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Bharat Bill Payment System (BBPS) of India

IndianMoney.com Research Team | Posted On Wednesday, January 30,2019, 05:16 PM

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Bharat Bill Payment System (BBPS) of India

 

 

What is Bharat Bill Payment System?

Bharat Bill Payment System BBPS, is an online platform conceptualised by the RBI. This platform was launched to ease the process of paying bills and improving the efficiency and security of bill payment. It has developed a service that incorporates all kinds of bill payment services and is accessible to customers across India. It makes the payment process simple and secure. The service is available for payment of different kinds of bills and incorporates different modes of payment like online payment and payment through a network of agents.

BBPS has a wide variety of payment options like make full, partial, multiple payments. It also gives the user options to choose the mode of payment like Credit/Debit CardNet BankingWallet and UPI. Through this system, you can pay a variety of bills like school fees, university fees, taxes, insurance premiums and so on. It is a step forward to making India less dependent on cash transactions.

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Bharat Bill Payment System (BBPS) of India

How Bharat Bill Payment System (BBPS) Works?

To enjoy the benefits of Bharat Bill Payment System, a customer must register himself. The process is very simple and can be done by physically visiting the nearby BBPS retail outlets or by visiting the online website of BBPS.

For registration, you must provide personal details like Name, Address, Email, Mobile Number and an Identity Proof. On registering you get a customer ID. The customer can visit the retail outlets or the official website to pay bills through BBPS.

Bharat Bill Payment System Participants:

The BBPS is a comprehensive payment system that integrates various participants to help establish an efficient payment system. Listed below are the participants of the BBPS:

  1. Customer: A consumer is the entity who wants to make a bill payment to a biller who is a part of the BBPS system.
  2. Agents: Agents are the customer touch points and service points in the BBPS Ecosystem, which will be available to customers in the form of Branch offices, Collection Centres, Retail Outlets and Other Service Points.
  3. Billers: Billers are the service providers who collect payments from customers and participate in Bharat Bill Pay through Bharat Bill Payment Operating Unit.
  4. BBPOU:  BBPOU stands for Bharat Bill Payment Operating Unit. These are the banks authorized by RBI to handle payments and also effective aggregation of payment services relating to bills under the scope of BBPS.
  5. BBPCU: BBPCU stands for Bharat Bill Payment Central Unit (BBPCU) which is responsible for setting business standards, rules and procedures for technical and business requirements for all participants.

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Benefits of Bharat Bill Payment System:

The BBPS offers an array of benefits to users. A customer can manage and pay bills under a single system and can access this facility anytime, anywhere. The customer has the option of choosing the mode of payment like online payment via Credit/Debit Card, Net Banking and Wallets and offline payment via Cash, Card and so on. This helps the user in faster settlement of bills. Listed below are some of the benefits of BBPS:

Benefits for customers:

  1. Simple, reliable and efficient mode of payment.
  2. Provides transparency in payment of bills and gives instant confirmation on a successful payment.
  3. A safe and secure platform for payment of bills backed by the Union Government.
  4. Provides online and offline payment system and different modes of payment to ease the payment process.
  5. Provides effective complaint management system to handle complaints and grievances.

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Benefits for Billers:

  1. Enables faster settlement of payments.
  2. Low entry barriers for small billers and provides facilities for easy registration.
  3. Enables wider reach through different channels.
  4. Lower CAPEX and OPEX due to reduced investment.

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Benefits for BBPOU:

  1. Standard interface and consolidated reports.
  2. Access to billers through a single channel.
  3. Maximized reach to customers through online and offline methods.
  4. Revenue opportunity and low cost transactions.

FAQs

How to make bill payment digitally via Bharat Bill Pay?

A customer can choose to pay bills online through the BBPS. The BBPS facilitates a plethora of payment modes like Internet Banking, Credit/Debit Card payments, IMPS, UPI, Mobile Wallets and so on. Through the BBPS, transactions can be initiated through Multiple Digital Payment Mode to ease the process of payment.

How do I know that bill has been paid?

Once the bill is paid, the customer will receive a successful transaction status along with BBPS bill receipt in Email or SMS form. The customer gets instant confirmation on successful payment of bills.

Can I pay bill via BHIM App?

To make payments through the BHIM App the user must download the app. Given below are the steps to make payments through the BHIM App:

  • Login to the BHIM App.
  • Go to the ‘Bill Pay’ section.
  • Select the ‘Biller’ category i.e. Gas/ Electricity/ DTH/ Mobile/ Water.
  • Select the ‘Biller’ for the bill to be paid.
  • Enter your customer ID and bill details.
  • The bill amount is displayed.
  • Select the payment option.
  • Click on pay to complete transaction

What are the benefits?

The BBPS provides the benefit of managing all types of bills at a single location. The customer can use this platform to pay bills on the go and keep a record of all payments. The transactions can be carried out both physically by visiting the BBPS outlets or through online options like net banking and wallets/ card payments. 

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