Bharat Bill Payment System (BBPS) for Microfinance Institutions (MFIs).
Exploring business model with National Payments Corporation of India (NPCI) to bring #NBFC Microfinance Institutions (MFIs) on Bharat Bill Payment System #BBPS.
It will give #MFIs the option to get their loan repayment collection done through 38 Lakhs Offline and Online touch points of different channels through any agent institutions, COUs, CSCs, telcos etc.
Additionally it will help #rural borrowers, especially the next generation borrowers to repay their loans anytime at their convenience using any digital mode. It should work well with Individual Loans to start with.
It will also help to get a digital trail of transaction for better understanding and product design for mostly offline borrowers.
Can NPCI offer bulk #CashManagementSolution (CMS) through BBPS ?
Please share your thoughts here https://www.linkedin.com/posts/piyushsingh1_nbfc-bbps-mfis-activity-6638265259893288960-rbgG
#fintech #npci #BBPS, #DigitalPayment, #FinTech4Inclusion, #MicrofinanceGoingDigital #Microfinance