https://www.desidime.com/comments/permalink/10143459
Ab cc payment par cashback band ?
Credit Card bill payment hurdles; w.e.f 1st, July 2024, RBI has mandated credit card bill payments through Bharat Bill Payment System (BBPS)
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Credit Card bill payment hurdles; w.e.f 1st, July 2024, RBI has mandated credit card bill payments through Bharat Bill Payment System (BBPS):
Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies.
The Reserve Bank of India (RBI) wants credit card bill payments through third-party payment platforms to stop from next month. The plan is to get all these bill payments through the central bill payment network, the Bharat Bill Payment System (BBPS). But there is a problem — only a handful of banks are live on BBPS presently.
Driving the news: Among the 34 banks that are allowed to issue credit cards, only eight are live on BBPS. So this means that after June 30, the customers of all the other 26 banks will be left to pay their credit card bills through auto debit mandates or net banking. The industry body for payment companies, the Payments Council of India (PCI), has petitioned the regulator for an extension, which is yet to be granted
The conundrum: The RBI wants credit cards to be brought completely under NPCI Bharat Billpay (NBBL). However, a bunch of large banks like Axis Bank, HDFC Bank, and ICICI Bank have not joined the ecosystem. Only the SBI Card and BoB Card, along with a few private sector lenders, are live on BBPS. For the likes of Cred, PhonePe, and others, they can only process bill payments for BBPS members, which means they stand to lose major transaction volumes from next month.
Rationale: There is a reason why the RBI wants all bill payments to be centralised. This gives the central bank better visibility over payment trends. It also helps them track and arrest fraud. In terms of data, the RBI can bring in more transparency and higher public accountability. But like in many previous instances, the industry participants seem to be struggling to keep pace with regulatory mandates.
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We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
https://www.desidime.com/comments/permalink/10143524
Source economic times 
https://www.google.com/amp/s/m.economictimes.co...
https://www.desidime.com/comments/permalink/10143537
omg didnt heard this before, nice learn of news:) for me
omg lets see how it goes
ALREADY CRED AND SMIILAR APPS ARE FACING TROUBLE we can see this by them not rewarding much anymore, so guess this is "funding winter" for VC's for apps like CRED i guess
VU+ for the news to spread
https://www.desidime.com/comments/permalink/10143566
it should work as it is given by hdfc on its own:) on any BBPS bill portal that supports DC's
View 8
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https://www.desidime.com/comments/permalink/10146655
Only pay via netbanking
https://www.desidime.com/comments/permalink/10143716
Cred will become CRUD 
https://www.desidime.com/comments/permalink/10143726
What's the point?
All methods like neft, imps, UPI etc should be available along with bbps. More choices is more flexibility.
Pretty sure there is some confusion in interpretation of RBI guidelines. They can't force to remove existing payment methods.
https://www.desidime.com/comments/permalink/10143751
apps like CRED uses payment gateways, payment gateways are not payment methods, i mean ITS JUST 'ONE METHOD' not methods
actually RBI is not removing many, they are just trying to ditch private payment gateways as a whole:)
I think
View 5
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https://www.desidime.com/comments/permalink/10143787
Good move. Now make a function to autopay cc bill via upi/banks😤
https://www.desidime.com/comments/permalink/10143918
already there:) with eNACH mandate
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https://www.desidime.com/comments/permalink/10143803
For more visibility vu+
https://www.desidime.com/comments/permalink/10143809
All this to make happy Mota bhai.
Jio finance bank
Bahut dur ki sochi hai
https://www.desidime.com/comments/permalink/10143882
where can I get rewards for paying onecard bill payment like using rbl signature or hdfc platinum? how you people are paying?
https://www.desidime.com/comments/permalink/10143890
any effect on hdfc billpay, sbi unipay ?
https://www.desidime.com/comments/permalink/10143891
nah nothing to worry
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https://www.desidime.com/comments/permalink/10143939
Good news hai ya bad news.. considering.. i use payment to get cb.. with dc..indus idfc sbi rbl in sabke dc ka kya hoga fir 
https://www.desidime.com/comments/permalink/10146657
Which credit card you use tell me first
https://www.desidime.com/comments/permalink/10143963
I pay almost all credit card bill from savings account via IMPS (Few banks like AXIS, ICICI, SBI, HSBC, StanChar do not support IMPS and hence for them I use NEFT). This will not work anymore?
