Latest news with #BharatBillPaymentSystem
United News of India
07-07-2025
- Business
- United News of India
Federal Bank powers digital donations at Guruvayur Sri Krishna Temple
Kochi, July 7 (UNI) Federal Bank has announced the successful enablement of digital donation payments for Guruvayur Sri Krishna Temple, marking a historic milestone as the first temple in Kerala to go live on the Bharat Bill Payment System (BBPS) under the 'Donations' category of NPCI (National Payments Corporation of India). This integration now allows devotees to make offerings through any UPI-enabled app, including Federal Bank's Mobile Banking App, GooglePay, PhonePe, BHIM UPI, and more. The facility offers a safe, seamless, and convenient way for devotees across the globe to participate in temple donations - anytime, anywhere. Speaking on the initiative, M V S Murthy, Chief Marketing Officer, Federal Bank said, "We are honoured to be part of this significant step in the digital transformation of temple donations. Guruvayur Sri Krishna Temple now becomes a pioneer in Kerala by embracing a platform under BBPS." "Technology makes in convenient to express gratitude. The human at the core, is supported by digital at the fore.' O B Arun Kumar, Guruvayur Devaswom Board Administrator said, 'We are happy to be the first temple in Kerala to have embraced this technology to enable all devotees from across the world to offer their offerings from anywhere in the world to Guruvayur temple on special occasions or new beginnings.' This collaboration not only modernizes religious contributions but also reflects Federal Bank's commitment to making digital banking accessible and meaningful across all sectors, including India's revered cultural and spiritual institutions. UNI DS SS
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Business Standard
26-06-2025
- Business
- Business Standard
Pine Labs files DRHP with Sebi for IPO; to raise ₹2,600 cr via fresh issue
Temasek and Peak XV Partners-backed Pine Labs has filed preliminary pape₹ with capital markets regulator Sebi to mobilise funds through an initial public offering (IPO). The IPO is a combination of fresh issuance of equity shares worth ₹2,600 crore and an offer for sale (OFS) of more than 14.78 crore shares by investor selling shareholders, according to the draft red herring prospectus (DRHP) filed on Wednesday. Under the OFS, Peak XV Partners, London-based Actis, PayPal, Mastercard Asia/Pacific, Temasek through Macritchie Investments, Invesco, Madison India Capital, MW XO Digital Finance Fund Holdco, Lone Cascade LP, and Pine Labs co-founder Lokvir Kapoor will be divesting their shares in the fintech firm. The company plans a pre-IPO placement of shares aggregating to ₹520 crore. If the pre-IPO placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the tune of ₹870 crore will be used by the company to repay debt and ₹760 crore will be used for investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of digital checkout points. The company will use funds worth ₹60 crore for investment in its subsidiaries such as Qwikcilver Singapore, Pine Payment Solutions, Malaysia, and Pine Labs UAE for expanding the presence outside the country, and the balance for general corporate purposes, and unidentified inorganic acquisitions. Noida-based Pine Labs is a technology company focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions. For the fiscal ended December 31, 2024, it has processed paytments worth ₹7,53,105 crore in gross transaction value and 3.97 billion transactions through its platforms. The company had more than 9.15 lakh merchants, 666 consumer brands and enterprises, and 164 financial institutions, who used its platforms to enable transactions quickly, securely and easily manage their business. According to the Redseer report, Pine Labs is one of the top five in-store digital platforms, and a prominent Bharat Bill Payment System transactions processing solutions provider in FY24. The company competes with the likes of Paytm, Razorpay, Infibeam, PayU Payments, PhonePe in the domestic market and Adyen, Shopify and Block in the overseas markets. For the fiscal ended December 31, 2024, the company reported a revenue from operations at ₹1,208.2 crore and profit after tax at ₹26.14 crore. The shares of the company are proposed to be listed on the BSE and NSE. Axis Capital, Morgan Stanley India Company, Citigroup Global Markets India, JP Morgan India, Jefferies India are the book running lead managers while KFin Technologies is the registrar for the IPO.
