Bharat Bill Payment System

Sep 17, 2019 | by Avantis RegTech Legal Research Team

Industry Specific Compliance

The Reserve Bank of India (RBI) on September 16, 2019, issues guidelines on Bharat Bill Payment System (BBPS) to implement an integrated bill payment system in the country that offers interoperable and accessible bill payment services to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. Bill payment is a major component of the retail payment transactions. BBPS will function as a tiered structure for operating the bill payment system in the country with a single brand image providing convenience of ‘anytime anywhere’ bill payment to customers.

The BBPS is an interoperable platform for repetitive bill payments, currently covers bills of five segments like direct to home (DTH), electricity, gas, telecom and water. Thus, RBI has decided to expand the scope and coverage of BBPS to include all categories of billers who raise recurring bills (except prepaid recharges) as eligible participants, on a voluntary basis.

[Notification No. RBI/2019-20/61 DPSS.CO.PD.No.605/02.27.020/2019-20]


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