The Reserve Bank of India has started awarding in-principle approvals for selected entities who have applied for operating as Bharat Bill Payments Operating Units. According to RBI, 62 non-bank entities and 80 banks have applied for the authorization of BBPOU. Bharat Bill Payment System is an integrated bill payment system that will enable payment services online or through an offline network. Payment can be made through multiple modes and the users will get instant confirmation. In November 2015, RBI had granted in-principal approval to NPCI to function as Bharat Bill Payment central unit. RBI said the in-principle approvals to operate BBPOU are conveyed where the applicants meet all eligibility requirements including existing net worth and requisite billing experience as covered under the present scope of bharat bill payments system. It said it has commenced communicating the decision directly to applicants. According to a report, Oxigen Serivces is among those that can now operate as a BBPOU. Oxigen founder and chairman Pramod Saxena said Oxigen will be setting up a unit to on board a host of government payments under NPCI. Oxigen has a user base of 150 million and a 2,00,000 retail access points across the country that accept payment through Oxigen.
