Personal Loan

Introduction on Bharat Bill payment system (BBPS)

Bharat Bill Payment System (or Bharat Bill Pay) offers real time bill payment services to customers providing convenience of ‘anytime anywhere’ bill payment to customers. BBPS is Reserve Bank of India conceptualized and with effect from 1st April 2021 NPCI Bharat BillPay Limited (NBBL), a wholly owned subsidiary of NPCI, managed bill payment system in the country. BBPS is an interoperable bill payment services to customers through a network of agents, allows multiple payment modes providing instant confirmation of payment. BBPS facilitates collection of repetitive (monthly, bi-monthly, quarterly, annually, etc.) payments for everyday services. BBPS facilitates bill payments/recharge for various categories such as Electricity, Water, Piped gas, DTH recharge, Telecom post-paid, Municipal Taxes and Services, Mutual Funds, Credit cards, Institution fees (School and colleges), Insurance premium, Housing society, FASTag Recharge, Metro Recharge, Booking and Payment of LPG Gas Cylinder, Subscriptions, Loan repayment, Cable, Hospital Collection, Recurring Deposit/ EMI Deposit/ Installment Deposit, Clubs and associations, Mobile prepaid etc. Eligibility: Bank of Baroda provides Bill Payment services to both Bank of Baroda and other bank customers.

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Benefits of BBPS For customers:

BBPS provides interoperability so that consumers can pay bills of any biller at a single point with its widespread network leading to easy accessibility. BBPS facilitates payments via multiple modes i.e. Net banking, Mobile banking, UPI app, Bank Mitra Points, etc. Instant confirmation of BBPS payment in the form of SMS/ email/ print out. BBPS brand assures trust and confidence amongst consumers for the certainty, reliability and safety of the transaction. 24 X 7 Anywhere utility for bills payments & recharges. No extra charge is being collected by the Bank for this service to the Bank of Baroda customers for electronic transactions. Only Rs. 2 +GST is applicable for Bill payments at BC point and excluded for DTH, Credit card and LPG Gas categories. For billers: Single integration. No need to integrate with multiple Banks/ organisations. Wider reach through multiple channels and payment modes. Improved liquidity due to faster payment collection. Reduced investment. Lower transaction cost.