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Axis Bank Boosts Payments for 37M Customers via NBBL
9 Apr
Summary
- Axis Bank now live on NBBL's Banking Connect platform.
- Integration benefits 37 million Axis Bank customers.
- Platform offers faster checkout across 4,800+ merchants.
Axis Bank has officially joined the NPCI Bharat BillPay (NBBL) Banking Connect platform, a significant move that integrates the bank with other major financial institutions like SBI, ICICI Bank, and HDFC Bank. This strategic integration is poised to revolutionize the digital payment experience for Axis Bank's 37 million customers.
Customers can now anticipate a faster checkout process and a more streamlined netbanking journey when transacting with over 4,800 merchants in India. NBBL's Banking Connect platform is designed to simplify onboarding and reduce integration times for payment aggregators.
Furthermore, the platform offers enhanced features such as Direct-to-Merchant Settlements and Third-Party Verification, catering to businesses with complex payment needs. This advancement is expected to bolster operational efficiency and convenience within India's rapidly expanding digital payments landscape.
NBBL, a wholly-owned subsidiary of the National Payments Corporation of India, acts as a central switch, enabling interoperability between payment aggregators and banks. This eliminates the need for multiple bilateral tie-ups, as was common in legacy netbanking models.
