Axis Bank Introduces 'Donation Category' on BBPS
The first bank to enable charitable institutions to accept donations via any BBPS-enabled front ends
MUMBAI, India, Feb. 28, 2024 /PRNewswire/ — Axis Bank, one of the largest private sector banks in India today announced the introduction of donation on Bharat Bill Payment System (BBPS). This pioneering move makes Axis Bank the only BBPS Biller Operating Unit to enable trusts / charitable institutions to accept the contribution via any BBPS-enabled front ends. The facility is designed to change how donations are made, by making it more accessible, transparent, and convenient for people to support noble causes.
With the introduction of the ‘Donation Category’ on BBPS, charitable institutions can collect offerings digitally in a seamless manner ensuring complete transparency and further deepen trust with donors/devotees through this solution. By accepting the payment digitally, the charitable institutions are also able to lower the direct and indirect costs associated with donations in cash. As the sole BBPS Biller Operating Unit, capable of offering this unique service, Axis Bank has customized solutions for various trusts to enhance the payment experience and provide superior service to donors. Furthermore, the integration of link-based payments offer an end-to-end solution for trusts and charitable institutions.
Customers will immediately receive a payment confirmation receipt, adding to the ease of the process. The solution also enables the issuance of 80G certificate to the donors/devotees.
Vivek Gupta, President & Head – Wholesale Banking Products, Axis Bank, said, “Axis Bank has been at the forefront in rolling out pioneering solutions for its clients. The bank has consistently displayed agility in responding to client requirements. Introduction of donation is a giant leap for the BBPS ecosystem. This is the first solution of its kind in the market and helps charitable institutions to accept donations seamlessly with end-to-end tracking. This initiative is an example of innovation in India’s Digital journey that ensures complete transparency for the donor and thus builds trust in the ecosystem. Our team’s dedication and efficiency led to the remarkable achievement of launching this category in under two weeks – a record time for introducing new categories on BBPS.”
About Axis Bank:
Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail Businesses. With its 5,252 domestic branches (including extension counters) and 15,931 ATMs across the country as on 31st December 2023, the network of Axis Bank spreads across 2,910 centres, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.
For further information on Axis Bank, please refer to the website: https://www.axisbank.com
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