December 29, 2016 7:18:44 pm
Mobile wallet MobiKwik announced that users across the country will be able to pay their utility and convenience bills using its wallet.
The company has got in-principle approval from the Reserve Bank of India (RBI) to set up a Bharat Bill Payments Operating Unit (BBPOU), it said in a statement here.
It will now be integrated with Bharat Bill Payment System (BBPS), a bill payment system by NPCI, offering inter-operable and accessible bill payment service to customers through a network of agents, it added.
“We are determined to serve the entire country with digital payments and enable Indians from rural or urban areas in making seamless and secure payments from their mobile phones,” said Bipin Preet Singh, co-founder of MobiKwik. Bharat Bill Payment System (BBPS) is a tiered structure for operating the bill payment system in the country under a single brand.
National Payments Corporation of India (NPCI) will function as the authorised Bharat Bill Payment Central Unit (BBPCU), which will be responsible for setting business standards, rules and procedures for technical and business requirements for all the participants, MobiKwik said.
In its initial phase beginning this month, BBPS will cover repetitive payments for everyday utility services such as electricity, water, gas, telephone and Direct-to-Home(DTH).
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