Bharat BillPay to offer recurring payments to farmers across India in collaboration with FAARMS
By Pinkerala News Desk | Apr 30, 2022
Now, farmers can easily pay their recurring payments via Bharat BillPay on the FAARMS app
Mumbai – 29 April 2022: Bharat Bill Payment System, the one-stop platform for facilitating all recurring payments across categories has collaborated with FAARMS to enable the recurring payments facility for all the farmers across India. Through the FAARMS app, farmers can easily access a complete spectrum of products and services that include seeds, fertilizers, pesticides, animal feed, and more products delivered right at their doorstep. This collaboration will help to create a marketplace for the farmers across India wherein they can purchase products as well as manage various recurring payments like electricity, loan repayments, water bills, etc. on the same app.
In its continuous endeavor to support the Government of India and RBI’s vision for a cash-lite economy, Bharat BillPay has continuously strived to collaborate with new partners and facilitate digital inclusion by making recurring payments easy for the end-users. With this collaboration, Bharat BillPay will help in hand-holding, enabling, and driving each Indian household towards a seamless digital journey.
Currently, Bharat BillPay offers recurring payment services to customers across categories such as electricity, telecom, DTH, gas, education fees, water & municipal taxes, NETC FASTag recharge, loan repayments, and insurance, cable, subscription fees, mobile prepaid recharges, and many others.
Noopur Chaturvedi, CEO, NPCI Bharat BillPay Ltd. (NBBL) said, “We are glad to collaborate with FAARMS to make life easier, safer, and effortless for every Indian household through Bharat BillPay. This partnership is a step towards bringing farmers into the mainstream digital payments ecosystem and bridging the financial inclusion gap for the last mile of the country. We look forward to collaborating with many new players to create a network effect and provide a convenient, uniform, and assured transaction experience to farmers and many such households across India.”
Taranbir Singh - CEO and Co-founder of FAARMS said, "We have been working on the ground in spreading digital payment literacy among the farming community. We believe Bharat BillPay will revolutionize the waybills have been traditionally paid in India. The collaboration with the Government of India to integrate Bharat BillPay into the FAARMS app will give direct access to rural India to pay all their bills anytime anywhere instantly. This is a life-altering moment and we are glad to be the catalyst here."
Alok Duggal, COO, and Co-founder of FAARMS says, "We have a deep reach in the remotest of villages in northern & central India and have been successful in gaining the trust of the farming community in the last 2 years. This helped us become one of the first agri-startup to tie up with, for connecting brands with the rural community".
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. An initiative of RBI and IBA under the provisions of the Payment and Settlement Systems Act, 2007, NPCI was initiated for creating a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC) and Bharat BillPay.
NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payment solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.
About NPCI Bharat BillPay Ltd.
NPCI Bharat BillPay Ltd. is a wholly-owned subsidiary of the National Payments Corporation of India. Came into effect on April 1, 2021, NBBL is growing rapidly on account of the ease and accessibility it offers to the customers and the one-stop solution to Billers for low-cost collections. The platform offers 20,000+ billers across multiple banks and non-bank channels.
Founded by veteran bankers for the rural sector, Taranbir Singh and Alok Duggal, Faarms is one of the fastest-growing and high-impact Agritech start-ups working at the grassroots levels. Faarms is a one-stop online shop for farmers with access to a huge inventory of 3500+ certified products available directly from the manufacturers. From seeds, agrochemicals to cattle feed, and bio-fertilizer the brand makes it available at the click of a button at their doorstep through their multilingual app. Thereby solving many of the challenges faced by farmers today in the absolute hinterland of the farming belt.
Within a short span of time, Faarms has spread across villages in the most important agricultural states such as Punjab, Haryana, Rajasthan, West UP, Uttarakhand, and. Faarms is on a mission to double the average income of the farmers by 2024 and actually has been able to make a difference in the lives of 60% of cattle farmers across 14 villages in the heart of Rajasthan in Kota who experienced a 16% rise in their average income.
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