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Automatic bill payments transferred by NPCI to new subsidiary

The National Payment Corporation of India (NPCI) has transferred all its Bharat Bill Payment System (BBPS) transaction mandates to a new subsidiary called the NPCI Bharat BillPay Limited (NBBL), which effectively hived its automated bill payment business. The BBPS is an inter-operable bill payments platform used by Banks, Fintech companies and biller merchants so as to automate the bill collection and request solutions.

Sources close to ET informed that both NPCI as well as RBI believed that BBPS has a massive growth ceiling especially as a B2C payment platform for small businesses offering monthly solutions to the customers.

Source: Economic Times

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