PayU India becomes first non-bank entity to get Bharat Bill Payment Unit license
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PayU India has become the first non-bank entity among 62 others to get RBI approval to set up and operate Bharat Bill Payment System (BBPS).The company believes the BBPS license gives a big boost to its payment ecosystem. In an official statement the company mentions this as getting one step closer to achieve its mission of ‘Simplifying payments and
BBPS is an integrated bill payment system in India, offering inter-operable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. This will allow consumers to pay their bills anytime and anywhere in India.
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