The Reserve Bank of India has given approval to Andhra Bank and Federal Bank to launch Bharat Bill Payment Service soon to enable customers make all utility bill payments. According to MD and CEO of Andhra Bank Suresh N. Patel, RBI gave its approval for the launch and the service should be operational by September. According to Babu K.A., head – Digital Banking, Federal Bank, the bank is one among the first batch of banks cleared by RBI to operate under BBPS. The bank will be able to offer this service to the customers in 2 months from now, he said, adding this service will be in addition to the bank’s mobile banking services such as FedMobile and Scan N pay, QR code based payment app. Patel of Andhra Bank said the bank would also soon launch User Payment Interface that enables customers to carry out money transfers using their mobiles. BBPS is an integrated system that brings all bill generators in one platform thus offering interoperable service to customers to make payment for a variety of bills through multiple modes. BBPS is beneficial to the service providers/bill generators of utility services such as electricity, water, gas, telephones etc on two counts.
