True Balance has announced a tie-up with Bharat Bill payment system (BBPS), an RBI conceptualized system, to facilitate quick and easy bill payments. Partnership with BBPS will enable users to reap maximum benefits while making payments as well as gain an added advantage of True Balance features like Rate cutters, Smart alerts and One Tap Recharge.
The BBPS is a centralized bill payment system that allows users to use a single website or outlet to make multiple payments which may be repetitive like monthly mobile phone, gas and electricity bills. It offers interoperable and accessible bill payment service to customers, through a network of agents which can provide instant confirmation of payments. Last month True Balance also added DTH bill payment services to its portfolio. With the integration of BPPS, the platform will cover all BBPS registered users including 52 Electricity boards, 8 Gas billers and 6 DTH billers.
Commenting on the development, Charlie Lee, CEO, True Balance said- “We are committed towards our goal of extending financial inclusion to the next billion Indian users and reducing the digital divide in the country. An integration with BBPS will allow us to bring basic Fintech services within the reach of every Indian. We are now a holistic payments app which offers efficient, cost-effective and secure payments to all our 50 million user base.”
Launched in 2014 by Balance Hero, True Balance app covers bill management and payment of prepaid and Postpaid services in India over 10 networks across 22 circles. The platform also offers mobile wallet and utility bill payment services. Apart from providing a simplistic and time-saving bill pay experience, True Balance app also offers its users exciting cashback and membership options, instant payment alerts, refunds and instalment payment plans.