SRINAGAR: HDFC Bank has gone live with the Bharat Bill Payments System (BBPS) on its net banking website. The BBPS is a centralized system where banks and non-banks can allow a network of agents to access bill payment services in an interoperable manner.
Using manual as well as automatic modes, the NPCI wants to create massive agent networks and POS kiosks, which would act as gateways to accept every type of bill payment.
To recap, the BBPS allows billers to collect recurring payments for services provided by utility service providers. Gradually, the scope will be extended to include services facilitating the collection of other types of repetitive payments, such as school and university fees, municipal taxes and payments etc.
The central unit for the BBPS is the National Payments Corporation of India (NPCI) and there are 37 banks and seven non- banks who act as operating units. On the BBPS, a customer can pay a bill even if an operating unit does not have a direct agreement for bill payments.