Mumbai: Axis Bank, India’s third largest private sector bank and National Payment Corporation of India (NPCI), the nodal agency to operate integrated bill payment systems in the country, today announced the launch of Bharat Bill Payment System (BBPS) initially for select billers from the electricity, gas, telephone and DTH segments.
The facility offers interoperable and accessible bill payment service to customers, providing instant confirmation of payment.
Axis Bank, is proud to be one of the first banks to introduce to its customers enhanced convenience of allowing them to pay multiple bills on a single platform. Currently the service would be available to customers in select branches which would be expanded in a phased manner.
The customers too, would subsequently be able to pay their bills across different channels such as Internet banking, online website, Mobile banking, etc. Bharat Bill Payment System is expected to encompass a wide range of billers across different categories all over India, as per regulatory approvals.
Bharat Bill Payment System (BBPS) is an integrated bill payment system in India offering bill payment service to customers (both Individual and corporates) through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment made. This would also serve as an efficient, cost-effective alternative to the existing systems and enhance consumer confidence and experience
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