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Spice Digital gets approval for BBPS

News Updates 23 June 2016_html_m4afc169eSpice Digital, a Noida-based developer of mobile value-added services, mobile applications and internet products and services, received an in-principle approval from the Reserve Bank of India to operate under the Bharat Bill Payment System (BBPS). Out of the total 62 non-bank entities that applied for the license, only seven got the approval. Apart from Spice Digital, Oxigen, PayU India, Paytm, Euronet, TechProcess and BillDesk are the recipients. Saket Agarwal, CEO of Spice Digital said Spice Digital along with those companies that have received in-principle approval to join the single bill payment system have to submit system audit reports and obtain certification from NPCI to get final authorization to commence business. The integrated bill payment system is expected to be interoperable, accessible to customers through a network of agents, allow multiple payment modes and provide instant confirmation of payments.

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