BBPS will offer the facility of “Anytime Anywhere” payment of bills, articipating on BBPS network, to customers through a network of agents.

It is expected to provide an accessible bill payment system to the large segments of unbanked and under-banked population.

BBPS will provide interoperability so that consumers can pay the bills of any biller at a single point and facilitate payments via multiple modes i.e. Cash, Debit Cards, Credit Cards, Prepaid payment instruments including wallets and other electronic payment options such as Net banking, IMPS, NEFT, etc.

The bill payment service points are expected to become ubiquitous, available to consumers near their place of work or residence.

The BBPS outlets could include bank branches, business correspondents, Customer Service Points, retail agents of aggregators, ATMs (Automated Teller Machine), Kiosks, etc. Any customer will be able to pay bills of the billers enrolled in the BBPS system at any BBPS outlet.

Will set up bill payment standards for the entire system and its participants in India.

Will be an efficient and convenient medium for customers and other stakeholders.

A number of value-added services relating to bills payments can be offered to consumers by the BBPOUs in course of time, subject to strict compliance with data privacy and security issues and standards. Will significantly reduce the systemic risks in collection and settlements.

Has the potential to reduce the expenditure that billers incur on collection of bills at their own collection centres.

Will lead to faster migration from assisted mode to self-service mode of payment and from cash payments to e-payment of bills.