innovationinbanking

  Commercial Credit Cards are cards designed for exclusive usage by business establishments. The market for Commercial Credit Cards is on the increase, with the new age fintech players tying up with issuing banks for issuance of the same. Commercial Credit Cards are designed for adoption by mom n pop stores, small supermarkets, etc and can be customized to a great extent. As a #friendof BBPS , the more commercial credit cards become popular, the more the same will be used for BBPS transactions. This is turn will increase the Average BBPS transaction amount, which is around INR1,900/- now. Three features to boost Commercial Credit Cards Feature 01) Google pay NFC based feature. Tokenisation of credit cards issued by banks. Fintech companies can look at an API between Google Pay and their partner banks for tokenization from Day 1. Feature 02) BBPS (Bharat Bill Payment System) on Commercial Credit Cards issuing banks Mobile Banking/Net Banking Portal. This will enable the cre

              The range of Biller Categories on BBPS is on the increase. Recently BBPS added Hospital as a new biller category. B.K.Arogyam and Research Pvt. Ltd is the first hospital to onboard   BBPS as a biller.             Visitors converted as Patients at Hospitals need to pay service charges for their treatment. The range of service charges and the actual amount for each service varies from hospital to hospital. In most of the hospitals, the service charges are collected via Cash or POS machines. A few major government hospitals also collect the services charges via eWallets or PayGov portal. However, B.K.Arogyam and Research Pvt. Ltd decided to take a bit different route to enable its patients to pay the service charges. It choose BBPS as an additional payment channel for its patients. B.K. Arogyam & Research is an Ayurveda clinic in Sigra, Varanasi. BK Arogyam centre i established 38 years ago in 1979, at Varanasi India by the Ayurvedic Specialist Vaidya Mr N

  The butter of the Indian Railways is the freight traffic. For the Financial year 2020-21, Freight earnings till February 2020 stood at Rs 119,216.11 crore (US$ 17.06 billion). Revenue growth has been strong over the years. Indian Railways’ gross revenue stood at Rs 183,092.74 crore (US$ 26.20 billion) in FY20 (till February 2020). Passenger earnings for Indian Railways was estimated at 51,077.73 crore (US$ 7.31 billion) in FY20 (till February 2020). Freight remains the major revenue earning segment for Railways, accounting for 65.1 per cent of its total revenue in FY20 (till February 2020), followed by the passenger segment. This means Indian Railways collects more than 1,20,000 crores through its Freight Operations Information System (FOIS). Computerisation of the Freight Operations Information System: The FOIS enables management and control of freight movement, optimised asset utilisation and the generation of invoices. Many of IR's larger freight customers pay th

  Lead Resource Article for this Blog Post: [Product Roadmap] How B2B marketplace Jumbotail has been able to maintain scale amid the coronavirus crisis Read more at  https://yourstory.com/2020/05/product-roadmap-b2b-marketplace-jumbotail-scale-coronavirus Jumbotail is emerging as a major player in the B2B arena. Q) Why Jumbotail as a BBPS Biller? Ans: Jumbotail services 26,000 + Kirana Stores across Bengaluru. These kirana stores need to pay to Jumbotail for the goods received by them. Jumbotail has its own PG for it’s kirana store customers, however BBPS will increase the acceptance network. Invoice Financing once the bills are paid via BBPS will be more convenient.   Q) Why Jumbotail as a BBPS Agent Institution? Ans) Simple, Jumbotail caters to 26,000 and growing Kirana Stores across Bengaluru. Customers of these kirana stores also need to pay their utility bills, other bills under various BBPS Biller Categories. As these customers shop for their daily needs, they

  Disclaimer: I have no interests in MyGate or BBPS . I just believe in the power of BBPS to transform the Billing landscape in India. There is infinite scope for a National Billing Application in India. The surface is not even scratched. Let 85% of Bill Payments happen via BBPS. Q: What is MyGate? Ans: Quote MyGate is a mobile-based intelligent security application to enhance the safety of gated communities. The product is designed and executed by founders with experience in Armed Forces, NSG/SPG and technology experts from Google and Oracle. MyGate will augment existing security in an intelligent and non-intrusive manner. Maintenance payments - Your residents will appreciate our low payment charges and the multitude of payment options. Any credit or debit card, netbanking, UPI and even a few wallets are accepted. Expect payment collection to be quicker and smoother. Unquote Q: What is BBPS ? Ans: BBPS (Bharat Bill Payment System) is an integrated bill payment syst

              India has over 2,48,000+ ATMs spread all over India. All these ATMs are linked together by NPCI’s National Financial Switch (NFS).             These ATMs talk to the account holders' bank accounts via the NFS. Of course, each bank will have its own ATM Switch. Quote from RBI FAQs 5. What are the services / facilities available at ATMs / WLAs?   Ans. In addition to dispensing cash, ATMs / WLAs may offer many other services / facilities to customers. Some of such services include: ·          Account Information ·          Cash Deposit ·          Regular Bill Payment ·          Purchase of Re-load Vouchers for Mobiles (not permitted at WLAs) ·          Mini / Short Statement Generation ·          PIN Change ·          Request for Cheque Book Unquote               The key word in the FAQs is ‘MAY OFFER’. Though ‘regular bill payment’, is mentioned in the FAQs, no bank has yet integrated BBPS into their ATM service channel.             Few

            Delhi Metro is leasing out kiosks for 64 ATMs to be set up across Delhi Metro stations. These ATMs can be used by Delhi Metro users to fulfill their banking needs.             The Lease Holders have to pay to DMRC Lease Rent/Space Rent as per the terms and conditions of the Lease Agreement.             The Lease Holders can pay the lease rent via RTGS/NEFT/ECS and inform the payment particulars to the DMRC Property Business Team.             DMRC Accounts section will reconcile the payments received in their bank accounts with the details submitted by the lease holders.             This is too cumbersome, and it would reduce the recon process, if DMRC onboards BBPS (Bharat Bill Payment System)  to receive its lease rentals.             The process is simple, and a sample process flow is as under a)      DMRC assigns a unique Identification Number for each leased property. b)      This Unique Identification Number is uploaded in the BBPS Billing Module c)  

As a Netflix member, you are charged once a month on the date you signed up. Simple, you are charged with the chosen payment method. Netflix subscribes have several payment options: - Local Credit and Debit Cards Netflix accepts the following locally issued cards (requires secondary authentication), which must be enabled for recurring e-commerce transactions. NOTE: You may need to enable your card for international transactions. International cards are only accepted for members currently paying with an international card. Visa MasterCard American Express Diners Virtual Cards Netflix accepts virtual cards in select markets. If your virtual card is declined, please choose a different payment method. Prepaid Cards Netflix accepts prepaid cards with the following logos. Visa MasterCard American Express Third-party Billing The following partners allow you to add your Netflix subscription to their bill. ACT Airtel Vodafone However , BBPS is n