IPPB enables recurring payments through NPCI Bharat Bill Pay platform
The platform will also enable all non-IPPB customers to pay bills for various utility and other recurring services, noted IPPB in an official statement.
- Dec 10, 2021,
- Updated Dec 10, 2021 2:59 PM IST
India Post Payments Bank (IPPB) and Bharat BillPay, a subsidiary of National Payments Corporation of India (NPCI), announced on Friday that they will be facilitating doorstep cash-based assisted bill payments anywhere in the country through the Bharat BillPay platform.
The platform will also enable all non-IPPB customers to pay bills for various utility and other recurring services, noted IPPB in an official statement.
"With this collaboration, NPCI Bharat BillPay Ltd. and IPPB are set to empower citizens by enabling bill payments at the doorstep through our ubiquitous network of Gramin Dak Sevaks and Postal staff," noted J Venkatramu, MD and CEO, IPPB.
Venkatramu added that Bharat BillPay leverages the last mile network of the Department of Posts and IPPB's technology-driven digital banking platform to offer a one-stop ecosystem for payment of all bills to all customers across India with certainty, reliability and safety of transactions.
IPPB has stated that this service will benefit millions of unbanked and underserved customers in remote locations who will now be able to access payment solutions at their doorstep. It added that customers will be able to pay for their recurring bills not only from the comfort of their homes but also by visiting their nearest post office.
The bank has also revamped its bill payment platform by including new product features and various user interface-related enhancements. With this upgrade, over 20,000+ billers that are on Bharat Bill Payment System will be available to customers of various banks and IPPB.
"We believe that this alliance will transform the bill payments segment as the customers are now empowered to pay their bills as per their convenience - be it by sitting at home to our trusted Postman or visiting the nearest post office," said Noopur Chaturvedi, CEO, NPCI Bharat BillPay Ltd.
"We hope this revolutionary initiative will act as a change catalyst in furthering financial inclusion in India," Chaturvedi added.
Transactions on Bharat Bill Payment Central Unit have touched 60.62 million by volume and Rs1 0,530.2 crores by value for over 20,349 billers in October 2021.
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India Post Payments Bank (IPPB) and Bharat BillPay, a subsidiary of National Payments Corporation of India (NPCI), announced on Friday that they will be facilitating doorstep cash-based assisted bill payments anywhere in the country through the Bharat BillPay platform.
The platform will also enable all non-IPPB customers to pay bills for various utility and other recurring services, noted IPPB in an official statement.
"With this collaboration, NPCI Bharat BillPay Ltd. and IPPB are set to empower citizens by enabling bill payments at the doorstep through our ubiquitous network of Gramin Dak Sevaks and Postal staff," noted J Venkatramu, MD and CEO, IPPB.
Venkatramu added that Bharat BillPay leverages the last mile network of the Department of Posts and IPPB's technology-driven digital banking platform to offer a one-stop ecosystem for payment of all bills to all customers across India with certainty, reliability and safety of transactions.
IPPB has stated that this service will benefit millions of unbanked and underserved customers in remote locations who will now be able to access payment solutions at their doorstep. It added that customers will be able to pay for their recurring bills not only from the comfort of their homes but also by visiting their nearest post office.
The bank has also revamped its bill payment platform by including new product features and various user interface-related enhancements. With this upgrade, over 20,000+ billers that are on Bharat Bill Payment System will be available to customers of various banks and IPPB.
"We believe that this alliance will transform the bill payments segment as the customers are now empowered to pay their bills as per their convenience - be it by sitting at home to our trusted Postman or visiting the nearest post office," said Noopur Chaturvedi, CEO, NPCI Bharat BillPay Ltd.
"We hope this revolutionary initiative will act as a change catalyst in furthering financial inclusion in India," Chaturvedi added.
Transactions on Bharat Bill Payment Central Unit have touched 60.62 million by volume and Rs1 0,530.2 crores by value for over 20,349 billers in October 2021.
Also Read: IndusInd Bank share rises over 2% after LIC gets RBI nod to raise stake
Also Read: SBI's Internet banking services to be unavailable on December 11