None of the credit card companies have sent any notifications about this,
https://www.desidime.com/comments/permalink/10143980
You can directly pay through UPI, IMPS, NEFT, RTGS etc.
View 15
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https://www.desidime.com/comments/permalink/10144078
Whenever there is RBI in news.....
https://www.desidime.com/comments/permalink/10144116
there is silent trouble:)
https://www.desidime.com/comments/permalink/10144122
If routed thru BBPS, will they allow partial payments, now a lesser amt shown by them is not proceeded further. I mean if the electricity bill is 1111/- you can't pay 500/- etc U hv pay to full amt in one go.
https://www.desidime.com/comments/permalink/10144162
sometime i miss old days when we use to pay thru PAYTM wallet(put money thru credit card)/rupay card/upi with points but then cums RBI RBI RBI 😌
https://www.desidime.com/comments/permalink/10144163
I need to pay my HDFC cc with my HDFC platinum card next week... Which app still working ? Only SBI bill pay or any other option.
Note-Sriram app removed debit card option.. So not possible
https://www.desidime.com/comments/permalink/10144205
Can we sue someone if in BBPS they don't let us edit the bill amount to pay? Unipay has turned it off for Kotak and IndusInd already 😡
https://www.desidime.com/comments/permalink/10148860
Partial bill payment on BBPS depends on the bill provider not BBPS. Banks may remove partial bill payment option on BBPS to avoid hassle of extra record keeping on a platform which is not under their control.
View 6
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https://www.desidime.com/comments/permalink/10144528
The reason is also that companies get your card number and sometimes data, which will end with BBPS. Also, cred is already live with BBPS, and so are others as I pay SBI by cred as well. So, all offers will continue as it is. The only thing now, they will not have your transaction data and full card numbers.
https://www.desidime.com/comments/permalink/10144624
hmm how they get transaction data from biller? usually they get transaction data from "SMS+Email"
I agree with that card number part but how transaction data? other than SMS and Email??
I mean i would like to know the modulus operandi of this transaction data stealing
View 6
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https://www.desidime.com/comments/permalink/10144787
Main question....
What are the alternatives .. ?
Or other options ... ?
https://www.desidime.com/comments/permalink/10144920
How about instant/same day credit, usually when we pay through bbps,it takes 2 days to credit.correct me if I am wrong.
https://www.desidime.com/comments/permalink/10144933
BBPS payments always credit instantly. Other payments take upto 2-4 days.
View 1
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https://www.desidime.com/comments/permalink/10145119
@abhishek102 Will the Neft payment through SBI cashback card trick on Snapay still work after July1?
View 2
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https://www.desidime.com/comments/permalink/10145543
@abhishek012 ..As per Rationale -"In terms of data, the RBI can bring in more transparency and higher public accountability." - Heart attack aa gayaa..How can they say words like public accountability 
.. Billionaores are leaving india and common man is scrutanised from every IN and OUT transaction. Practically this is implementation of "Big Brother is watching every move" type modus operandi.
https://www.desidime.com/comments/permalink/10145686
After 30th June may I able to pay my all bank's credit card bill through SBI Unipay using HDFC Platinum Debit Card or not? Please confirm 🥺 
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what about HDFC 1% billpay via its dc?
it should work as it is given by hdfc on its own:) on any BBPS bill portal that supports DC's
End of Cred...?
No. They will have a tie up with payment aggregator that relies on BBPS. But the uniqueness will be lost. Now all apps will have same speed of settlement.
If routed thru BBPS, will they allow partial payments, now a lesser amt shown by them is not proceeded further. I mean if the electricity bill is 1111/- you can't pay 500/- etc U hv pay to full amt in one go.