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True Balance Collaborates with Bharat Bill Payment for a Universal Payment App

Wednesday, 20 June 2018, 00:49 IST
By SiliconIndia
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True Balance, a digital wallet and financial services platform joined hands with a centralized bill payment system that is RBI conceptualized Bharat Bill payment system (BBPS), to facilitate quick and easy payments. The partnership with BBPS enable True Balance to become ‘One Stop Shop’ for quick mobile recharges and utility bill payments like electricity, gas, telephone and direct-to-home (DTH) television service. With this collaboration, True Balance features rate cutters, smart alerts and one tap recharge. Whereas, BBPS is a centralized bill payment services that allow users to use a single website for all payments like monthly mobile phones, gas, electricity bills and more. It also offers payment services to customers with the help of network agents that provides instant confirmation of payments.

Speaking on the partnership, Charlie Lee, CEO, True Balance, says, “We are committed towards our goal of extending financial inclusion to the next billion Indian users and reducing the digital divide in the country. An integration with BBPS will allow us to bring basic Fintech services within the reach of every Indian.  We are now a holistic payments app which offers efficient, cost effective and secure payments to all our 50million user base.” 

True Balance, a financial services platform was launched in 2014 by Balance Hero and it aims at covering bill management and payment of prepaid and postpaid services in India. It offers its users exciting cashback and membership options, instant payment alerts, funds and installment payment plans. Recently, True Balance added DTH bill payment services to its portfolio and all BBPS registered users including 52 electricity board, eight gas billers and six DTH billers.

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