Mumbai : The Reserve Bank of India (RBI) on Tuesday invited applications from entities engaged in bill payments and desirous to operate as Bharat Bill Payment System Operating Units.
The Bharat Bill Payment System (BBPS) will be an authorised payment system operated by National Payment Corporation of India (NPCI), RBI said in a notification. “To begin with, under BBPS the BBPOUs (Bharat Bill Payment System Operating Units) will function as entities facilitating collection of repetitive payments for everyday utility services, such as electricity, water, gas, telephone and Direct-to-Home (DTH),” RBI said. The scope of bills covered under the BBPS would gradually be expanded to include other types of repetitive payments. Entities currently engaged in such bill payment activities and desirous of continuing the activity are mandatorily required to apply for authorisation to RBI under the Payment and Settlement Systems (PSS) Act 2007.
