Another story on #PayTech from @TheKenWeb, this time on @BharatBillPay #BBPS and NPCI being a behemoth…. Time for thread again, full disclosure I haven't read @tam_arund piece since I dont subscribe.
First up some fact checking on email, tweets. Then some commentary about BBPS, then the larger idea of NPCI being the behemoth, what it means to industry, @CashlessConsumr and the whole data game.
First, commentary on the email from @r0h1n

// Because there’s just no telling when it will decide to become a competitor. //

They are in for it to super control the market, not compete. Even on BHIM in UPI, technically, NPCI is operator, the banks are the players market wise.
Bharat Bill Pay does not compete against Billdesk. They super regulate / control Billdesk. There is probably little truth to fact, NPCI's entry democratizing market and changing market shares rapidly. Its like bloated Aadhaar marketing. Large players will remain large.
What NPCI gets is, a centralization of data, semblance of growing the industry (bringing in more players on board), but in reality, only select few gets privileged access, open contempt for non banks and propogating #BankLedModel acting as quasi regulator, captured by interests
What NPCI gets is, a centralization of data, semblance of growing the industry (bringing in more players on board), but in reality, only select few gets privileged access, open contempt for non banks and propagating #BankLedModel acting as quasi regulator, captured by interests
//Because NPCI has not only come up with a bill payment platform, Bharat BillPay// NPCI didnt come up. RBI constituted 2 committees, IBPS, BBPS were envisioned, there was discussion of even seperate org, but NPCI captured it through power play, lobbying, what not.
//will create an alternative to BillDesk// BharatBillPay is NOT alternative to BillDesk, its a overarching platform built on top of Billdesk, which will platformize the solution, allowing other players to be in market.
Whats happening in #BBPS is not just platformizing & being overarching platform,but key component is data centralization. Read more @50pConf blog post on "BBPS — Making households data-rich" to get data/credit score aspects of it,links to RBI comm as well
BillDesk created an impenetrable. Who else was impenetrable in bill payments? Dingy player called TNEB who had 0 MDR across all banks, because who literally provides power to them? TNEB. How can banks play MDR game there to power company
Dont take my word, Look what NPCI said in its PR.
"TNEB is 1 of the unique billers joining the interoperable bill payment ecosystem for the first time". What most people don't realize is this is not just some bill payments market. Its data game, for credit scores & more.
#BBPS is not just about making households data rich, It also makes (many state owned PSU) utility companies data rich, the value of data, will mean a whole lot more in era where utility companies will be divested increasingly.
The state government owned PSU companies, were short sighted, just like in GST, opted for BBPS (some through force), to see increased revenue opportunities, in exchange for crucial business data which they will hurt them back.
Platformizing for data, is not just in BBPS.Its with every #BullyStack project. Look #FASTag through prism of auctioning toll operate contracts for large investment firms. Yes, that's government divesting highways with tax payer built roads, "intelligently"(?) through FASTag data
The "intelligently" is questionable and will be root of all current / future scams. The beauty of it is, with all this data being present in unaccountable private companies, masquerading as "National" platforms, one can't prove it.
There are huge natsec risks in having this level of centralized data,that country could be held captive at ease,by any power that has access to data.Given #BullyStack's history competence to protect data,sense has to prevail sooner to prevent disasters,or war as @Stupidosaur says
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