On Monday, Paytm Payments Bank said it had received final approval from the Reserve Bank of India (RBI) to operate as the Bharat Bill Payment Operating Unit (BBPOU).

Under Bharat Bill Payment System (BBPS), BBPOU facilitates bill payment services for electricity, phone, DTH, water, gas insurance, loan repayment, FASTag recharge, education fees, credit card bills and municipal taxes.

The National Payments Corporation of India owns BBPS. Paytm Payments Bank Limited (PPBL) is carrying out this activity under in-principle authorization from RBI.

“PPBL has received final approval from RBI to operate as a Bharat Bill Payment Operating Unit (BBPOU) under the Payment and Settlement Systems Act, 2007. As an entity under the Bharat Bill Payment System (BBPS), PPBL has received final authorisation to conduct billing as a BBPOU payment and aggregation business,” the company said in a statement.

Following the direction of RBI, PPBL will display all institutions on its website.