>Pradip4india at 10:01, 30 June 2021

2021-06-30T10:01:36Z

← Older revision		Revision as of 15:31, 30 June 2021
Line 13:		Line 13:
	'''Bharat Bill Payment System (BBPS)''' is an integrated bill payment system in [[India]] offering interoperable and accessible bill payment service to customers through a network of agents of registered member as Agent Institutions (AI),<ref>https://www.npci.org.in/bharat-billpay-live-members</ref> enabling multiple payment modes, and providing instant confirmation of payment.<ref name="RBI">{{cite web \| url=http://rbi.org.in/scripts/NotificationUser.aspx?Id=9368&Mode=0 \| title=Implementation of Bharat Bill Payment System (BBPS) - Guidelines \| publisher=Reserve Bank of India \| date=28 November 2014 \| access-date=29 November 2014}}</ref>		'''Bharat Bill Payment System (BBPS)''' is an integrated bill payment system in [[India]] offering interoperable and accessible bill payment service to customers through a network of agents of registered member as Agent Institutions (AI),<ref>https://www.npci.org.in/bharat-billpay-live-members</ref> enabling multiple payment modes, and providing instant confirmation of payment.<ref name="RBI">{{cite web \| url=http://rbi.org.in/scripts/NotificationUser.aspx?Id=9368&Mode=0 \| title=Implementation of Bharat Bill Payment System (BBPS) - Guidelines \| publisher=Reserve Bank of India \| date=28 November 2014 \| access-date=29 November 2014}}</ref>

	[[National Payments Corporation of India]] (NPCI) functions as the authorised Bharat Bill Payment Central Unit (BBPCU), which will be responsible for setting business standards, rules and procedures for technical and business requirements for all the participants. NPCI, as the BBPCU, will also undertake clearing and settlement activities related to transactions routed through BBPS. Existing bill aggregators and banks are envisaged to work as Operating Units to provide an interoperable bill payment system irrespective of which unit has on-boarded a particular biller. Payments may be made through the BBPS using cash, transfer cheques, and electronic modes.<ref name="NPCI">{{cite web \| url=http://www.npci.org.in/BBPS-about-us.aspx \| title=NPCI - About Bharat Bill Payment System (BBPS) \| publisher=National Payments Corporation of India \| access-date=2 January 2017 \| archive-url=https://web.archive.org/web/20170103012729/http://www.npci.org.in/BBPS-about-us.aspx \| archive-date=3 January 2017 \| url-status=dead }}</ref>		[[National Payments Corporation of India]] (NPCI) functions as the authorised Bharat Bill Payment Central Unit (BBPCU), which will be responsible for setting business standards, rules and procedures for technical and business requirements for all the participants. NPCI, as the BBPCU, will also undertake clearing and settlement activities related to transactions routed through BBPS. Existing bill aggregators and banks are envisaged to work as Operating Units to provide an interoperable bill payment system irrespective of which unit has on-boarded a particular biller. Payments may be made through the BBPS using cash, transfer cheques, and electronic modes. BBPS has also been integrated with the [[Unified Payments Interface]] (UPI) for Easy, Safe & Instant Payments through UPI enabled Smartphones.<ref name="NPCI">{{cite web \| url=http://www.npci.org.in/BBPS-about-us.aspx \| title=NPCI - About Bharat Bill Payment System (BBPS) \| publisher=National Payments Corporation of India \| access-date=2 January 2017 \| archive-url=https://web.archive.org/web/20170103012729/http://www.npci.org.in/BBPS-about-us.aspx \| archive-date=3 January 2017 \| url-status=dead }}</ref>

	==Background==		==Background==

2402:3A80:A80:1B63:0:28:3D4D:3C01: /* Background */ Fixed typo

2021-02-27T07:57:00Z

Background: Fixed typo

New page

{{Use dmy dates|date=July 2019}}
{{Use Indian English|date=February 2017}}
{{Infobox interbank network
| name = Bharat Bill Payment System
| logo = File:BBPS Logo.png
| area = India
| members =
| atm =
| foundation = 2013
| owner = [[National Payments Corporation of India|NPCI]]
| website = {{url|https://www.bharatbillpay.com}}
}}
'''Bharat Bill Payment System (BBPS)''' is an integrated bill payment system in [[India]] offering interoperable and accessible bill payment service to customers through a network of agents of registered member as Agent Institutions (AI),<ref>https://www.npci.org.in/bharat-billpay-live-members</ref> enabling multiple payment modes, and providing instant confirmation of payment.<ref name="RBI">{{cite web | url=http://rbi.org.in/scripts/NotificationUser.aspx?Id=9368&Mode=0 | title=Implementation of Bharat Bill Payment System (BBPS) - Guidelines | publisher=Reserve Bank of India | date=28 November 2014 | access-date=29 November 2014}}</ref>

[[National Payments Corporation of India]] (NPCI) functions as the authorised Bharat Bill Payment Central Unit (BBPCU), which will be responsible for setting business standards, rules and procedures for technical and business requirements for all the participants. NPCI, as the BBPCU, will also undertake clearing and settlement activities related to transactions routed through BBPS. Existing bill aggregators and banks are envisaged to work as Operating Units to provide an interoperable bill payment system irrespective of which unit has on-boarded a particular biller. Payments may be made through the BBPS using cash, transfer cheques, and electronic modes.<ref name="NPCI">{{cite web | url=http://www.npci.org.in/BBPS-about-us.aspx | title=NPCI - About Bharat Bill Payment System (BBPS) | publisher=National Payments Corporation of India | access-date=2 January 2017 | archive-url=https://web.archive.org/web/20170103012729/http://www.npci.org.in/BBPS-about-us.aspx | archive-date=3 January 2017 | url-status=dead }}</ref>

==Background==
The Committee headed by RBI Executive Director G. Padmanabhan was set up in 2013 to study the feasibility of implementation of [[Giro]] based [[Payment Systems]]. It had estimated that over 30,800 million bills amounting to ₹6223 billion are generated each year in the top 20 cities in the country.<ref name="RBI"/>

It was felt that integrated bill payment system is required in the country that could offer interoperable and accessible bill payment services to customers through a network of agents, allow multiple payment modes, and provide instant confirmation of payment. This should also serve as an efficient, cost-effective alternative to the existing systems and enhance consumer confidence and experience.

==References==
{{reflist}}

[[Category:Banking in India]]
[[Category:Payment systems]]
[[Category:Payment and settlement systems in India]]

{{India-econ-stub}}

Bharat Bill Payment System - Revision history

>Pradip4india at 10:01, 30 June 2021

2402:3A80:A80:1B63:0:28:3D4D:3C01: /* Background */ Fixed typo