NPCI sets up a new subsidiary firm NPCI Bharat BillPay
By Leandra Monteiro
National Payments Corporation of India (NPCI) recently announced the formation of its wholly-owned subsidiary firm – NPCI Bharat BillPay Ltd (NBBL). The newly set up entity came into effect from April 1, 2021.
The brand under the new entity will be known as Bharat BillPay. It has on offer various recurring payment services to customers, including bill payments for electricity, telecom, DTH, Gas, Education fees, water and municipal taxes, NETC FASTag recharge, Loan repayments, Insurance, Cable, Housing Society, Subscription Fees, Hospital, Credit card, Clubs and association, etc.
Bharat BillPay is constantly working towards upgrading payment infrastructure for recurring payments across the country in order to provide safe and convenient experience to customers, thereby eliminating the need of going around to multiple biller touch points.
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. An initiative of RBI and IBA under the provisions of the Payment and Settlement Systems Act, 2007, NPCI was initiated for creating a full-bodied payment and settlement infrastructure in the country.
NPCI works towards transforming the way payments are made in India through a bunch of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC) and Bharat BillPay. NPCI also previously launched UPI 2.0 to offer a more secure and comprehensive services to consumers and merchants.
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