The Reserve Bank of India (RBI) approves Spice Digital to process bill payments under BBPS
Published: August 28, 2017
The Spice Digital Limited (SDL) has received the final licence from the Reserve Bank of India (RBI), to process bill payments as a Bharat Bill Payment Operating Unit (BBPOU) in the Bharat Bill Payment System (BBPS). The BBPS is a RBI conceptualised system driven by National Payments Corporation of India (NPCI).
It is a one-stop payment platform for all bills providing an interoperable and accessible “Anytime Anywhere” bill payment service to all customers across India with certainty, reliability and safety of transactions. The headquarters of the Spice Digital is located at Noida in National Capital Territory of Delhi (NCR).
The company provides Telco Solutions, Value Added Services (MVAS), Enterprise Solutions, Financial technology, GSP and Digital transformation products and services. It is a subsidiary of listed entity S Mobility, which has diversified interests in telecom space.
Topics: Banking in India • Bharat Bill Payment System • Economy of India • Financial services • Mobile payments in India • Money • National Payments Corporation of India • Payment systems • Spice Digital