TJSB Bank & Mahagram launchig BBPS on 15000 eGram Kendras accross India

MUMBAI, India - March 10, 2018 - PRLog -- A fintech company, Mahagram^® is Agent Institution (https://www.npci.org.in/bharat-billpay-live-members) (AI) registered (Sr.No.101 (https://www.npci.org.in/bharat-billpay-live-members)) on NPCI's BBPS platform under TJSB bank (BBPOU) and a rising fintech company of the country focusing on financial inclusion & assisted ecommerce and banking, has successfully tied up with TJSB  Sahakari Bank Ltd. for Bharat Bill Payment System (BBPS).The company has announced it after amalgamating its payment services with the Bharat Bill Payment System (BBPS^®) monitored by National Payment Corporation (NPCI).Mahagram has a digital financial services platform known as "eGram^®" that has brought a payment revolution by delivering an integrated range of services on a robust transaction platform. Aiming at BBPS,Mahagram is trying to resolve difficulties by assisting in a number of services to people's doorsteps. Like digital payment industry it offers services to help India go cashless.

The Bharat Bill Payment System is a Reserve Bank of India (RBI^®) conceptualized system driven by National Payments Corporation of India (NPCI^®). It is a one-stop payment platform for all bills, providing an interoperable and accessible bill payment service to all customers across India with certainty, reliability and safety of transactions. NPCI will act as an authorized India Bill Payment Central Unit (BBPCU), which will be accountable for laying the foundations of business standards, rules and procedures for all participants assisting technical and business needs. BBPS will cover repetitious payments for any category of everyday utility services.

BBPS has multiple modes of payment. It provides instant confirmation of payment via SMS or receipt. BBPS offers myriad bill collection categories like electricity, telecom, DTH, gas, water bills, etc. through a single window. Further, they are planning to expand their categories to insurance premium, mutual funds, school fees, institution fees, credit cards, local taxes, invoice payments, etc. An effective mechanism for handling consumer complaints has also been put in place to support consumer regarding any bill related problems in BBPS.

Speaking on the advancement, Mr. Ram Shriram, Founder & CEO, Mahagram said, "India has predominantly been a cash-obsessed nation, and when 99 percent of the economy was deprived of it, they had no option but to go digital"

He added, "The Internet is becoming the Town square for the Global village of tomorrow and Bill payments through IOT brings service providers and clients nearer.The government will always play a huge role in solving big problems by setting public policies. Bharat BillPay is one such policy-making that makes the bill payments easy and fairly priced.

Digital Bill payment encompasses customers and merchants as holdings two poles of the ecosystem. We act as a fulcrum in between."

About Mahagram (http://mahagram.in/)

Mahgram is Mumbai based 'Fintech' startup. It is a tech driven company focusing on alternate payments technologies. By partnering with banks and financial institutions providing hundreds of millions of Indians who are underbanked and who do not have the capability to resolve basic banking services and government schemes. The objective is to help customers with travel costs, retails and financial services through the internet. They help government and its local government bodies with automated and computerized certificate issuance & Tax/Cess collection. Their mission is to entitle every Indian with an easy means of approach to digital payments.

With this payment gateway and easily accessible usage, people of rural and semi-rural areas across India can leverage upon the offered facilities. The purpose of Mahagram is to make it easy for customers who are under no-data connectivity or still using old feature phones. This initiative is sure to act as a major catalyst for digital payments a big leap towards Digital India.