Retail Banking- Bharat Bill Payment System (BBPS)

Bharat Bill Payment System (BBPS) is an integrated bill payment system in India offering inter operable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment.

Features of Bharath Bill Payment System:

✅Accessibility : BBPS will provide seamless facility of bill payments through multiple channels which includes Agent assisted model at any Agent/Bank Branch/BC Outlet/Online Channels.

✅Brand Connect :

BBPS will have single and trusted brand connect and BBPS’ assurance.

✅Clearing & Settlement :

Will facilitate multiple clearing and guaranteed settlements between multiple parties with standardized turnaround time.

✅Complaint Management :

BBPS will have standardized complaints management system for the resolution of customer grievances for both ON-US and OFF-US transactions. (‘On Us‘ Transactions, means that the bank that issue your card is the same as the one which owns the ATM or POS terminals on which you made the transaction.)

✅Dispute Management :

It will allow BBPOUs to raise and resolve disputes related to the transactions that have passed through the BBPS.

✅Integration :

BBPOUs will be required to connect only to BBPCU to access all the billers. Billers will be required to connect to only one BBPOU for enabling the customers to pay bills.

✅Interoperability :

BBPS will have an integrated platform connecting Non-banking and Banking entities with billers, retail bill outlets and payment service providers for facilitating bill payment services to the customers.

✅Uniform Standard :

The participants in the BBPS will have to maintain a uniform set of standard and procedures to enable smooth operations for BBPS.

Bharat Bill Payment System (BBPS) Benefits:

✅It will offer the facility of “Anytime Anywhere” bill payment to the customers through a network of agents.

✅It will provide an accessible bill payment system to the large segments of un-banked and under-banked population.

✅With the feature of interoperability, customers will be able to pay bills of multiple billers at a single point and make payments through multiple modes i.e. Debit card, Cash, Credit card, via electronic payment options such as NEFT, Net Banking, IMPS etc, and prepaid payment instruments that

includes wallets.

✅Service points are expected to become omnipresent providing easy access to the customers for bill payments irrespective of their geographical location.

✅It will enable the customers to pay bills of the billers who enrolled in the BBPS at any BBPS outlet. BBPS outlet will include Business correspondents, bank branches, customer service points, ATMs, retail agents of aggregators, Kiosks, etc.

✅It will facilitate instant confirmation of payment through a payment receipt or a confirmation message. The receipt will be in the form of email/SMS/print out as desired by the customer.

✅It will assure trust and confidence among the customers in terms of reliability, certainty and safety of the transaction.