MasterCard and South Indian Bank join hands to promote Safe ePayments

-

          ‘Merchant in a Box’ solution enables SMEs to make payments to over 3 million merchants in India and 40 million merchants globally using MasterCard business debit card.
          The Key features of ‘Merchant in a Box’ are:

Feature 01) Merchants can collect payments from their customers through Bharat QR. This payments reflects as Credits in the respective Bank Accounts

Feature 02) Through the MasterCard Business Debit Card, merchants can digitally pay for their purchases from their suppliers. These purchases reflect as Debits in the respective Bank Accounts

Feature 03) The ‘Merchant in a Box’ simultaneously takes care of the Credits and Debits in the merchants bank accounts.

Read the full MasterCard Press Release here @ Mastercard and South Indian Bank Launch ‘Merchant in a Box’ Bundled Payments Solution for Merchants  

South Indian Bank has a physical presence all over India through 857+ Branches, 56+ extension counters and also customers can access their bank accounts through Net Banking, Debit Crads, NPCI_BHIM

          South Indian Bank has the largest number of branches in Kerala followed by Tamil Nadu.

The ‘Merchant in a Box’ will enable South Indian Bank business customers to quickly scale up their Digital transactions capabilities.

The ‘Merchant in a Box’ will enable MasterCard to quickly offer its products to a large number of merchants.

Q: What is Bharat QR?

Ans: Bharat QR is P2M (Person to Merchant) Mobile payment solution.
This solution is mutually derived among NPCI, Visa and Mastercard payment networks.


Once the BQR codes are deployed on Merchant locations, user can pay the bills using BQR enabled mobile banking apps without sharing any user credentials to the merchant. It is a quick method of payment.

          So, next time look out for Bharat QR sign in your neighbourhood store.

Comments

Post a Comment

Popular posts from this blog

CERTIFICATE EXAMINATION IN INTERNATIONAL TRADE FINANCE

-
Image
          This certification is essential for all members of a Bank Trade Finance Department.   The syllabus covers key aspects required by team members to effectively discharge their duties. Trade Finance is one of the traditional forms of bank finance in India. In view of reforms and liberalisation, this has gained a new significance.   Many of the practices in trade finance have evolved over a period of time and some are guided by Ministry of Commerce and Reserve Bank of India, besides WTO and International Chamber of Commerce through UCPDC 600. With the increase in the volume of trade both domestically and internationally, there is a need for trade finance professionals from banks as well as corporates. The Objectives of this IIBF Examination is as under:   (i) To provide candidates with competencies required to function as trade finance practitioners. (ii) To enable candidates to possess the needed skill and knowledge to understand clients' needs
Read more

IIBF-Certificate Examination in Foreign Exchange Facilities for Individuals

-
          The primary objective this IIBF course is to make the branch officials familiar with the FEMA provisions that impact their day to day functioning at the branch level.     This exam is being introduced pursuant to the recommendation of a committee of RBI.           Normally foreign exchange transactions pertaining to individuals are handled at branches only and are not referred to specialised forex cells.           The course covers ‘Foreign Exchange Facilities for individuals under FEMA1999’ RBIs FAQs’ on Forex Facilities for Residents (Individuals) (updated up to November 21, 2014) For full details refer to Reserve Bank of India website: Introduction : The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Under the Foreign Exchange Management Act, 1999 (FEMA), which came into force with effect from June 1, 2000, all transactions involving forei
Read more

Feedback on BB-Instant Vending Machines customer review_ “while login (maximum account limit reached for this number) problem”

-
Image
          Office goers in Bengaluru, Hyderabad and Noida along with apartment dwellers in Bengaluru, Hyderabad and Noida are doing a bit of their daily shopping through BB-Instant Vending Machines.           Vending machines in India are still a novelty and most of the vending machines expect hard physical cash to dispense the goods.           Fortunately, BB-Instant Vending Machine is 100% Digital Transaction based. The below issue is reported by quite few users while downloading BB-Instant App QUOTE Customer feedback:: my problem still not solved, I have tried to solve my error message while login (maximum account limit reached for this number) problem but you people cannot fix it infact you are saying to change my mobile number, you think for your stupid error I'm going to change my number. Standard BB-Instant Customer Team Response: Bigbasket.com2 July 2019 We are very sorry to have you disappointed, kindly share us your details at appsupport@bi
Read more