The Reserve Bank of India (RBI) on Monday allowed prepaid mobile recharge through the Bharat Bill Payment System (BBPS). Mobile recharge through BBPS will be allowed from or before August 31, 2021.
"With consistent growth in different biller categories and to facilitate mobile prepaid customers with more options to recharge, it has been decided to permit 'mobile prepaid recharges' as a biller category in BBPS, on a voluntary basis," RBI said in a notification.
BBPS is a RBI conceptualised ecosystem driven by the National Payments Corporation of India (NPCI). It is a one-stop ecosystem for all recurring bills providing an interoperable and accessible anytime, anywhere recurring payment service.
It offers bill payment services to consumers through network of agents/ retail shops/ bank-branches and digital channels like internet banking of banks, mobile app of banks, among others, allowing multiple payment modes like Card, UPI, AePS, wallet, cash and provides instant confirmation.
Till now, BBPS had all categories of billers which raise recurring bills, except mobile prepaid recharges, as eligible participants, on a voluntary basis.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today