Bharat Bill Payment System
Bharat Bill Payment System (BBPS) is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers through a network of agents of registered member as Agent Institutions (AI), enabling multiple payment modes, and providing instant confirmation of payment. National Payments Corporation of India (NPCI) functions as the authorised Bharat Bill Payment Central Unit (BBPCU), which will be responsible for setting business standards, rules and procedures for technical and business requirements for all the participants. NPCI, as the BBPCU, will also undertake clearing and settlement activities related to transactions routed through  BBPS. Existing bill aggregators and banks are envisaged to work as Operating Units to provide an interoperable bill payment system irrespective of which unit has on-boarded a particular biller. Payments may be made through the BBPS using cash, transfer cheques, and electronic modes. BBPS has also been integrated with the Unified Payments Interface (UPI) for Easy, Safe & Instant Payments through UPI enabled Smartphones. Background. The Committee headed by RBI Executive Director G. Padmanabhan was set up in 2013 to study the feasibility of implementation of Giro based Payment Systems. It had estimated that over 30,800 million bills amounting to  ₹6223 billion are generated each year in the top 20 cities in the country. It was felt that integrated bill payment system is required in the country that could offer interoperable and accessible bill payment services to customers through a network of agents, allow multiple payment modes, and provide instant confirmation of payment. This should also serve as an efficient, cost-effective alternative to the existing systems and enhance consumer confidence and experience. Unified Presentment Management System. NPCI on 4 January 2022 launched Unified Presentment Management System (UPMS) for recurring payment. Customers can set up standing instructions for any  mode of payment. The payment will be done automatically in terms of auto-debit and bill payment management. UPMS will help in payment of mutual funds, insurance, subscriptions, school fee payments etc.