In a diverse and large economy like India, paying bills used to be a challenge for both the customers and service providers. Earlier when unified payment systems were not yet available, customers were forced to wade through collection outlets and websites, often hampered by limited operational hours and geographical barriers. In turn, that meant services had to spend big on building and operating their own collection infrastructure.

The Birth of a Solution

In view of these pain points, the Reserve Bank of India (RBI) envisaged a solution that could revolutionise payments across the country. This vision shaped into Bharat Connect (known before Bharat BillPay), a game-changing platform built to bring businesses and customers under a single, unified system.

The journey began in 2013 when the RBI commissioned a national study through a the Government Internal Revenue Order (GIRO) advisory committee. This laid the foundation of one of the most transformative financial infrastructures in India. The guidelines and structure were formalized by 2015, followed by a pilot launch in 2016. The system was launched in 2017 with select payment categories, while the brand was launched the following year, in 2018.

How Bharat Connect Works

Essentially, Bharat Connect is an interface that connects customers and billers, so they can process payments using the same system. The system supports multiple payment modes, having access to over 21,000 billers which can be connected to millions of customers across India through a single platform.

The ecosystem has several key participants:

• Customers: Individuals residing in India, or NRIs, who need to make payments to service providers in India.
• Agents: Local kirana stores to bank branches and digital apps are authorised to collect payments and provide the necessary infrastructure for customers.
• Agent Institutions: These organizations onboard agents at various locations and act as an intermediary between agents and Bharat Connect.
• Customer Operating Units (COUs): RBI authorised banks or non-bank entities responsible for onboarding agents and, in some cases act as intermediaries.
• Bharat Connect Central Unit: The single authorised body operating the platform, responsible for onboarding COUs, BOUs and their billers.
• Biller Operating Units (BOUs): The service provider's side similar to COUs, BOUs are authorized by the RBI to onboard service providers and build relationships with them.
• Billers: These are the service providers operating in different regions of India that generate bills for the services they provide.
• Developers: Specialists empanelled by Bharat Connect who use customized technology to onboard partners onto the system.

Advantages of Bharat Connect Platform

Here are some of the features that the Bharat Connect platform provides for customers and billers:

For Customers:

• Unified Payment Experience: Make payments for all bills from a single platform, from anywhere and at any time.
• Choice of Payment Modes: Choose from an array of payment modes according to convenience.
• Real-time Confirmation: Instant notifications of payment transfers via SMS or printed copy.
• Centralised Dispute Management: Register any complaint related to the supported bill on a single platform.
• Enhanced Security: Every transaction is digitally recorded securely.

For Billers:

• Timely Collection: A streamlined process helps to ensure timely payments.
• Lower Cost of Infrastructure: Does not require separate collection outlets and websites.
• Quick Settlement: Efficient processing and settlements of transactions.
• Engagement with genuine users: Less risk of fraud as customers are verified.

Milestones and Growth

Bharat Connect has seen phenomenal expansion since its launch:

• 2019: Scaled from 5 payment categories to more than 20.
• 2021: Establishment of NPCI Bharat BillPay Limited (NBBL).
• 2022: Cross border bill payments and approval as a Settlement Agency in ONDC.
• 2023: Reaches 100 million+ transactions mark.

Moving forward, the scope of the platform is envisaged to grow further, as may be evident from the monetary policy, showcasing the dedication of the RBI towards enhancing the digital payment infrastructure in India.

Looking Ahead

Bharat Connect is on a mission to make bill payments easy for every Indian as it continues to expand. The platform has everything under one roof with its seamless infrastructure, full ecosystem, and complete focus towards its customers as a solution provider, which makes it one of the most promising players in the revolution of India's digital payment landscape. Bharat Connect simply provides a very easy route for easy transactions in a fast growing digital India for customers and businesses keen on experiencing the benefits of this unified payment system.