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

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.

 

[harshgupta940]

Looks great as of now
On 2nd l’ve bill lets see practically

There are good chances that the date will be extended. Also did anyone get the official press release from rbi as this is from a media agency.

 

[Krishna Kumar]

There are good chances that the date will be extended. Also did anyone get the official press release from rbi as this is from a media agency.

Yes. Most likely it will be extended.

 

[HumorSimpson]

also not to forget "ever, ever, ever,.... EVERRRRRRRRR"

Everything will be in sewer sewer sewer

 

[Wealth is my birth right!]

There are good chances that the date will be extended. Also did anyone get the official press release from rbi as this is from a media agency.

So far no
Banks individually also may send to their card holders once it is finalized

 

[navdeep22]

This means cred type business going to extinct.

Cred/Cheq be like- me job chhod du?

Cred to already hai na bbps pe

 

[Deleted member 30411]

W

This means cred type business going to extinct.

Cred/Cheq be like- me job chhod du?

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...

 

[Tejo]

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...

I think, He wish that we don't earn cb or rp while paying cc bills

 

[Wealth is my birth right!]

Adding an update

 

[harshgupta940]

Many Banks have taken action and I guess they are in progress to be added to BBPS

Good News for Axis, ICICI, IDFC First, Yes Bank, PNB & Union Bank CC Customers.




I have taken data from this link.
WIP - Work In Progress

Hope more banks get added ASAP.

 

[Krishna Kumar]

Many Banks have taken action and I guess they are in progress to be added to BBPS

Good News for Axis, ICICI, IDFC First, Yes Bank, PNB & Union Bank CC Customers.




I have taken data from this link. I think "WIP" means something like In progress

Hope more banks get added ASAP.

Work In Progress

 

[V G]

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.

 

[HumorSimpson]

Many Banks have taken action and I guess they are in progress to be added to BBPS

Good News for Axis, ICICI, IDFC First, Yes Bank, PNB & Union Bank CC Customers.




I have taken data from this link. I think "WIP" means something like In progress

Hope more banks get added ASAP.

WIP means work in progress

 

[pgarg24]

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?

 

[harshgupta940]

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?

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.

 

[Abhishek012]

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...

LOL, Because its illegal to pay credit card bills through 3rd party accounts.

Currently, funds are routed through an escrow account.

I think, He wish that we don't earn cb or rp while paying cc bills

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, Coupl, Single, Lesbian etc all fintech app now supported CC bill pay.

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

All thanks to BBPS.

Thora broad mindset rakho yaar.

 

[Tejo]

Thora broad mindset rakho yaar.

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. 🤣

 

[iamdhamo]

750/- short in MLY budget 😩

So should degrade to millenia then

 

[Tejo]

Yes. The King's life (HDFC Platinum DC) is at stake now

No problem, emperor "hdfc millenia" exist to give pension of 400 forever.

 

[Tejo]

Better than Unipay🤣

0n 15th Txn Failed at Unipay and Jio Finace

Refund for Jio Finance Credited automatically in time.

Unipay Refund in Air as usual🤣

Sbi ke pas paise nhi hai, to initiate refund instantly 😅

Jio ke pas bahut paisa hai 😂

 

[Tejo]

Adding an update

If axis is live then the curse of axis effects bbps thereby devaluation occur, we longer can pay via wallets and cc