New Delhi: PhonePe has partnered with Bharat Connect (formerly BBPS) to introduce a seamless, secure, and user-friendly way for millions of users to contribute to the National Pension System (NPS) directly through the PhonePe app.
This new feature allows users to make contributions towards their NPS accounts conveniently, bypassing traditional methods such as PFRDA websites, banks, and third-party platforms. NPS is a popular tax-saving tool for retirement planning, and this collaboration aims to make it even more accessible to underserved populations across India.
Noopur Chaturvedi, CEO of NPCI Bharat BillPay Limited, called the integration a "significant step" towards simplifying retirement investment management. Sonika Chandra, Chief Business Officer of Consumer Payments at PhonePe, highlighted the partnership's potential for growth, calling it a game-changer in the ease of savings and payments.
To use the feature, PhonePe users can navigate to the 'recharges and pay bills' section of the app, select ‘National Pension System’ under ‘Financial Services and Taxes,’ and easily make contributions by entering their PRAN or mobile number, birth date, tier, and amount. The process is designed to be intuitive, with multiple payment options available for users to complete the transaction.
With IANS inputs