FreeCharge wants to join RBI’s bill payment system

Snapdeal would like to maintain the Reserve Bank of India's proposed Bharat Bill Payments Systems (BBPS) through FreeCharge.

"We will be interested (in BBPS)," said Kunal Shah, founder and CEO of FreeCharge, which Snapdeal acquired earlier this year. "People will come to one platform where they can pay all their bills. We actually love the fact that this initiative has been taken. You cannot make digital transactions happen in this country till you fix bill payments and mobile recharge."

The RBI has asked companies already in the business of bill payments to join the BBPS as Bharat Bill Payment System Operating Units (BBPOUs) on October 20. The network will offer online bill payment services.

The system will start with utility payments and will provide multiple payment modes and instant confirmation.

The move is expected to help track all payments and make help consumers. The RBI has extended the last date for accepting applications to December 18th.

Image credit: Indiatimes