Digital payments to get a leg-up

Chennai: RBI wants to expand the scope of digital payments by including more utilities under Bharat Bill Payment System and providing on-tap authorisation for new payment platforms.  

The Bharat Bill Payment System (BBPS) currently covers five utility segments —direct-to-home (DTH),  electricity, gas, telecom and water bills.

“In order to leverage the advantages of the BBPS and harness its full potential, it has been decided to permit all categories of billers, except prepaid recharges, who provide for recurring bill payments to participate in BBPS on a voluntary basis,’ RBI said.

Customers will benefit from standardised bill payment experience, centralised customer grievance redressal mechanism and prescribed customer convenience fee.