Building an ecosystem of collections through BBPS
by Disha Bhavnani, Pramiti Lonkar and Akshat Pathak
Sep 6, 2023
1 min
Digital payments in India have surged, projected to exceed $10 trillion by 2026. A key contributor is the digitization of bill payments and collections, with BBPS aiming to be India’s primary collections platform, offering secure and standardized solutions. MSC explores BBPS’s journey and future potential in this white paper.
Digital payments in India grew phenomenally in the past decade and are expected to rise over USD 10 trillion by 2026. The digitization of bill payments and collections will comprise a significant part of this growth while it improves access to financial services.
BBPS intends to use its standardized, interoperable, and secure payment solution. It, thus, remains at the core of India’s collections ecosystem. It seeks to become the country’s de facto collections platform. In this new white paper, MSC traces BBPS’s journey and examines its potential in the next decade.
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