Bharat BillPay launches UPMS to simplify recurring bill payments
1 min read 04 Jan 2022, 12:34 PM ISTUnder the system, bills will be automatically fetched from the billers and presented to customers to take action in terms of auto-debit and bill payment management
PremiumNPCI Bharat BillPay on Tuesday announced the launch of a Unified Presentment Management System (UPMS), which will enable users to set up standing instructions on their recurring bill payments across all channels and modes of digital payments.
Bharat BillPay is a bill payments services platform of the National Payments Corporation of India (NPCI).
Under the system, bills will be automatically fetched from the billers and presented to customers to take action in terms of auto-debit and bill payment management.
The idea is to enable all the Bharat BillPay Operating Units to make this facility available to their customers through the centralized infrastructure and application support provided by Bharat BillPay Central Unit (BBPCU), NBBL said in its statement. UPMS will help in democratizing recurring bill payments and making them further convenient for customers.
“For Billers, UPMS eases the operational management of collections while reducing the infrastructure overheads on their systems that come during Billing cycles. We truly believe that with the support of the ecosystem partners, this functionality will provide superior bill payments experience to millions of customers and service providers," said Noopur Chaturvedi, CEO, NPCI Bharat BillPay.
NBBL said UPMS provides an opportunity to digital payments service providers and fintech companies to run through this innovative feature in the sandbox environment of BBPS and added that some of the major financial players, including the likes of Axis Bank and IDFC FIRST Bank and PhonePe, are taking UPMS services to their billers and consumers, while many others are accessing the sandbox as a first step to deployment.
Vivek Gupta, President and Head – Wholesale Banking Products, Axis Bank said, “UPMS is a giant leap for the BBPS ecosystem. It will enable a common repository of bills and this will ensure the entire bill payment ecosystem gets updated in real-time. Customers now need not worry about making double payments due to delays in payment confirmation or getting erroneous payment-due reminders. BBPS is one of the key initiatives for Axis Bank and we look forward to working with NPCI on this journey."
Ankit Gaur, Director- Business, PhonePe concurred and said, “UPMS will enhance the efficiency of the current bill payment system by increasing the reliability of the cycle in which the bill is made available to the customers for payment, while also giving them the flexibility to make one time payments or set mandates for recurring payments."
