BBPS Module should be mandatory for Corporate Net Banking Portals

 

Period.

Corporate customers mean all Current Account / Overdraft Account holders of respective banks.

 

Is it so difficult for Banks to offer BBPS Module in their Corporate Net Banking portals?

Many of the main stream banks in India have separate Net Banking portals for Personal and Current Account customers.

Few banks offer specialised ‘Cash Management Services’, portals too. Normally, the CMS Portals are fee-based with lots of customisations.

The CMS portal with its myriad tools may not be suitable for typical Current Account customers.

Few banks ex ICICI Bank offer ‘Bill Payment’, services for their corporate net banking customers. However, it is not clear whether BBPS is the transaction mode or is their bilateral transaction mode.

Quote: ICICI Bank

Q: What are the various modes of fund transfer available through Corporate Internet Banking (CIB)?

Ans: CIB offers one-to-one funds transfer to ICICI Bank and Non-ICICI Bank accounts. You can transfer funds to multiple beneficiaries using Bulk File Upload through CIB. You can also make tax payments and bill payments through CIB.

Unquote

 

The transaction rules in the BBPS Module in Corporate Banking Net Portals can be customised based on customer feedback.

Customisation samples:

A)     Access to only specified users

B)     Auto Pay only on working days

C)     Detailed Bill Analysis  

Corporate customers who submit NACH Debit Mandates for their Utility Bill Payments will be the first set off customers to adopt BBPS Module.

·         The next set of customers to adopt BBPS Module will be those who want to remove the pain of bills payments via Cheques/Demand Drafts/NEFT/RTGS/IMPS/Cash and experience the magic of Bill Auto Pay.

·         The next set of customers to adopt BBPS Module will be the Finance Teams of the respective corporates. They will want BBPS Module to reduce the monthly drudgery of physical bill payments.

·         The next set of customers to adopt BBPS Module will be Chartered Accountants. CA’s will advise their customers to opt for the ‘Auto Bill Pay’ option in the Bank’s net banking portals.

Hope to this see the above Page on NPCI Website soon

Disclaimer: The bottom line is 80% all Bill Payments should happen via BBPS only.