What is Bharat Bill Payment System API
Paying bills is probably one of the most stressful tasks in any adult’s life. Month after month, it is something that everyone needs to take care of. However, with advanced technology and integrated faster payment methods, it is now accessible in the form of Bharat Bill Pay Service at the tap of a button.
What is the Bharat Bill Payment API service?
Paying utility bills is a monthly task. Utility bills refer to basic bills like electricity, water, telephone, gas, water, etc. With NPCI driving the technology, the Bharat Bill Payment API service is a savior for all individuals who struggle to travel miles together just to pay bills.
NPCI offers bill payment as part of the quick transaction system where you can choose the service provider and pay your bills. To elaborate further, Bharat Bill Payment System is a centralized service offered by NPCI, which brings together all billers and customers to a single point, to facilitate transactions.
Given that it is a mandate now by RBI, you have payments available online, offline, and through a network of agents who do the needful in a shorter span of time.
Who can sign up for Bharat Bill Payment Service?
Given that it is a flagship service offered by NPCI, it is available to everyone who can access smartphones and internet services. Bharat Bill Payment System API is a seamless API service that can be integrated with any payment applied to offer easy bill payments.
Billers can plug the utility bill payment API into their own systems. There is a central unit and an operating unit that can help facilitate this process. Once this integration is complete, users can enter the unique consumer id, choose the biller entity, and enter the amount to initiate the transaction.
All you need to do is sign up on a digital wallet or a mobile payment system to access these billers. In case the customer has set up an automatic notification to be delivered, they are provided the same as soon as the bill is generated by the billing system.
How can you get BBPS API?
It is possible that not everyone has access to a smartphone or the internet. But that does not mean that you have to struggle to pay your bills. You can walk to your nearest service provider or agent who has API integrated such that you can get help in paying your bills.
If you are a service provider or agent, you can get assistance from BBPS API providers such as Softcare Infotech, which can help you set up your front-end service and the entire API infrastructure. As part of the build, you can also get several other features built such as plugging in multiple banks, non-banking financial entities, and agents in order to ensure a smooth transaction.
What are the benefits that come with an integrated Bharat Bill Payment System API?
The best part of BBPS API service is that it brings together a network of banks, billers, customers, and agents together to a common point. It has multiple benefits to offer primarily customer and participant benefits.
As a customer, you have access to paying your bills through multiple modes, with or without internet access. Either you can go ahead and check with your network agent if they offer integrated BBPS API services such that all billers that you are looking for are available. In case it is positive, you can make your bill payments using your unique customer id. The best part about BBPS is that the system is never offline. Therefore, come hail or rain, you can always pay your bills on time.
As a participant, it is essential that you have all popular networks and banks, billers, and collection agencies onboarded and integrated into your API. This will allow you to cater to a larger group of customers. It is not necessary that one biller is a common preference for all. Therefore, having BBPS integrated with a wider network is always an advantage.
Utility bill payment API is the future
As a bill payment service, it is a new and digital version of the bill payment system that is offered by NPCI under the Digital India initiative. With instant receipt generation, instant customer notification, instant confirmation, and instant settlement, BBPS is one of the go-to services these days for all service providers.
With expansion plans in the pipeline, it is now going to be extended towards repayment of school and university fees, making charitable donations, paying property and municipality taxes, investing in mutual funds, recharging fast tags, buying digital gold so on and so forth.
With retail points across the nation, it is available to each and every customer whenever they want. As customers, it is accessibility that is the advantage. As participants, institutions need not wait for collections to come in via agents or otherwise. The minute the bill is paid through more, the biller’s accounts get credited instantly.
It is affordable
Since BBPS is a government API offering, it is fairly safe when it comes to safeguarding your transactions. This helps in curbing fraud and money laundering to a great extent. With additional PINs and validations in place, it is no longer easier to trick the service providers. With unique key validations and customer information guarded with encryption logic, it is safer and requires intense effort to decrypt.
To mitigate fraud, BBPS operating license has to be obtained by anyone who wishes to be a network agent. This helps in getting a unique reference as a point of sale such that remittances are easy and can be tracked in times of need. These licenses usually act as a correspondent of the bank which already has a wide presence.
This relationship helps in expanding the biller network even to remote areas. Bharat Bill Payment service being a centralized system can be plugged into any functional website as an API. Agencies like SoftCare Infotech can help you set up an API service interface at a reasonable cost.