Will Reliance Jio activate BBPS for repayment of its Emergency Data Loan?

 

Will Reliance Jio activate BBPS for repayment of its Emergency Data Loan?

Reserve Bank of India vide Notification dt.June 14^th, 2021  opened up BBPS (Bharat Bill Payments System) for  Mobile Prepaid recharges.

Under the mobile prepaid facility, users pay in advance to the Mobile company to avail its services.

A number of prepaid plans are offered by mobile companies, with plan validity ranging from 1 day to 365 days

There are a number of prepaid combos too i.e Data, Voice, Voice + Data etc

As the validity plans and combos are dynamic, users are advised to visit their mobile provider recharge points for an informed decision.

 

Benefits of Reliance Jio offering BBPS option to its ‘Emergency Data Loan’ customers

01)  Reliance Jio can request friends/family members to clear the ‘Emergency Data Loan’

02)  Reduced TAT in the collection of the EDL outstanding’s

03)  The quicker the repayment, the more possibilities of Reliance Jio users taking fresh ‘Emergency Data Loan’

04)  Increase customer stickiness via process convenience

05)  User need not search for easy ‘Emergency Data Loan’ repayment options

06)  ‘Emergency Data Loan’ can be availed by users who are not comfortable with digital payment options

07)  Low integration costs for Reliance Jio collection team.

08)  Positive feedback of Industry’s first usage case for BBPS Pre- Paid Recharge category

 

Proposed process:

Reliance Jio onboards BBPS for its prepaid recharges and ‘Emergency Data Loan’ payment

‘Emergency Data Loan’ Payment

For every ‘Emergency Data Loan’ availed, a BBPS invoice is created with BBPS Invoice Number being the unique identifier

Jio user or his/her representative visits any BBPS outlet - Physical or Digital, chooses

Mobile Prepaid                       Reliance Jio                 Inputs Reliance Jio Number followed by Reliance Jio ‘Emergency Data Loan’ Invoice Number.

The outstanding amount pops up and the user completes the payment

Alternatively, a Unique repayment BBPS QR Code is generated for each ‘Emergency Data Loan’ and repayment made by scanning on the same.

BBPS is operated by the National Payments Corporation of India (NPCI), which offers an interoperable platform for recurring bill payments.

Drawbacks:

Who will bear the BBPS charges? Reliance Jio or the end customer