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Nearby technologies ties up with Yes Bank to offer payments via BBPS

Fintech startup Nearby Technologies, in partnership with Yes Bank has announced that it has begun offering Bharat Bill Payment System (BBPS) services on its PayNearby app, reports the Economic Times. BBPS is a utility bill payment ecosystem through which customers can pay several bills such as electricity, telephone, water, gas, and direct-to-home television at a single terminal or an electronic device like a smartphone — and receive instant confirmation once the payment is made. According to the report, during the test phase, the company claims to have processed around Rs 24 crore worth of transactions for BBPS. To put things in context, the BBPS has facilitated 31.5 million transactions in the month of March, worth Rs 2986.15 crore, figures revealed the National Payments Corporation of India (NPCI) have shown. The company also claims that the PayNearby app has more than 1 lakh retail stores across…

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