Credit Card Bill Payments: Comparison of Bank Apps vs. Third-party Platforms

Credit card bill payments can be efficiently managed via bank apps or third-party platforms. Understanding their features can help you select the most suitable option.

Bank Apps for Credit Card Bill Payments

Bank apps offer quick, secure, and integrated options to pay your credit card bills through the following methods:

• Net Banking: Pay credit card bills directly through net banking on bank websites or mobile apps.
• UPI (Unified Payments Interface): Leverage the speed and convenience of UPI transactions by linking your credit card to UPI-enabled apps.
• Auto-debit: Some banks allow automatic deductions of credit card bills from linked accounts on the due date.
• Mobile Banking Apps: These apps often include helpful features like bill reminders, payment history, and flexible payment options.

Third-party Platforms for Credit Card Bill Payments

Third-party platforms, supported by the Bharat Bill Payment System (BBPS), simplify credit card bill payments with additional flexibility. Key features include:

• BBPS: Managed by the National Payments Corporation of India (NPCI) and mandated by the Reserve Bank of India (RBI), BBPS ensures secure, reliable, and interoperable bill payment services.
• Participating Banks: Credit card bills can be paid via banks integrated with BBPS, such as AU Small Finance Bank, Bank of Baroda, ICICI Bank, and Punjab National Bank. BBPS manages payment processing, even when initiated through third-party apps.
• Third-party Platforms: Apps like CRED, PhonePe, Amazon Pay, and Paytm facilitate credit card bill payments, offering user-friendly interfaces and notifications for due dates.

Understanding the differences between bank apps and third-party platforms enables users to choose the most convenient and secure option based on their preferences. Each approach has unique features, allowing individuals to manage their payments efficiently while ensuring reliability and transaction security.