Business Standard
14-06-2025
- Business
- Business Standard
BillWizz: India's First Zero Convenience Fee Payment Platform Gains Momentum
PNN New Delhi [India], June 14: In a time when nearly every digital payment includes hidden convenience fees, the average Indian consumer ends up paying more than just their bills. From utility recharges to mobile payments, a silent cost is often passed onto users -- all in the name of convenience. This growing frustration has made consumers question why paying a bill digitally should come at an extra price. Digital payments in India have grown at a record pace, especially post-pandemic. But as the ecosystem becomes more commercialized, platforms have started charging service or convenience fees ranging anywhere from ₹5 to ₹35 per transaction -- a practice that silently eats into household budgets. For everyday users, especially those from Tier 2-3 towns, such repeated fees can feel like a tax on being tech-savvy. That's where the conversation around zero-convenience digital transactions begins. As Indian users become more financially aware, there's rising demand for a bill payment system that's transparent, quick, and affordable -- without the added cost. The solution? A model where platforms earn from billers, not from customers. BillWizz tried to solve this issue. It is a smart platform developed by TABLINK SOLUTIONS PRIVATE LIMITED, built on this very idea. Rather than charging users extra, BillWizz earns its revenue from billers -- giving users a fee-free experience on payments like electricity, water, DTH, mobile recharges, and even Google Play recharges. It's a shift that mirrors what customers truly want: digital convenience without a hidden cost. Why should managing bills cost more than the bill itself? With zero service fees, real-time updates, and auto-scheduling options, BillWizz is rethinking the everyday payment experience. Users can recharge, pay, and manage utilities all in one place, with added perks like cashback rewards and referral bonuses. BillWizz is already serving over 50,000 users, and integrates with Bharat Bill Payment System (BBPS) -- reinforcing its alignment with India's Digital India mission. Unlike many payment apps that lean on flashy marketing but pass charges to users, BillWizz focuses on making affordability its core product feature. But building a zero-fee model hasn't been easy. Convincing billers to collaborate, ensuring bank-grade security, and earning consumer trust -- these were major hurdles. Yet, BillWizz overcame them through a clean interface, strong encryption, and a promise of "no hidden cost, ever." As a result, it's now growing faster through word of mouth than ad spends. India's digital consumer is evolving -- they want unified platforms, secure automation, and zero-friction payments. BillWizz is not just adapting to these trends but shaping them. It is especially popular among budget-conscious users, freelancers, and working professionals who manage multiple payments monthly and can't afford to lose ₹100-₹200 every month in fees. Looking ahead, the company plans to onboard more billers, introduce personalized dashboards, and expand its service offerings. With a goal of reaching over 5 lakh users, BillWizz aims to turn everyday bill payments into a smarter, cost-free routine, not a burden. About BillWizz BillWizz is a digital bill payment and recharge platform developed by TABLINK SOLUTIONS PRIVATE LIMITED, designed to eliminate hidden convenience fees. Based in India, BillWizz integrates with BBPS and supports electricity, water, DTH, gas, and mobile recharges -- all without charging users any extra cost.
