wallets. In March 2015, CCAvenue enabled the Immediate Mobile Payment Service (IMPS) for merchant payments which allows users to make real-time inter-bank payments via mobile phones. FINO…

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