Bharat Bill Payment System (BBPS) is a Reserve Bank of India (RBI) conceptualised system which offers integrated, accessible and interoperable bill payment services to consumers across geographies with certainty, reliability and safety of transactions. It offers bill payment services to consumers through network of agents/retail shops/bank-branches and digital channels like Internet banking of banks, Mobile app of banks etc. allowing multiple payment modes like Card, UPI, AePS, Wallet, Cash and provides instant confirmation. It will facilitate a less cash society through migration of bill payments from cash to electronic channel.
Online Utility Bill Payment Business is a profitable business for small entrepreneurs and shop owners to add extra income. As India is moving towards digital transactions so making online payments is profitable business as water bill, electricity bill, gas bill, post-paid bill, internet bill etc. become online. EZYPAY utility bill payment franchise is very easy to own as you just need to have your own shop and Smartphone or laptop.
Interoperability: BBPS is an integrated online bill payment business platform that connects bank and non-bank entities at bill aggregation, billing, payment service providers, and retailers.
Accessible: Facilitates continuous payment of invoices through any channel, including models supported by BC / Agent branch / bank branch / representative contacts.Integration: BBPOU (About Bharat Bill Payment Operating Unit), i.e. Banks / Non-Banks, should be connected only to BBPCU (Central Payment Unit of Bharat) and NPCI (National Payments Corporation of India). The billers need to connect to a single BBPOU so that all customers can pay their bills.
Compensation and Settlement: Use standardized rules/guidelines to make multiple liquidation and guaranteed settlements between different parties.
Complaint Management: BBPS will introduce a standardized complaint management system to handle customer complaints in all types of transactions.
Customers will enjoy the ease of paying bills anywhere, anytime by simply connecting to the BBPS network, online or through agents.
Access to the system will be available everywhere, including the zero or minimum banking region.
Earn highest commission in market in each BBPS transaction.
Earn highest commission in market in each BBPS transaction.
Payment of any invoice could be made through a single portal.
Service centres for the payment of bills will be available at the workplace or residence closest to the client.
Bank branches, ATMs, customer service centres, etc., could be the point of sale of BBPS. A customer could make the payment from any BBPS point of sale.
Security and reliability could be entrusted to the clients with the use of this system.
Interoperable: BBPS will be an integrated platform connecting banks and non-banks in bills aggregation business, Billers, payment service providers and retail bill outlets Interoperable.
Accessible: Facilitate seamless payment of bills through any channel Digital and physical.
Cost-effective: Most cost-effective for entire ecosystem – Flat fee charge vs current ad valorem.
Control: Payment of bills via one-platform.
Accessibility: Facility of paying bills digitally (Internet, Mobile etc.) as well as physical outlets. Convenience, Time saving, Uniform experience and flexibility of payment channels. Reliable service with high degree of trust and security. Transparent pricing with instant payment confirmation. Unified Grievance Handling.