Consider the following statements about Bharat Bill Payment System BBPS Under BBPS a customer can pa...........

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Consider the following statements about Bharat Bill Payment System (BBPS).

Under BBPS, a customer can pay several bills at a single location.
BBPS transactions can be initiated only through Internet for enhanced security.

Which of the above is/are correct?

1 only

2 only

Both 1 and 2

None

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Explanation:

Statement 1: It is a RBI conceptualized system driven by National Payments Corporation of India (NPCI). It is a one-stop payment platform for all bills providing an interoperable and accessible “Anytime Anywhere” bill payment service to all customers across India with certainty, reliability and safety of transactions.

Statement 2: BBPS transaction can be initiated through multiple payment channels like Internet, Internet Banking, Mobile, Mobile-Banking, POS (Point of Sale terminal), Mobile Wallets, MPOS (Mobile Point of Sale terminal), Kiosk, ATM, Bank Branch, Agents and Business Correspondents.