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Tag: Bharat Bill Payment System

  • TRAI pushes DTH cos for BHIM & Bharat QR payments

    TRAI pushes DTH cos for BHIM & Bharat QR payments

    NEW DELHI: The Telecom Regulatory Authority of India (TRAI) has asked direct to home operators (DTH) to enable digital payments via BHIM/UPI and Bharat QR code by onboarding billers on the Bharat Bill Payment System and print the QR code on DTH bills.

    The TRAI also said that DTH operators should enable at least two ofthe following options in all physical payment receipt counters:

    • Pull request through mobile number virtual payment address (VPA) wherein a request of bill amount is received on BHIM/ UPI enabled app of the customer.

    • Prominent display of printed static Bharat QR code on the billing counter to enable customer to scan and pay.

    • Dynamic Bharat QR code on a display facing the customer.

    They have also been asked to provide a visible discount to encourage digital payment over cash and hold campaigns to promote it. “The government is making efforts for promoting a less cash economy and digital payments in various utilities. To achieve this, the government is working with multiple stakeholders for promotion of digital payments,” it said.

  • PayU India gets approval to function as BBPU under the Bharat Bill Payment System (BBPS)

    PayU India gets approval to function as BBPU under the Bharat Bill Payment System (BBPS)

    MUMBAI: The Reserve Bank of India has given PayU in-principal approval to set up and operate Bharat Bill Payment System (BBPS).  PayU has been listed amongst the first non-bank entity that has been grated this license out of the total of 62 non-bank entities that applied for the said license.  BBPS is an is an integrated bill payment system in India, offering interoperable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. Consumers will be the ones who will get the maximum benefit out of this as they will be able to pay their bills anytime and anywhere in India.

    Underlining the significance of the BBPS for the payments ecosystem in India, PayU India co founder and COO Shailaz Nag  commented, “PayU is very hopeful about the prospects of BBPS. With BBPS, customers would be presented with the opportunity of easy bill payments for almost all Billers in the country. PayU would ensure that the most convenient and best in class user experience is delivered to its customers, thus encouraging more people to transact online. With the provisions of BBPS, PayU believes more serious players will apply for authorization to work as BBPOU with RBI. Further admittance of prominent industry players in the business will only enhance the country’s payment ecosystem”.  

    The BBPS license gives a big boost to PayU India’s efforts to create a meaningful difference in the payment ecosystem and strengthen its position as the leader in the utility bill payments segment. The idea is to offer efficient and cost-effective alternative to the existing payment systems and enhance consumer confidence and experience. PayU’s seamless technology coupled with the recent BBPS license will help PayU India to get one step closer to achieve its mission of “Simplifying payments and financial services for everyone”.

  • PayU India gets approval to function as BBPU under the Bharat Bill Payment System (BBPS)

    PayU India gets approval to function as BBPU under the Bharat Bill Payment System (BBPS)

    MUMBAI: The Reserve Bank of India has given PayU in-principal approval to set up and operate Bharat Bill Payment System (BBPS).  PayU has been listed amongst the first non-bank entity that has been grated this license out of the total of 62 non-bank entities that applied for the said license.  BBPS is an is an integrated bill payment system in India, offering interoperable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. Consumers will be the ones who will get the maximum benefit out of this as they will be able to pay their bills anytime and anywhere in India.

    Underlining the significance of the BBPS for the payments ecosystem in India, PayU India co founder and COO Shailaz Nag  commented, “PayU is very hopeful about the prospects of BBPS. With BBPS, customers would be presented with the opportunity of easy bill payments for almost all Billers in the country. PayU would ensure that the most convenient and best in class user experience is delivered to its customers, thus encouraging more people to transact online. With the provisions of BBPS, PayU believes more serious players will apply for authorization to work as BBPOU with RBI. Further admittance of prominent industry players in the business will only enhance the country’s payment ecosystem”.  

    The BBPS license gives a big boost to PayU India’s efforts to create a meaningful difference in the payment ecosystem and strengthen its position as the leader in the utility bill payments segment. The idea is to offer efficient and cost-effective alternative to the existing payment systems and enhance consumer confidence and experience. PayU’s seamless technology coupled with the recent BBPS license will help PayU India to get one step closer to achieve its mission of “Simplifying payments and financial services for everyone”.