Bbps Agent Institution Agreement

The loger and the company enter into an agreement on the activities and responsibilities of the loger and the company. The loger appoints the company on a non-exclusive, principally basis for the provision of payment collection services made by Biller`s customers against Billers` invoices. The company provides, as BBPOU, extensive payment options that allow Biller customers or other parties to make payments to the Biller through different payment methods (payment methods) as shown below: Scope: This section governs the terms of use of Bill Presentment Service of Infibeam Avenues Limited (“BillAvenue”). As mentioned above, The Reserve Bank of India (RBI) has imposed the implementation of Bharat BillPay (BBP) as an integrated invoice payment system in the country, offering interoperable and accessible bill payment services with a single brand image through a network of agents, as well as digital and online channels, enabling customers and the general public to enjoy comfort in paying invoices “anywhere.” NPCI was invited by the Reserve Bank of India to operate the Bharat BillPay as the Bharat BillPay Central Unit (BBPCU) and to establish the operational, technical and commercial standards necessary for the entire BBP and its participants, as well as clearing and settlement transactions related to various BBPOUs involved in invoice payment transactions. BillPay Operating Units (BBPO) are authorized by the RBI to act as operational units under the BBP in order to operate in accordance with the rules of procedure, standards, circulars and notifications established by BBPCU. BBPO have the right to process both ON-US invoices, i.e. invoices for which the account intermediary or related collection channel belongs to the same BBPOU, as THE OFF-US invoices, i.e. invoices for which the billing and relative payment intermediary, or the outlet or channel separate are part of BBPOus. The clearing and settlement of OFF-US transactions related to invoice payments involving more than one BBPOU is made by BBPCU in BBPOU`s settlement accounts with RBI.