Categories: Business

NPCI Bharat BillPay launches NOCS platform to process ONDC transactions

NPCI’s NBBL Launches NOCS Platform for ONDC Transactions:

The National Payments Corporation of India’s (NPCI) subsidiary, NPCI Bharat BillPay Ltd (NBBL), has launched the NOCS platform to provide reconciliation and settlement services for transactions made on the Open Network for Digital Commerce (ONDC) network. This platform will serve as the foundation for the ONDC network and enable secure and timely transfer of funds to network participants.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Integrated Platform:

The NOCS platform is integrated with banks, fintechs, and e-commerce players, and will soon go live with the first set of five banks on ONDC—AU Small Finance Bank, Axis Bank, HDFC Bank, IDFC First Bank, and YES Bank. According to the release, NBBL is also working closely with ONDC to bring other innovations to the ecosystem and launch more value-added solutions for the customers, sellers, and network participants in the foreseeable future.

Expertise and Populations Scale Platform:

NBBL, with its expertise in running the national platform Bharat BillPay, has developed NOCS to aid ONDC in its mission. This will offer a population-scale platform to tackle the challenges posed by the increased volume of transactions occurring among different entities on the network. NBBL operates the Bharat BillPay platform, which processes millions of transactions per month and has over 20,000 billers.

ONDC Platform:

The ONDC platform was set up to facilitate the rapid adoption of e-commerce and boost and strengthen the growth of startups in India. This is done by facilitating scalable and cost-effective e-commerce through the open protocol.

Also Read: PM Modi launches railway projects, methanol plant in Assam

Find More Business News Here

Piyush Shukla

Recent Posts

Which District of Uttar Pradesh is Known as the City of Rose Water?

There are many cities in India that are known for something special, like species, textiles…

14 hours ago

Jagannath Rath Yatra 2025 Begins with Snana Purnima Today; Check Full Schedule, Start and End Dates

Every year in Puri, Odisha, a very special festival takes place to honor Lord Jagannath,…

16 hours ago

Katrina Kaif Appointed Global Tourism Ambassador for the Maldives

In a strategic tourism and diplomatic move, Bollywood actor Katrina Kaif has been named the…

16 hours ago

GK Quiz on Kabir Das Jayanti 2025, Questions and Answers

Kabir Das Jayanti is celebrated every year to remember the birth of Sant Kabir Das,…

17 hours ago

Calcutta High Court Allows 15-Year-Old to Adopt Stepfather’s Surname

In a significant judgment, the Calcutta High Court has permitted a 15-year-old boy to adopt…

19 hours ago

Sri Lanka Celebrates Poson Poya: Honoring 2000 Years of Buddhism

Sri Lanka is observing the sacred Poson Poya festival today, which commemorates the arrival of…

19 hours ago