Mint
26-05-2025
- Business
- Mint
What comes after UPI? Can BBPS and voice-led payments replicate its success
In a country of 1.4 billion people, developing the worldwide normalcy of digital banking through India's Unified Payments Interface (UPI) has been nothing less than transformational. UPI processed an unprecedented 19.78 billion transactions in March of 2025 for a total value of ₹ 24.77 trillion. The digital payment narrative in India is shifting radically, as the 'new normal' sets in. The direction of the future of India includes voice-led payment solutions and the Bharat Bill Payment System (BBPS). This is not just the next chapter. It's a rewrite of the playbook. When UPI launched in 2016, only a few had anticipated the kind of financial democratization it eventually unleashed. Today, with 11.5 billion transactions which take place in a single month (April 2024), UPI is undoubtedly the heartbeat of India's cashless economy. But while UPI simplifies peer-to-peer and merchant payments, BBPS is quietly transforming how India pays its bills. 'While UPI continues to break records, the future of digital payments in India lies in two parallel shifts—BBPS and voice-led interfaces,' says Sameer Mathur, Managing Director and Founder of Roinet Solution. 'BBPS has seen a 60% year-on-year surge in transaction value in FY24, now processing over 28 crore monthly bill payments across utilities, education, and taxes.' That scale isn't just impressive—it's foundational. BBPS brings structure and interoperability to recurring payments, covering the long tail of Indian households who want their electricity, water, broadband, and school fees paid with a single tap. Its API-first, regulator-backed framework ensures that these payments are secure, standardized, and widely accessible. But the most exciting innovation may not involve screens at all—it's the rise of voice-led payments, a game-changer for India's 700 million feature phone users. Voice AI, now achieving up to 95% accuracy in regional languages, is turning spoken instructions into financial actions. Picture this: a farmer in rural Odisha pays his electricity bill using a simple voice command. A street vendor in Uttar Pradesh checks his BBPS payment status through a missed call. The digital divide begins to dissolve. 'With digital payments deeply ingrained in India's financial ecosystem, forward-thinking companies know the next wave of opportunity lies in accessible, inclusive platforms like Bharat BillPay—especially when combined with voice-led processing,' says Rohit Mahajan, Managing Partner and Founder of plutos ONE. 'New players like NPCI's Conversational Voice Payments and BBPS's BillPay Connect are empowering users to transact via voice commands or even missed calls, breaking digital barriers to inclusion.' A tech-agnostic ecosystem is emerging and you can pay offline or pay with a QR code, a feature phone, a smart phone or a voice. This ecosystem, which is responsive to India's vast variety in connectivity, literacy, and access to devices, sees innovation as a necessity rather than an option. This convergence of platform and interface is a mission and not a roadmap. Digital payments, according to some industry figures, will encompass every facet of society by 2029, from high-rises in Mumbai to tribal hamlets in Chhattisgarh. BBPS and voice, as part of India's payment system, are extensions, multiples and reinforcements of UPI, and not replacements or alternatives. They see the world, collectively, as a future where all Indians can join the digital economy no matter their literacy level, language and device you are using. UPI may have sparked the revolution—but BBPS and voice are building the republic.
Time of India
23-05-2025
- Business
- Time of India
Pay property tax by June 30 & get 10% discount: Navi Mumbai civic body
NAVI MUMBAI : After collecting a record Rs 826 crore in property tax in 2024-25 and setting an ambitious target of Rs 1,200 crore for the 2025-26 fiscal, Navi Mumbai Municipal Corporation (NMMC) announced a 10% 'Early Bird' discount on general tax for property owners who pay their 2025-26 bills by June 30. NMMC commissioner Kailas Shinde said the 2025-26 property tax bills are now accessible online. Among the other initiatives to encourage timely tax payments and boost civic revenue is the implementation of a single annual bill distribution system from 2025-26, replacing the earlier practice of distributing bills twice a year. NMMC has also upgraded the online payment system and roped in women from self-help groups to handle the physical bill distribution. "Property tax bills for 2025-26 can now be accessed through www(dot)nmmc(dot)gov(dot)in and the 'MY NMMC - My Navi Mumbai' app. A 10% discount on general tax awaits those who settle their bills by June 30, 2025," said Shinde. "Previously, the corporation distributed bills twice annually to over 3.5 lakh property owners. Limited staff caused delays in distribution and tax collection. Hence, I have instructed swift distribution with additional personnel, implementing a single annual distribution system. The property tax department has recruited women from self-help groups to ensure prompt bill distribution and inform residents about tax concession schemes. Residents are advised to share their mobile phone numbers and email addresses with these representatives for property linking and SMS alerts. Citizens can also complete this procedure independently via www(dot)nmmc(dot)gov(dot)in. The Bharat Bill Payment System supports various payment options, including online banking, UPI, cards, and mobile wallets. Payments through the municipal website and app provide instant receipts, an NMMC official confirmed. NMMC now offers straightforward property tax payments both manually and online with annual billing. Speaking about the reforms in property tax collection and encouraging public cooperation, Shinde said: "This year, many important decisions were taken to make property tax collection more dynamic and citizen-friendly. The new system of 'One Year, One Bill', linking KYC to tax bills, online availability of property tax bills, effective use of digital methods of tax payment, and participation of women from self-help groups in bill distribution will not only make the tax collection system easier for citizens, but also provide planning and speed to tax collection."
