Walking through the BBPS workflow from a Biller’s standpoint…
From a customer (aam aadmi) standpoint, he opens the Axis Bank’s App… and notices this.
He notices that the biller is now listed here.
Ofcourse the “onboarding” process isn’t that easy for the BBPOU, ( cuz laws and what not)…includes
- Ensure the legitimacy of the Biller (make sure he’s not bankrupt , not blacklisted and all…)
- Ensure the money from the payer reaches the biller’s account within 2 days from transaction.
- <~ add more pain points here ~/>
How does Setu fit into the picture? Does it promise to take away all the responsibilities of the BBPOU when it says " we absorb the regulatory complexity so you don’t have to." ? Can we have a detailed break down of how Setu makes BBPS integration easy for the both the Biller and BBPOU ?