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

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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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Centurion_wala said:
Thanks for sharing this. So, it doesn’t matter if someone spends 1L or 5L, both would end up only with 1k bonus points?
But then why do they write “1000 points per lakh spends”?
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The "In a Financial Year" also matters. So in whole FY it is once only. But if it is 1000 pts per lakh as said on right column to it, then on every 1 Lakh we are entitled for extra 1000.

Aslo, do not forget that in B'ay month although we get 2X points but per txn points are capped to 1000 max. If bill is, say, 75000 and you are paying in B'day month then split in two txns as 50K max. on a day and another next day or whenever you want. Monthly capping is 10K points including this 1000 per lakh. But no one can reach 10 Lakh spend in month or sleeper cell i.e IT Department will become active. 🤓 So be in limits and keep yearly spends within 5 Lakh per credit card and same with debit card or if you have income to show then 80-90% of income should be limit.
 
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desiviru said:
The "In a Financial Year" also matters. So in whole FY it is once only. But if it is 1000 pts per lakh as said on right column to it, then on every 1 Lakh we are entitled for extra 1000.

Aslo, do not forget that in B'ay month although we get 2X points but per txn points are capped to 1000 max. If bill is, say, 75000 and you are paying in B'day month then split in two txns as 50K max. on a day and another next day or whenever you want. Monthly capping is 10K points including this 1000 per lakh. But no one can reach 10 Lakh spend in month or sleeper cell i.e IT Department will become active. 🤓 So be in limits and keep yearly spends within 5 Lakh per credit card and same with debit card or if you have income to show then 80-90% of income should be limit.
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Okay, thanks again. About the ITD, they won’t care as the spends on all my cards are way less than my declared income. Will keep the monthly and daily caps in mind.
 
I am still not clear, the RBI has mandated that CC bills to be processed only through BBPS then how apps like CRED are accepting and clearing the payments ?
What I am missing here ??
 
superstar@123 said:
I am still not clear, the RBI has mandated that CC bills to be processed only through BBPS then how apps like CRED are accepting and clearing the payments ?
What I am missing here ??
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Some banks have taken time from RBI and are paying penalty now after deadline. RBI is happy receiving free income and banks are happy with time they get to implement with penalty and are making technological changes at their end. Axis has given excuse of Citi merger for buying more time. For RBI it is easy to ask banks to do so and so overnight but in real world every bank has its own challenges with system deployed. We have shortage of skilled engineers. Testing and implementing takes time inside entities. Recently SBI Unipay served undercooked payment system which failed in realtime with customers before they made changes accodingly.
 
desiviru said:
Some banks have taken time from RBI and are paying penalty now after deadline. RBI is happy receiving free income and banks are happy with time they get to implement with penalty and are making technological changes at their end. Axis has given excuse of Citi merger for buying more time. For RBI it is easy to ask banks to do so and so overnight but in real world every bank has its own challenges with system deployed. We have shortage of skilled engineers. Testing and implementing takes time inside entities. Recently SBI Unipay served undercooked payment system which failed in realtime with customers before they made changes accodingly.
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Many thanks for the insights!
So going forward, CRED and similar apps with useless, right?
 
superstar@123 said:
Many thanks for the insights!
So going forward, CRED and similar apps with useless, right?
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Yes, all will be same except Billdesk's bank curated pages which will continue to work the way they are. The compeititon will only be in time to settle and how much txn success rate one has. The next line of compeititon is how much a PG saves a user. In future every PG/PP (Payment Aggregator/Processor) can reward users their own way.
 
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Got it, so how you guys are planning to manage your CC bill payment (I have around 10+ credit cards) and I was using CRED primarily to manage the payment and due date.

Need to find the best platform now where I can register all these CC and then make the payment.
Whare are your suggestions ?
 
superstar@123 said:
Got it, so how you guys are planning to manage your CC bill payment (I have around 10+ credit cards) and I was using CRED primarily to manage the payment and due date.

Need to find the best platform now where I can register all these CC and then make the payment.
Whare are your suggestions ?
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You can continue with CRED.
 
Let's suppose if my outstanding amount is Rs. 1 Lakh and I pay it using BBPS registered methods. Will I be able to pay more using CRED?
 
atulay said:
Let's suppose if my outstanding amount is Rs. 1 Lakh and I pay it using BBPS registered methods. Will I be able to pay more using CRED?
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I guess. I paid my BOB Card bill through HDFC Net banking. Then paid some more amount which I used after bill generation from CRED
 
Rewards Update:

RPs received for CB Setu transaction in SBI card. Also friend received in HDFC Platinum for Setu. So Utilities MCC confirmed.

It got late and increased my BP. Took a week. BP is fine now.

Sad part is SBI Virtual DC won't work on Unipay now. Hulk is sad. 🤣
 
Looks like banks have implemented the Bill payment via BBPS in different ways.

Like in case of SBI, you can pay anytime an amount upto total amount due plus 5% of credit limit even if the bill is not generated or last bill is paid already.
For example if Credit limit is 1 lac then max amount at credit of SBI can be 1.05 lac. And if your last bill is say 50k, then you can pay up to 55k. And suppose you pay full 55k and spend 10k, then balance left is 5k. You can again pay up to 10k , even before generation of bill.
This is what I observed with SBI CC, I welcome to be corrected.

ICICI implementation is different. It always shows your billed amount due unless you settle the complete bill. So If your bill is say 10k and you pay 5k today, after a day if you fetch bill from another app it will again show 10k. And if in meanwhile you spend 20k, and fetch bill, it will continue to show 10k till generation of next bill.

HDFC ka bhi thoda alag hai, but itna observe nahin kiya hai.

If I my observations are misplaced, don't shoot me.
 
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