The Reserve Bank of India (RBI) said that this can help crores of prepaid phone subscribers in the country.
Bharat Bill Payment System
The Reserve Bank of India (RBI) said that while expanding the scope of Bharat Bill Payment System (BBPS) by August 31 this year, the facility of ‘Mobile Prepaid Recharge’ will be added as a biller category. The central bank said that this can help crores of prepaid phone subscribers in the country. In September 2019, expanding the scope and scope of BBPS, billers of all categories (except mobile prepaid recharge) were added on voluntary basis as eligible participants.
Earlier, the facility of paying recurring bills through BBPS was available in only five segments which include Direct to Home (DTH), Electricity, Gas, Telecom and Water. In a circular, the Reserve Bank said, with regular enhancement in different biller categories and in order to facilitate the mobile prepaid customers to have more options for making recharges, BBPS will be included in the biller category ‘Mobile Prepaid Recharge’ on a voluntary basis. ‘ It was decided to approve.
110 crore prepaid subscribers as of December 2020
There were 110 crore prepaid phone subscribers in India in December 2020. The Reserve Bank said that the facility of mobile prepaid recharge through Bharat Bill Payment System will be implemented on or before August 31. BBPS is an integrated bill payment system that provides online interoperable bill payment service to the customers. It also provides this facility offline through the network of agents.
BBPS works under the National Payments Corporation of India (NPCI).
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