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Non BBPS payments via 3rd party apps to be stopped by RBI forcing all banks to register as BBPS billers

plastikman

TF Legend
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RBI has directed all CC payments to be made using BBPS only.

3rd party apps to stop non bbps card payments from 1st July onwards.

Banks who are not registered as a BBPS biller have been given time till 30th June but 90 days extension has been sought from RBI.
 

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Mai yeh Fafafati news dene he aa raha tha.

Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies.

Among the 34 banks that are allowed to issue credit cards, only eight are live on BBPS. So this means that after June 30, the customers of all the other 26 banks will be left to pay their credit card bills through auto debit mandates or net banking. The industry body for payment companies, the Payments Council of India (PCI), has petitioned the regulator for an extension, which is yet to be granted.

@VISHESH_BANSAL
 
Mai yeh Fafafati news dene he aa raha tha.

Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies.

Among the 34 banks that are allowed to issue credit cards, only eight are live on BBPS. So this means that after June 30, the customers of all the other 26 banks will be left to pay their credit card bills through auto debit mandates or net banking. The industry body for payment companies, the Payments Council of India (PCI), has petitioned the regulator for an extension, which is yet to be granted.

@VISHESH_BANSAL
Why you tagged me ?🤣
I do not have authority to give extension🤣
 
This means cred type business going to extinct.

Cred/Cheq be like- me job chhod du?
Not in next 1 yr atleast. Because even after on-boarding there will be glitches which will sorted out in phases.

Two opportunities: RUPAY cc to another cc may live soon🤣😂

Axis and HDFC cards will support BBPS, so instant credit
@Abhishek012
 
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