innovationinbanking

  UPI to cross 4 – 4.2 Billion Transactions in October 2021               Safe ePayments fans be ready for 4 – 4.2 Billion UPI Transactions in October 2021.             Get ready to celebrate another milestone in UPI Transactions.             The logic is simple, as under:             

  ICICI Bank – Please activate Contactless Payment Solutions for all cards through iMobile Pay               ICICI Bank vide Press Release dt. October 6, 2021 informed to its customers that it is enabling ‘contactless payment solutions’, on iMobile Pay             This is a 3-way partnership between ICICI Bank, Visa and Comviva             The minimum requirements for customers to avail this facility is: - 01) iMobile Login ID 02) ICICI Bank Credit Card 03) ICICI Bank Debit Card 04) NFC enabled smartphone 05) OS – Android 6 and above Once customers register their credit/debit cards on iMobile App, they can start using this facility at all NFC enables POS Terminals             Customers wishing to pay, have to open the iMobile App, choose from the stored credit / debit card and complete the transaction.             Depending on the transaction amount, the payment will be complete Contactless or Contactless + Pin.               ICICI Bank – It is time to

  PostPe – Looking forward to these SEVEN Features PostPe is the latest entrant in India's BNPL scene. PostPe is the customer facing app of BharaPe. As this is the standard procedure, cusotmer onbarding is completely digital assisted by Aadhaar. Once the risk acceptance is done by PostPe , based on customers inputs, the limits are created and the borrower can start using the funds. In case, the borrower desires to transact with a phsycial card, he/she can order for a phyiscal card. To increase the usage of my PostPe limit, I am looking for these seven features. In case you have some more wishes, please drop a mail @ PostPe team may be interested to make it live, very soon. Seven Features:- F1 - Upfront Declaration that phone number is required for non-bharatpe merchants Why 1) As of now, this is still in beta stage, and direct payment is allowed only for merchants having BharatPe QR Codes. Merchants phone number has to be keyed in for payments to other QR

  NPCI – Goodbye Magnetic Stripe ATM / POS Cards             The demise of Magnetic Stripe ATM / POS Cards in India is around the corner.           The short name for of Magnetic Stripe is Magstripe card. A magstripe card gets its name from the magnetic stripe across the back of the card. This “stripe” is encoded with sensitive payment card data such as the full PAN (personal account number), expiration date, and account holder name among other things.           The increasing number of frauds via Magstripe ATM/POS cards necessitated the need for safe alternate solutions.           One of the alternate solutions, is the EMV Card.   An EMV card contains a computer microchip that stores payment card data. The chip also produces a unique, one-time-use cryptogram for each transaction to make it more secure than a magstripe card. The chip on an EMV card is capable of much more sophisticated authentication than magnetic-stripe cards. In other words, there is a fully operating c

  Suryoday Bank debuts NIL Own ATMs Visitors arriving at the Suryoday Bank Web page are greeted with the following scrolling message. The message is for Account Holders of Suryoday Bank. Quote Due to operational reasons Suryoday Bank ATMs will be discontinued w.e.f. 1st Oct 2021. However, you can continue to use your Suryoday Bank ATM/Debit Card at any other Bank’s ATM for your cash withdrawal requirements. For other banking services you can use our Internet Banking and Mobile Banking (24*7). Stay Safe, Stay Alert – Suryoday Small Finance Bank Ltd.       UnQuote Suryoday started its journey in 2008 as a microfinance institution and transformed into a small finance bank in January 2017.   To minimise inconvenience to its customers, the bank is planning to formulate a strategy where it would offer its customers five to seven free transactions per month when they use the ATM network of other banks to withdraw cash. As of June 30, 2021, the SFB had a total of 555 bankin