BBPS Revolutionizes Bill Payments in Bharat

BBPS has made bill payments in Bharat a seamless experience. It's a game-changer for people who struggle with paying bills on time.

With BBPS, users can pay their bills from the comfort of their own homes, 24/7. This is a huge relief for those with busy schedules.

BBPS is a payment system that allows users to pay their bills from a single platform. This eliminates the need to visit multiple biller websites or branches.

BBPS has partnered with over 100 billers to provide users with a wide range of bill payment options. This includes utility bills, credit card payments, and more.

BBPS, or Bharat Bill Payment System, is a digital payment system in India.

It was launched in 2019 by the National Payments Corporation of India (NPCI) to facilitate bill payments across various categories.

BBPS allows users to pay bills from the comfort of their homes or on-the-go.

The system provides a seamless and secure experience for users, with features like instant payment confirmation and 24/7 customer support.

BBPS has partnered with over 100 billers, including electricity, gas, water, and telecom service providers.

These billers offer a wide range of payment options, making it convenient for users to pay their bills.

BBPS has also introduced features like recurring payments and payment reminders to help users stay on top of their bills.

The system uses advanced security protocols to ensure the safety of user data and transactions.

BBPS has become a popular choice for bill payments in India, with millions of users relying on it for their payment needs.

CRED has processed over INR 15,000 Cr in credit card bill payments via BBPS in a single month, showcasing the platform's significant influence in the payments ecosystem.

Members have used the platform to settle credit card dues amounting to INR 13.2 Lakh Cr, with 4 million users seeing their credit scores improve due to timely payments.

This has resulted in members collectively avoiding over INR 981 Cr in late fees, highlighting the benefits of using BBPS for credit card payments.

You can now make National Pension System (NPS) contributions through the Bharat Bill Payment System (BBPS), a unified and accessible platform designed to facilitate recurring digital payments.

BBPS offers a convenient way to make NPS contributions, allowing subscribers to use popular payment apps like BHIM, PhonePe, and Google Pay.

The charges for using BBPS are minimal, with a fee of Rs. 0.50 per transaction for both lumpsum and Systematic Investment Plan (SIP) contributions, and a one-time Rs. 4.00 fee for SIP mandate registration, plus applicable GST.

These charges are displayed and collected upfront during the payment process, and are to be borne by the subscribers.

Initially, BBPS will support only lumpsum contributions, which will be settled on a T+1 basis, and any unsettled contributions will be refunded within 5 working days.

Here are the charges for making NPS contributions through BBPS:

*plus GST as applicable

CRED has processed over INR 15,000 Cr in credit card bill payments via BBPS in July, demonstrating its growing influence in the payments ecosystem.

This high volume is a testament to the platform's effectiveness in facilitating credit card payments. CRED has also helped 14 million members settle their credit card dues amounting to INR 13.2 Lakh Cr.

These users have collectively avoided over INR 981 Cr in late fees. CRED claims that over 4 million users saw their credit scores improve due to timely payments.

Here are some key statistics highlighting the impact of CRED:

CRED has made significant strides in integrating with the Bharat Bill Payment System (BBPS). This integration allows users to access a wide range of billers on the BBPS platform, ensuring a more convenient and efficient bill payment experience.

With the COU certification, CRED can now process credit card bill payments via BBPS, aligning with the Reserve Bank of India's recent mandate. This mandate requires all credit card payments made through third-party apps to be routed through BBPS to centralize the payment process and enhance security.

CRED's certification as a COU also enables it to partner with large billers and banks on the BBPS channel, facilitating seamless payment experiences for its users. This is a major advantage for users who want to make payments without any hassle.

CRED has introduced a new feature called CRED Guarantee, which ensures timely repayment of credit card outstanding amounts. If users clear their dues in full on the platform before the due date, CRED will cover any late fees incurred.

Here are the key benefits of CRED's integration with BBPS: