With an aim to enrich and simplify bill payments, NPCI Bharat BillPay Ltd (NBBL), the wholly-owned subsidiary of National Payments Corporation of India has introduced a unique functionality called Unified Presentment Management System (UPMS).
NBBL through UPMS will enable the customers to set up standing instructions – from any channel and for any mode on their recurring bill payments. The bills will be automatically fetched from the billers and presented to customers for their action, in terms of auto-debit and bill payment management. With the UPMS launch, the intent is to enable all the Bharat BillPay Operating Units (BBPOU) to extend this facility to their customers/corporate clients with minimal effort through the centralized infrastructure and application support provided by Bharat BillPay Central Unit (BBPCU).
UPMS will help in democratizing recurring bill payments and making them further convenient for customers. UPMS provides a great opportunity for the service providers and fintechs of the digital payments ecosystem to run through this innovative feature in the sandbox environment of BBPS. Several Operating Units (OUs) and Technical Service Providers (TSPs) are actively coming forward in the rapid deployment of UPMS.
Leading ecosystem partners including Axis Bank and IDFC FIRST Bank amongst Private Banks and PhonePe amongst Consumer Tech companies are actively engaged in taking UPMS services to their Billers and Consumers, while many others are accessing the sandbox as a first step to deployment.
Noopur Chaturvedi, CEO, NPCI Bharat BillPay Ltd. said, “UPMS will add enhanced convenience in the bill viewing as well as payment experience for the customers as it will help them seamlessly create auto-mandates for their upcoming bills. For billers, UPMS eases the operational management of collections while reducing the infrastructure overheads on their systems that come during billing cycles. We truly believe that with the support of the ecosystem partners, this functionality will provide superior bill payments experience to millions of customers and service providers.”