Complete About Bharat Bill Payment System (BBPS) Online Registration - Sarkari Naukri Career

Monday, September 5, 2016

Complete About Bharat Bill Payment System (BBPS) Online Registration

Complete About Bharat Bill Payment System (BBPS) Online Registration

As part of PM Modi’s Digital India movement,
it is planned to Bharat Bill Payment System to bring ease and convenience to charge payments in India.

The system includes an online platform and physical outputs. BBPS is intended as generate invoices and paying bills in the country so it is possible the immediate payment and receipt of money.

In the first phase, payment of utility bills regularly, for example, water, electricity, gas, DTH television, phone bills, etc. will be achieved through this platform. Later it is planned to include all types of accounts, including tuition fees, insurance premiums, etc.

According to data presented by RBI, 20 major cities generate an invoice amount of Rs. 6.223 billion dollars a year. Customers have the need to physically move the outputs to pay bills or use their Web sites to pay their bills. Paytm and other platforms obviously facilitate the process, but RBI wants more control, unify and standardize their operations by BBPS.

The common advantage of the system is that the bills can be paid at any time anywhere. No need to stand for hours in line. Many practical ways, for example, payment of bills banking and online credit cards and mobile broadband, cash, etc. would be available for customers.

Across the country the means to pay the bills will be established. These payment methods also include banks and ATMs. Customers can withdraw money and pay the bills in one place.

These payments with the National Society of India payments network are insured and guaranteed. Receipts will be issued immediately after payment. The system also includes means to avoid any kind of fraudulent transactions.

BBPS that implies for public service providers receive payment? Undoubtedly, fewer complications and a more organized collections management system. Invoices will be generated and paid online. Companies should designate collectors. This means that the operating costs will be less. Because of this cost reduction, public service providers would be able to offer customers various types of value-added services.

Benefits for e-commerce

At that time, different platforms use different e-commerce payment gateways. Some are better than others, but they have no other option, once you acquire a particular online store.

With BBPS running, you can use a centralized payment system to pay all ecommerce platforms stored in the system. No need to load your personal information each time a new store as a new store. The most important thing is that your personal information will not be more mismanaged RBI sets standards for businesses of all these integrated e-commerce platforms.

Read Also: List Of Pradhan Mantri Yojana 2016

Benefits to the Payment Gateways

Existing payment gateways, for example, Paytm, Oxigen etc. It will not be affected anyway. They will be integrated into the BBPS for better service. The market is quite large and each company will have its own share. virtual portfolios offered by these companies would be available to pay any invoice generator.

Note: For more information candidates may visit the officialwebsite.