How it Works
As part of BBPS onboarding process, we get your Receiving Bank account details and get your logo to go live in BBPS Platform.
We integrate with your system to fetch EMI dues if NACH Mandate is not collected or to fetch only overdue accounts. NACH mandate is the first level of collection mechanism and BBPS is used as the second round of payment mechanism.
When the user clicks on your logo, the next screen asks for Loan Account number on submit, BBPS system makes an API call to Lendingstack to get the overdue amount instantly.
Even if this user does not make a payment, this behaviour is recorded as an intent to pay and intimated to collection suite for immediate action.
If Payment is successful, the API call will update instantly. It can be updated back to your Backend system overnight or through an API call.
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