Bharat BillPay to provide recurring bill payment solutions to CRED
NPCI Bharat BillPay, the wholly-owned subsidiary of National Payments Corporation of India (NPCI), on Thursday said it has onboarded digital payments platform as a key agent institution for providing easy bill payment solutions to CRED members.
An agent institution refers to an entity that wishes to offer or is currently offering bill payment, collection, and aggregation services to its customers via physical or digital channels.
With the collaboration, CRED members will be able to make recurring payments across several segments like electricity, telecom, DTH, gas, education fees, water, municipal taxes, and so on, according to the statement released by the authority.
NPCI Bharat BillPay has onboarded CRED as a key agent institution
They will also be able to see updated transaction history, set transaction alerts and reminders and raise/track complaints online for Bharat BillPay transactions using the CRED app. As an agent institution, CRED will create member touchpoints, provide member assistance (registration, quickpay, complaint resolution), instant confirmation, awareness (payment and charges), BBPS visibility, etc.
“CRED has managed excellent growth as a credit card bill payment platform and we are pleased to onboard them as an agent institution. This will make it easier for CRED members to pay bills via our platform, which provides a one-stop destination for all recurring bills through a simplified bill presentation and bill payments interface.
“We look forward to continuing onboarding varied ecosystem partners to offer an extra layer of comfort and convenience to citizens of India for their recurring payments under the Bharat Bill Payment System (BBPS) scheme,” said Rahul Tandon, Head Product Development, NPCI Bharat BillPay Ltd.
Currently, Bharat BillPay offers recurring payment services to customers across several segments. The platform claims to offer 20,000+ billers across multiple banks and non-bank channels and has 900+ agent institutions live on the platform.
Financial services lead at CRED, Akshay Aedula, said, “Creating a rewarding and seamless transaction experience remains our focus at CRED. BBPS integration will help enhance member experience for recurring payments like electricity, FASTags, education fee, rent pay amongst others.”