State-owned Bharat Sanchar Nigam Limited (BSNL) has entered a partnership with the State Bank of India (SBI) to launch a UPI-based payment platform called Bharat InstaPay. This has been designed particularly for the BSNL channel partners across the country in an effort to help facilitate digital payments at any given point of time, without having to visit a BSNL office.
BSNL has set up a one-time online verification process to allow partners to make payment transactions without any kind of human intervention. The main objective of Bharat InstaPay portal is to digitalise the payment process.
BSNL officials have stated that the new payment platform developed by the telecom operator will be especially beneficial for prepaid sellers, as it will allow them to buy services immediately for sale. The company also released a statement saying that the digital payment platform is an initiative of BSNL which has been powered by SBI, which will enable every channel partner of the company to make their payment transactions digitally on a 24-by-7 basis.
The company also explained that every vendor will be issued a unique digital identification to allow transactions using the new designed platform. The company also added that Bharat InstaPay will not only improve their credibility towards channel partners, but it will also help their partners' business grow at a much faster pace.
Vivek Banzal, Director (CFA), BSNL Board, has said the operator was relentlessly working to bring business convenience to all its channel partners by enabling digital platforms, thereby improving the business processes.
Before this initiative, BSNL channel partners had to wait in order to settle payments for purchasing the various telecom services that they sold in the market. There used to be major delays especially on non-working days.