India – 9 June 2022: NPCI Bharat BillPay Ltd., the wholly-owned subsidiary of National Payments Corporation of India announces the on-boarding of CRED as a key Agent Institution (AI) for providing easy bill payment solutions to CRED members.. Agent institutions are the entities that wish to offer or those who are currently offering bill payment, collection, and aggregation services to their customers via physical or digital channels.
With this collaboration, CRED members will be able to conveniently make recurring payments across several segments like electricity, telecom, DTH, Gas, Education fees, water, and municipal taxes, NETC FASTag recharge, loan repayments, Insurance, Cable, Subscription fees, Mobile prepaid recharges, and others by logging into CRED app. They will also be able to see updated transaction history, set transaction alerts & reminders, and raise/track complaints online for Bharat BillPay transactions using their CRED app.
This association is a significant development for the payments ecosystem as CRED has been a key partner in the Bill Payment segment. As an Agent Institution, CRED will create member touchpoints, provide member assistance (registration, Quickpay, complaint resolution), instant confirmation, awareness (payment and charges), BBPS brand visibility, etc.
How to use:
1. Open CRED app and navigate to “Pay” tab
2. Allow CRED to fetch all of your pending bills or select the category that you want to make the payment for like electricity bill, mobile recharge, etc.
3. Select the bill fetched by CRED or enter your biller and account details by yourself
4. Check or enter the amount you want to make the payment for
5. Pay using either your Credit Card or UPI
“Creating a rewarding and seamless transaction experience remains our focus at CRED. BBPS integration will help enhance member experience for recurring payments like electricity, FASTags, education fee, rentpay amongst others,” said Akshay Aedula, Lead – Financial Services, CRED.
Rahul Tandon, Head Product Development, NPCI Bharat BillPay Ltd. said, “CRED has managed excellent growth as a credit card bill payment platform and we are pleased to onboard them as an Agent Institution. This will make it easier for CRED members to pay bills via our platform, which provides a one-stop destination for all recurring bills through a simplified bill presentment and bill payments interface. We look forward to continuing on-boarding varied ecosystem partners to offer an extra layer of comfort and convenience to citizens of India for their recurring payments under the BBPS scheme.”
Currently, Bharat BillPay offers recurring payment services to customers across several segments. It is growing rapidly on account of the ease and accessibility it offers to the customers and the one-stop solution to Billers for low-cost collections. The platform offers 20,000+ billers across multiple banks and non-bank channels and has 900+ Agent Institutions live on the platform.