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NPCI launches Bharat Bill Payment System

National Payments Corporation of India today said it has launched the pilot project for Bharat Bill Payment System (BBPS) with 26 Bharat Bill Payment Operating Units.
•    BBPS is the Reserve Bank mandated system which will provide interoperable bill payment services to customers.
•    In the first phase, BBPS will cover repetitive payments for everyday utility services such as electricity, water, gas, telephone and direct-to-home (DTH), NPCI said in a statement here today.
•    Currently, the volume of bills being paid by cash is so large that even if 25 per cent of the bills get paid electronically, the impact would be visibly enormous, he said.
•    Some of the banking entities which are participating in the pilot project include -- AP Mahesh Co-operative Urban Bank, Axis Bank, Gopinath Patil Parsik Janata Sahakari Bank, HDFC Bank, ICICI Bank and IDBI Bank.

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