Bharat BillPay marks 75% growth in transactions in March

Most modes of retail digital payments grew in volumes between August and September, with credit and debit cards and prepaid payment instruments (PPIs), or wallets, being the laggards, according to data released by the Reserve Bank of India (RBI). (Image: Reuters)
Most modes of retail digital payments grew in volumes between August and September, with credit and debit cards and prepaid payment instruments (PPIs), or wallets, being the laggards, according to data released by the Reserve Bank of India (RBI). (Image: Reuters)

One-stop bill payment platform Bharat BillPay has registered a 75 per cent year-on-year growth in the number of transactions at 31.5 million in March this year. The platform had recorded 18 million transactions in the same month last year.

“The primary reason behind growing acceptance of Bharat BillPay among consumers is the ease of making instant and safe bill payments to any biller of any state, city or region from anywhere in the country,” said Bharat Bill Payment System’s Chief Project Officer A R Ramesh.

A biller is a service provider/utility company who receives payment for the service rendered. The bill payment platform can be used to pay various utility bills like electricity, water, direct-to-home (DTH), telecom and gas pipeline.

Bharat Bill Payment System is a Reserve Bank of India (RBI) conceptualised ecosystem, managed by the National Payments Corporation of India (NPCI). At present, 61 banks and 10 non-bank entities function as Bharat Bill Payment operating units (BBPOUs) in the country.

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