India Post Payments Bank Enables Recurring Payments at Doorstep with NPCI Bharat BillPay Ltd.
India Post Payments Bank Enables Recurring Payments at Doorstep in Collaboration with NPCI Bharat BillPay Ltd.
Revamped bill payments platform will provide both IPPB and non-IPPB customers with a convenient doorstep payment solution
Mumbai/New Delhi – 10 December 2021: India Post Payments Bank (IPPB) and NPCI Bharat BillPay Ltd., the wholly-owned subsidiary of National Payments Corporation of India, today announced facilitating cash-based assisted bill payments anywhere in the country at customers doorstep through the Bharat BillPay platform. The platform will also enable all non-IPPB customers to pay bills for various utility and other recurring services.
The bill payments service will benefit millions of unbanked and underserved customers in remote locations who will now be able to access payment solutions at their doorstep. Customers will now be able to conveniently pay for their recurring bills not only from the comfort of their homes but also by visiting their nearest post office. IPPB has also revamped its bill payments platform by including the best-in-class product features and various user interface-related enhancements. With this upgrade, over 20,000+ billers that are on Bharat Bill Payment System will be available to customers of various banks and IPPB.
Some of the new features of the upgraded version of Bharat BillPayare:
· Pay any recurring bills through cash mode
· Updated transaction history with maximum details
· Set transaction alerts and reminders
· Updated on screen user experience
· Raise/track complaints online for bill payment transactions
· Addition, selection, and modification of billers
· Enabling notifications, snooze alerts & reminders
Speaking on the initiative, J. Venkatramu, MD & CEO, IPPB said, “With this collaboration, NPCI Bharat BillPay Ltd. and IPPB are set to empower citizens by enabling bill payments at the doorstep through our ubiquitous network of Gramin Dak Sevaks and Postal staff. Leveraging the last mile network of Department of Posts and IPPB’s technology driven digital banking platform, Bharat BillPay offers a one-stop ecosystem for payment of all bills providing an interoperable and accessible anytime anywhere bill payment service to all customers across India with certainty, reliability and safety of transactions.”
Noopur Chaturvedi, CEO, NPCI Bharat BillPay Ltd. said, “We are glad to associate with India Post Payments Bank that will give Bharat BillPay the wings to reach out to residents in the remotest part of the country. We believe that this alliance will transform the bill payments segment as the customers are now empowered to pay their bills as per their convenience – be it by sitting at home to our trusted Postman or visiting the nearest post office. We hope this revolutionary initiative will act as a change catalyst in furthering financial inclusion in India.”
Both IPPB and non-IPPB customers will be able to make recurring transactions such as mobile postpaid, D2H recharge, school fees, and other utility services by using bank’s mobile banking service. They will also be able to see updated transaction history, set transaction alerts & reminders, and raise/track complaints online for Bharat BillPay transactions using the IPPB digital banking platform.
Currently, Bharat BillPay offers recurring payment services to customers across several segments like electricity, DTH, gas, education fees, water, NETC FASTag recharge, loan repayments, health and life insurance, cable TV subscription fees, mobile postpaid & prepaid recharges, municipal services and taxes, clubs and associations membership fees, hospital and pathology tests and others.
Transactions on Bharat Bill Payment Central Unit have touched 60.62 mn by volume and Rs10,530.2 crores by value for over 20,349 billers in October 2021. It is growing rapidly on account of the ease and accessibility it offers to the customers and the one-stop solution to billers for low-cost collections.
About India Post Payments Bank
India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched by the Hon’ble Prime Minister Shri Narendra Modi on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of IPPB is to remove barriers for the unbanked & underbanked and reach the last mile leveraging a network comprising 155,000 post offices (135,000 in rural areas) and 300,000 postal employees.
IPPB’s reach and its operating model is built on the key pillars of India Stack - enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers' doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages. IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. Our motto stands true - Every customer is important; every transaction is significant, and every deposit is valuable.
For further information on IPPB, visit www.ippbonline.com
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organisation for operating retail payments and settlement systems in India. An initiative of RBI and IBA under the provisions of the Payment and Settlement Systems Act, 2007, NPCI was initiated for creating a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC) and Bharat BillPay. NPCI also launched UPI 2.0 to offer a more secure and comprehensive services to consumers and merchants. NPCI is focused on bringing innovations in the retail payment systems through use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.
About NPCI Bharat BillPay Ltd.
NPCI Bharat BillPay Ltd. is a wholly-owned subsidiary of National Payments Corporation of India. Came into effect from April 1, 2021, NBBL is growing rapidly on account of the ease and accessibility it offers to the customers and the one-stop solution to Billers for low-cost collections. The platform offers 20,000+ billers across multiple bank and non-bank channels.
For more information on NPCI, visit: https://www.npci.org.in/
For more information on NBBL, visit https://www.bharatbillpay.com/