New Delhi: Users of the mobile wallet MobiKwik will now be able to pay their utility and convenience bills across the country using the wallet.
As per the company, it has got in-principle approval from the Reserve Bank of India (RBI) to set up a Bharat Bill Payments Operating Unit (BBPOU).
The company will now be integrated in Bharat Bill Payment System (BBPS), a bill payment system by NPCI, offering interoperable and accessible bill payment service to customers through a network of agents.
"We are determined to serve the entire country with digital payments and enable Indians from rural or urban areas in making seamless and secure payments from their mobile phones," said Bipin Preet Singh, co-founder of MobiKwik.
Bharat Bill Payment System (BBPS) is a tiered structure for operating the bill payment system in the country under a single brand.
National Payments Corporation of India (NPCI) will function as the authorised Bharat Bill Payment Central Unit (BBPCU), which will be responsible for setting business standards, rules and procedures for technical and business requirements for all the participants, MobiKwik said.
In its initial phase beginning this month, BBPS will cover repetitive payments for everyday utility services such as electricity, water, gas, telephone and Direct-to-Home (DTH).
With PTI Inputs