After rolling out guidelines for Bharat Bill Payment System (BBPS), a central host for payment gateway services in the country, the Reserve Bank of India is expected to start the process of inviting applications from interested parties, reports CNBC-TV18's Manasvi Ghelani.
Currently, a host of companies such as Citrus, PayTM, PayU and Zaakpay, among others, are in the business of allowing utility bill payments such as for electricity, telephone, gas and DTH, etc.
The central bank wants to issue a framework for the formation of a centralized payments services, and has thus asked the National Payments Corporation of India to set up BBPS.
About eight to 10 players are said to be interested in wanting to apply for BBPS licences.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
