Bharat Bill Payment System

- Initiated by: RBI
- Managed by: NPCI
- Purpose: To create a one-stop payment platform for all types of bills, ensuring interoperability and accessibility.
- Features: Certainty, reliability, and safety of transactions with instant payment confirmation.

- Participants:
● Banks and Non-Banks: Involved in the bill aggregation business
● Billers: Service providers
● Payment Service Providers: Facilitators of the payment process
● Retail Bill Outlets: Physical locations for bill payments

- Benefits :
● Unified Platform: By aggregating various providers.
● Flexibility: Offers multiple payment methods.
● Real-Time Confirmation: Ensures that payments are confirmed instantly, enhancing user confidence.
● Expanded Reach: Facilitates bill payments across diverse geographic locations and service categories.

Source : Financial Express

#review #sankalp

Check Our Students dedication and discipline !!

Quality Content + Discipline = Results!!