HDFC Bank has gone live with the Bharat Bill Payments System (BBPS) on its net banking website. It looks like HDFC Bank has partnered with BillDesk for the implementation as the net banking page redirects users to payments.billdesk.com. The BBPS is a centralized system where banks and non-banks can allow a network of agents to access bill payment services in an interoperable manner. (hat tip: Rishi Tandon) Using manual as well as automatic modes, the NPCI wants to create massive agent networks and POS kiosks, which would act as gateways to accept every type of bill payment. To recap, the BBPS allows billers to collect recurring payments for services provided by utility service providers. Gradually, the scope will be extended to include services facilitating the collection of other types of repetitive payments, such as school and university fees, municipal taxes and payments etc. The central unit for the BBPS is the National Payments Corporation of India (NPCI) and there are 37 banks and seven non- banks who act as operating units. On the BBPS, a customer can pay a bill even if an operating unit does not have a direct agreement for bill payments. For example, a customer of Reliance Energy will be able to pay his electricity bill at any Oxigen outlet even though the two companies do not have a direct agreement for payments. Currently, HDFC Bank's BBPS page has the following biller categories: - Utilities (Gas/ Water/ ISP/ Property Tax) - Mobile/Telephone - Electricity - Insurance Premiums - Mutual Funds - Credit cards -…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...