NBBP Launches B2B Services, Partners with Axis Bank

Current Context: NPCI Bharat BillPay Ltd. (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has announced the launch of its services under the business-to-business (B2B) category.

• This initiative aims to reshape the landscape of business payments and collections.
• The B2B category is going live for the first time on the MyJio app for the Biller Arzooo, with Axis Bank as the Biller Operating Unit (BOU).
• Under this category, Bharat BillPay has proposed to onboard sellers (manufacturers, distributors, etc.) as billers and enable their buyers (retailers, shopkeepers, etc.) to pay for the purchased goods and services across Bharat BillPay-enabled channels and modes.
• The platform will offer multiple payment modes like UPI, net banking, cards, wallets, IMPS, cash, etc., along with multiple payment channels like mobile apps, websites, agents, branches, etc.
• In order to cater to the cash flow needs of the B2B segment, Bharat BillPay will also allow partial payments in this category.

Question:

Q.1 What payment modes does the platform offer?
a. UPI, net banking, cards, wallets, IMPS, cash
b. Only UPI and net banking
c. Only cards and wallets
d. Only IMPS and cash