NPCI hives off bill payments platform into a separate subsidiary

National Payments Corporation of India (NPCI) announced the formation of its wholly-owned subsidiary firm - NPCI Bharat BillPay Ltd. (NBBL). The new entity has come into effect from April 1, 2021.

Bharat BillPay is an inter-operable bill payments platform that banks, fintechs, payment companies and biller merchants use to send bills to customers and accept payments on behalf of merchants.

Bharat BillPay will offer recurring payment services to customers, including bill payments for electricity, telecom, DTH, gas, education fees, water and municipal taxes, NETC FASTag recharge, Loan repayments, Insurance, Cable, Housing Society, Subscription Fees, Hospital, Credit card, Clubs and association, etc.

Bharat BillPay is NPCI’s second subsidiary firm after NPCI International Payments (NIPL), which takes care of deployment of the RuPay card scheme and Unified Payments Interface (UPI) outside of India.

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