ET Explainer: Issues with credit card bill payments through third-party apps

Effective July 1, RBI mandates all banks use BBPS for credit card payments, enhancing security and standardizing grievance redressal. Major banks like HDFC and Axis Bank are integrating. Auto debit, net banking payments route through BBPS. Apps like PhonePe adapt. Payments Council of India's extension request was denied, impacting fintech app margins.