PAYHYVE

Powered By BBPS

WHAT IS BBPS?

  • “Cashless Payments” are the need of the hour and that is exactly what we are witnessing
    in India with NPCI’s launch of UPI. To fuel the cashless transaction, NPCI has spun off
    BBPS for all bill payment-related programs and activities.
  • Bharat Bill Payment System (BBPS) is an integrated bill payment system launched by the
    National Payments Corporation of India (NPCI) in 2016 to provide a one-stop solution for
    all types of bills.
  • It is one of the evolving game-changers in the bill payment industry poised to
    revolutionize the way customers pay their bills.
  • With its secure, convenient, and efficient platform, BBPS is making bill payment a hasslefree experience for customers

BBPS OBJECTIVES

  • Bharat Bill Payment System eases the payment of bills and improves the security & speed
    of payments through the central unit (BBPCU) & operating units (BBPOUs)
  • The system is accessible anytime from anywhere, making it convenient for the customers.
  • The system increases the trust of the customers by providing reliable services.
  •  The multiple numbers of payment modes is an added advantage.
  • The system provides on the spot payment confirmation making it easily verifiable.

HOW BBPS WORKS? – STEP BY STEP

  • Using Customer Interfacing Apps such as Gpay, 1Pay, PayTM, CRED or the like, customers
    can perform bill fetch and payment activities
  • Customer selects the category, selects the biller, and enters the key parameters to fetch
    respective bill details
  • Customer selects the mode of payment – UPI, card, Net banking, wallets, AEPS, etc
  • Payment is processed and customer gets a payment confirmation instantly
  • Biller also gets the update on payment and the settlement is done within agreed time
    frame.

BENEFITS OF BBPS FOR THE BILLERS

  • Quick and easy real-time e-presentation of bills and quick e-payment collection.
  • Reduced systemic risks in collection and settlement process.
  • Reduction in the expenditure that billers incur on collection of bills at their own collection
    centres.
  • Substantial reduction in the entry barriers for small billers and billers with restricted
    geographic presence in the mainstream e-payment systems.
  • The Billers can offer a number of value-added services related to bill payments to their
    consumers by the BBPOUs in due course of time.