File RTI for Digital Payment Online

Gram Panchayat Third Party Service Tender Details Road Work Insurance details Illegal Construction Electricity RTI Land Records FIR Status Property Details Other Rti First Appeal Anonymous RTI

Electronic payment is a transaction that occurs through a digital or online channel without the exchange of physical currency. Payment may be made by either party, the payer or the payee, using electronic mediums. 

In order to promote and encourage digital payments in India, the Government has undertaken several initiatives.

In its 'Digital India' campaign, the government aims to create a cashless, paperless, and faceless economy. Payments can be made digitally in a variety of ways.

*99# Service- Its *99# service, which uses the Unstructured Supplementary Service Data (USSD) channel, is one of the innovative payment services launched by the NPCI. Through this service, the underbanked business will benefit from the financial depth and inclusion of mainstream banking services as a result of the potential of mobile banking.

• This service is available to banking customers through the dialing of *99#, a number that is shared by all TSPs. The transaction through this menu is displayed on the mobile phone screen.
• Other services available under the *99# service include interbank funds transfers, balance inquiries, and mini bank statements. A range of different Indian languages, including Hindi and English.

e-RUPI- By definition, e-RUPI is a digital voucher that is sent to a beneficiary via SMS or QR code.  This is a pre-paid voucher that can be redeemed at any center that accepts it.

• The e-RUPI voucher can be redeemed at the merchants accepting e-RUPI without having to use a card, digital payment app, or internet banking. 
• The details of the beneficiaries being completely confidential, this contactless e-RUPI is extremely safe, simple, and secure. Due to the fact that the required amount is already stored in the voucher, the entire transaction process through this voucher is relatively faster and more reliable.
• There is no need to confuse e-RUPI with Digital Currency that the Reserve Bank of India is contemplating.  It is instead a digital voucher that is person-specific, even purpose-specific.

e-Wallet- eWallet  An electronic wallet is known as an e-wallet. Using a computer or a smartphone, customers can conduct transactions online with this type of card. E-wallets work the same way as credit or debit cards. In order to use an e-wallet to make payments, the individual must link their bank account. Paperless money transactions are the main objective of e-Wallets.

FASTag

With FASTag you can bypass the toll without stopping for a cash transaction. The tag is simple to use, reloadable and enables automatic deduction of toll charges. FASTags are linked to prepaid accounts where tolls are deducted. When the tag account is active, the tag is affixed to the windscreen using Radio-Frequency Identification (RFID).

FASTag makes traveling on national highways hassle-free. There are 180 FASTag toll plazas already operational on the nation's and state's highways.

RuPay- As part of its card scheme, NPCI operates under the RuPay brand. ICICI Bank, HDFC Bank, Citibank, and HSBC are currently the ten core promoter banks of the company (State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, and Citibank).

NPCI envisions providing citizens of the country with secure, simple, easy-to-use, safe, fast, and cost-effective payment services anytime, anywhere. As an organization, NPCI aims to benefit its members as well as the general public.

Immediate Payment Service (IMPS)- India's Real-Time Remittance Service (IMPS) allows remittances to be made anytime and anywhere in the country. Customers using IMPS can send money to any person or merchant, either personally or commercially, in real-time.

Unified Payments Interface (UPI)- Using UPI, you can easily transfer money between two parties by combining multiple bank accounts in one app. With UPI, banks have a better understanding of and standardize the process than with NEFT, RTGS, and IMPS. A wire transfer can be initiated using UPI from anywhere with just a few clicks.

With UPI, you don't have to type in your card or bank details to make a payment; the money’s taken straight from your bank account.

Micro ATMs- In terms of banking services, Micro ATMs enable Business Correspondents (BCs) to provide key services to their customers. They will serve as a kind of micro ATM for instant transactions, even if they are local store owners. Your fingerprint will be used to authenticate your transfer of money from your Aadhaar-linked bank account.

For their customers, Business Correspondents will function as banks. To verify authenticity, customers must use their UID (Aadhaar). Micro ATMs will be able to support withdrawals, deposits, money transfers, and balance inquiries. Only your bank account needs to be linked to your Aadhaar for Micro ATMs.

Comments

Your Email address will not be published

Your Name

Email address

Write Message

Post Comment