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Coming soon: A new system to integrate netbanking, payment aggregators
A new switch is in the making at Bharat Bill Payments System (BBPS), a subsidiary of the National Payments Corporation of India (NPCI), to streamline netbanking for customers by taking on-board multiple ecosystem stakeholders such as banks and payment aggregators.
BBPS, also known as Bharat Connect, is currently testing a middleware solution under the test name Netbanking 2.0, which is expected to go live within the next three to four months, according to people familiar with the matter.
Four major banks and about six to eight payment aggregators are part of the current pilot for the payments system. BBPS
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