NPCI to expand cross-border bill payments to UK through BBPS

Cross-border bill payments in UK: The National Payments Corporation of India (NPCI) is set to extend its cross-border bill payment services in the United Kingdom through the Bharat Bill Payment System (BBPS), following its successful implementation in four Middle Eastern countries. This expansion will empower non-resident Indians (NRIs) in the UK to use the system for convenient bill payments using various methods, including the Unified Payments Interface (UPI), National Electronic Funds Transfer (NEFT), digital wallets, debit cards, and credit cards.

“Our initial focus was on the Middle East countries because of the sizeable NRI population there. It (Bharat Bill Payment System) is already operational in Oman, Kuwait, UAE and Bahrain. Now, it is about to go live in the UK for cross-border bill payments. Later, we could explore other countries with a significant NRI presence such as Canada and Singapore,” Noopur Chaturvedi, Chief Executive Officer, NPCI Bharat BillPay Ltd said.

According to media reports, during her speech at the Reserve Bank of India's Innovation Pavilion at the ongoing G20 Leaders' Summit, Chaturvedi mentioned that they have been receiving numerous requests from NRIs in various countries to introduce this payment facility in their respective regions.

The Bharat Bill Payment System (BBPS) is a comprehensive bill payment system that offers customers a seamless and accessible bill payment service through a network of registered member agent institutions. BBPS allows for a variety of payment methods and ensures swift confirmation of payments, enhancing convenience for users.

Digital payment framework in G20 Summit

RBI is offering an insight into its digital payment framework, featuring the UPI and the e-rupee, also known as the central bank digital currency, to delegates at the ongoing G20 Leaders' Summit in Delhi. 

On the first day of the summit, approximately 20-21 UPI transactions took place at the Reserve Bank of India's pavilion stalls. Delegates from various countries, including Germany, China, Nigeria, Brazil, Russia, UAE, Argentina, Thailand, the United Nations Secretariat, and the Chief Economic Adviser to the UK Prime Minister, actively engaged in UPI transactions, as reported by Indian Express. 

India's digital public infrastructure initiatives showcased during the G20 Summit encompass the use of UPI services for foreign delegates, without the need for a bank account. Additionally, the demonstration includes RuPay payments facilitated through wearable devices like smartwatches, the introduction of digital rupee, and the presentation of a robust database platform capable of supporting diverse lending purposes.