The Bengaluru-based fintech startup processed 28 million customer transactions worth Rs 4,039 crore in the month, with BillDesk in second place processing around 9.5 million transactions, data released by the National Payments Corp of India showed.
Paytm, HDFC Bank and Airtel Payments Bank are the other top processors in this category.
On the billers’ side, BillDesk, Paytm and Airtel Payments Bank dominated such transactions with 14.6 million, 8.1 million, 5.4 million transactions, respectively, the data – released for the first time – showed.
NPCI did not reveal comparable data from the previous months.
BBPS is an interoperable and integrated bill payment system for online as well as agent-based settlement of recurring bills.
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These transactions are processed by intermediaries called Bharat Bill Payment Operating Units (BBPOUs) as authorized operational units both on the biller side and the customer side.
The NPCI data also showed that private lender Axis Bank had onboarded the most number of billers (19,170) on this network, followed by ICICI Bank (17,986) and Kotak Mahindra Bank (497).
In terms of categories, electricity was the most common use case with 47% of transactions on BBPS in August used for such payment. This was followed by FASTag recharge (16.4%) and DTH payments (12.8%).
Other categories include mobile postpaid, loan repayments, LPG, water bills among others.
BBPS has seen strong traction since 2020, especially over the pandemic, as billers urged customers to make their recurring bill payments through this system to avoid crowding at payment counters and offices.
A total of 58.88 million transactions worth Rs 10,307 crore were processed in August, the data showed.
BBPS was set up by the Reserve Bank of India (RBI) as a wholly owned subsidiary of the NPCI in 2015. The payment network was hived off as a separate subsidiary in April.
ET reported in July that the
firm appointed had former PayU and Airtel Payments Bank executive Noopur Chaturvedi as its new CEO.
NPCI has transferred all its BBPS transaction mandates to a newly set up subsidiary called NPCI Bharat BillPay Ltd (NBBL), effectively hiving off its automated billing business.
All leading banks and aggregators such as State Bank of India, HDFC Bank and BillDesk, among others, are BBPOUs on the platform, processing monthly bill payments for thousands of telecoms, gas companies, discoms, educational institutes and other billers.
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