Tag Archives: credit card payments

RBI Mandates BBPS for Credit Card Payments, Disrupts Third-Party App Use like CRED and PhonePe

RBI's New Guidelines Disrupt Credit Card Payments via Third-Party Apps like CRED and PhonePe

The Reserve Bank of India (RBI) has rolled out stringent guidelines effective July 1, impacting how credit card bills can be paid through third-party apps. According to the latest regulations, all credit card bill payments via such apps must now be routed through the Bharat Bill Payment System (BBPS), managed by the National Payments Corporation of India (NPCI).

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