https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10145771
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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https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10146201
Ab RBL AUR IDFC DEBIT CARD PAR CASHBACK KAISE MILEGAA BILL PAYMENT KARNE PAR 🤔🤔🤔
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10146550
This sucks as sometimes cards get auto removed and then it shows pending if you add again, if you got more than more card from same bank then it won't shows card already added. Also there is problem of settling which isn't always quick.
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10146554
oh where ?? this happens? in BBPS portals? hmmm depends on where you are using this BBPS portal from, every merchant bank is using BBPS these days , so depends on the service provider (i.e bank) where got this BBPS access to you
I never had issues with HDFC BBPS portal
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The main issue for big card issuers joining is that BBPS offers instant settlement and many people who end up paying through other platforms where transaction takes few days to settle so banks can flag off interest on the amount.
Before RBI directive, interest was charged on whole bill amount outstanding but after RBI rules only on the amount not paid.
This is primary reason I think.
Also revolvers are reducing so credit card issuers cash cow is getting hit big time.
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10146872
Interesting observation:) I missed this:) good analysis:))
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10146856
@abhishek012 Will SBI CC + Snappay still work?
I generally pay all cc bills through snappay and pay sbi cc bill through hdfc billpay.
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10147241
Yes.
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10147472
RBI killed BOB world, and now It's going to do the same to CRED and CHEQ
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10147849
Thats called cycle of life for any product xD inevitable NOT TO DIE xD everything dies in life:)
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10147516
good information
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10147935
After this implementation may we able to pay all credit card bill from Unipay using debit card??
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10147969
I have this very doubt , and wondering JUST FOR HDFC CC WHICH I USE SBI UNIPAY for:)
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10152424
BBPS Live banks and WIP - 26th June, 2024 -
Live Billers
| Biller | Category | Status |
|---|---|---|
| AU Bank Credit Card | Credit Card | Live |
| AXIS Bank | Credit Card | WIP |
| BoB Credit Card | Credit Card | Live |
| Canara Credit Card | Credit Card | Live |
| Federal Bank Credit Card | Credit Card | Live |
| ICICI Bank | Credit Card | WIP |
| IDBI Bank Credit Card | Credit Card | Live |
| IDFC Bank | Credit Card | WIP |
| IndusInd Credit Card | Credit Card | Live |
| Kotak Mahindra Bank Credit Card | Credit Card | Live |
| Punjab National Bank | Credit Card | WIP |
| SBI Card | Credit Card | Live |
| UNION Bank | Credit Card | WIP |
| YES Bank | Credit Card | WIP |
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10153211
Hahahaha
major private sector credit card issuers like
HDFC is out ah?
and Axis is Work in Progress
major private sector credit card issuers like
HDFC is out ah?
and Axis is Work in Progress
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10161704
Jisko payment karna hai advance me pay kar lo kal tak kyunki..
Zindagi ek safar hai suhana
Yahan kal kya ho kisne jaana
Zindagi ek safar hai suhana
Yahan kal kya ho kisne jaana
Arey o leiyo leiyo, oleiyo leiyo
Oleiyo leiyo, oleiyo leiyo
Oleiyo leiyo, oleiyo leiyo
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10164915
Cheq and cred working today. What is problem in cc bill payment?
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10168693
Will hdfc billpay stop?
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10169531
No, it is working paid Axis CC yesterday.
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10188233
Any problem with cred ?
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10193281
@abhishek102 Snapay SBI credit card trick still working.?
Can anybody confirm this?
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10193286
@abhishek012
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Use Ebixcash Wallet UPI trick na, free load and free transfer for full kyc users - https://www.desidime.com/discussions/full-kyc-u...
https://www.desidime.com/discussions/credit-card-bill-payment-hurdles-wef-1st-july-2024-rbi-has-mandated-credit-card-bill-payments-through-bharat-bill-payment-system-bbps?page=2#post_10193742
U mentioned in thread nine months ago that credit card payment is not working on EBIX cash.
All data saved on Snapay. Please uska confirmation de do.
Would like to stick to Snapay.
Usi ka bata do chal raha hain ki nahi
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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.