Infibeam Avenues Announces RBI Perpetual Renewal of Bharat Bill Payment License

Infibeam Avenues Limited, India’s first listed fintech company, has received a permanent licence from the Reserve Bank of India (RBI) to operate as a Bharat Bill Payment Operating Unit (BBPOU) under the Bharat Bill Payment System (BBPS). BillAvenue, as a BBPOU, serves as both a biller and a customer operating unit, onboarding Billers and Agent Institutions to service the customers.

The perpetual licence will enable the company to provide safe, secure, and uninterrupted services to our 18,000+ billers, agent institutions, and one million agents spread across 2000 cities and towns in India. It will also aid in the expansion of the company into India’s hinterlands.

“BillAvenue is a unified, interoperable online bill payment platform built on the NPCI’s Bharat BillPay infrastructure to provide ‘anytime, anywhere’ bill payment facilities to customers across India through a network of small & medium agents to large Agent Institutions (AI),” according to Infibeam Avenues Ltd.

Among its clients are telecom, broadband companies, cable TV, DTH players, electricity distribution companies, LPG & Gas distribution companies, FASTAG, health insurance, life insurance, NBFCs, and municipalities. BillAvenue was among the first non-bank service providers to obtain an RBI-licensed operating unit licence in 2017 in order to onboard billers and agents across India.

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