Bharat Bill Payment System Current Affairs, GK & News
In a consumer friendly initiative, Reserve Bank of India (RBI) has expanded the scope and coverage of Bharat Bill Payment System (BBPS) to include all categories of billers who raise recurring bills and payments (except prepaid recharges) as eligible participants, on a voluntary basis. Key Highlights With the expansion of the scope of payment facility, ..
Category: Economy & Banking Current Affairs
The Reserve Bank of India (RBI) report “Benchmarking India s Payment Systems” provides a comparison of the payment ecosystem in India with the payment systems and usage trends in other major countries. Findings of the Report Even though there was robust growth in the volume of retail electronic transactions amid a strong regulatory framework, India ..
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 ..
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
The National Payments Corporation of India (NPCI) has given a nod to Spice Digital Ltd. for processing bill payments under the Bharat Bill Payment System (BBPS) as a Bharat Bill Payment Operating Unit (BBPOU). Spice Money Ltd, a fintech company had received an in-principle approval to set-up as a BBPOU under the Payment and Settlement ..
Canara bank launched two digital products: Bharat QR and Bharat Bill Payment System (BBPS) for online payments
The Canara Bank has recently launched two digital products: ‘Bharat QR’, a platform for payment settlement at merchant locations, and Bharat Bill Payment System (BBPS) is an integrated bill payment system for Net banking customers. The first service is a mobile application, which enables a merchant to accept payments as settlement for sale of goods ..
Topics: Bank • Banking in India • Bharat Bill Payment System • Economy • Financial services • Money • National Payments Corporation of India • Online banking • Payment • Payment and settlement systems in India • Payment systems