BBPS-credit card activation: Banks expect 3-4 weeks' leeway for integration

IBA liaising with regulator; issuers put in place systems to go live on BBPS

Major credit card-issuing banks that have not yet integrated themselves with the Bharat Bill Payment System (BBPS) platform for receiving credit card repayment via third-party applications are anticipating a breathing space of three-four weeks from the Reserve Bank of India (RBI) to complete the activation process, according to sources aware of the development.

The Indian Banks’ Association (IBA) is liaising with the RBI on the matter, sources said, adding banks had put in place systems to go live on the BBPS and the process of taking on board all the banks would be completed in a few weeks.