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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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Krishna Kumar said:
also not to forget "ever, ever, ever,.... EVERRRRRRRRR" 🤣
🤣 🤣 🤣 🤣 🤣
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Everything will be in sewer sewer sewer

Toxic Waste Background GIF
 
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It is very vague to say that payment via third party is banned. Unless Cred stops itself, there is no way to stop payment via cred. Cred makes payment via IMPS or NEFT.
If I have a credit card of a bank which is not live on BBPS, how I am supposed to make payment. NEFT or IMPS. That is what Cred is doing.

If I can do NEFT, then Cred can also do. Even my friend can also do on my behalf. Does it mean my friend is also third party? Even a bank will also be third party if I am making payment of other bank credit card using a different bank.
 
So what does paying through bpps means? Currently we do 9L spend on cc through multiple banks (short of 10L so that it wont be reported). Since 9L is done through bpps for various bank there's more chance of getting it reported and notices from tax dept?
 
pgarg24 said:
So what does paying through bpps means? Currently we do 9L spend on cc through multiple banks (short of 10L so that it wont be reported). Since 9L is done through bpps for various bank there's more chance of getting it reported and notices from tax dept?
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If you can always justify your spends then there is no need to worry. You maybe correct that bbps would get all the data of multiple credit cards mapped to single mobile number. This maybe problem for people who manufacture spends.
 
Demo009 said:
W

What's the reason behind such step by RBI ? RBI governor's don't hv any other work other than creating problems for fintech & customers...
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LOL, Because its illegal to pay credit card bills through 3rd party accounts.

Currently, funds are routed through an escrow account.

Tejo said:
I think, He wish that we don't earn cb or rp while paying cc bills
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Nothing like that. Infact we earn cb or rp while paying cc bills through all fintech apps via BBPS.

Before BBPS, only few fintech apps are supported CC bill payment.

Now Airtel, Jio, Navi, ICICI Pockets, Sriram one, Park+, GROWW, Tide, █████, █████, ████ etc all fintech app now supported CC bill pay.

Who knows, tomorrow █████, ██████ will support CC bill pay to capture India's ████ market.

All thanks to BBPS.

Thora broad mindset rakho yaar.
 
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Abhishek012 said:
Thora broad mindset rakho yaar.
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Next rbi guideline,
Across all cc bill payments, mcc need to be same

Next, banks will blacklist the mcc. Thereby no rewards or will be of value 0.25%

Else they might even restrict dc for bill payments as already billdesk doesn't allow.

If it's only bbps means its like dictatorship. 🤣
 
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