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Digital Banking Digital Banking NIC Osmanabad Problems in traditional payment system • Lack of convenience • Lack of security • Lack of coverage • Lack of eligibility • Lack of support for micro transactions Modes of Digital Payments #Modes Of Digital Payments 1 Debit and Credit Cards States / UTs being one of the 2 Internet Banking(NEFT/ RTGS/ IMPS) major stake- holder can 3 Mobile Banking contribute in large volume in terms of doing digital payment 4 UPI (Unified Payment Interface- including BHIM) transactions. Special emphasis 5 AEPS (Aadhaar Enabled Payment System) should be laid for promotion 6 USSD (*99#) (Unstructured Supplementary Service Data) of digital transaction using 7 Mobile Wallet • BharatQR code and 8 PoS(Point Of Sale) • BHIM Ecosystem 3 PAYMENT CARDS • CREDIT CARDS • DEBIT CARDS • CHARGE CARDS • SMART CARDS CREDIT CARDS • Two of credit cards on the market. • Credit cards issued by credit companies(e.g. Master card, visa) and major banks (SBI, HDFC etc.). • Credit cards issed by the departmental stores(e.g. Boygner) , oil companies(e.g. Shell). DEBIT CARDS • Plastic card with a unique number. • Requires a bank account. • No interest charges related to this card. • Cards are provided by banks to account holders and are the most used digital payment modes till date • Credit cards, debit cards and prepaid cards are the main types of cards. Customers can also use RuPay debit card for digital payments Internet Banking(NEFT/ RTGS/ IMPS) • Any Nationalize or Schedule Bank Provied Internet Banking Service to Customer. • NEFT(National Electronic Funds Transfer) • RTGS(Real Time Gross Settlement) • IMPS ((Immediate Payment Service) • Quick Fund Transfer • Add Benificary to Transfer the Money • Recharge of(Mobile,BSNL,MSEB etc) Mobile Banking • Bank Provides Mobile Banking Facility to Customers. • Facilites:- - Ticket Booking - Railway /AIR/Theater - Billing - BSNL Bill, Mobile, MSEB, Mobile, TV, Purchasing Online Product etc. - Money Transfer • Various Mobile App Available for Mobile Banking SBI-ANYWhere. UPI (Unified Payment Interface) • Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties' bank accounts. • Customers need to download mobile app and create a virtual payment address (VPA) • Customers can collect money using mobile number or virtual payment address • Service available are: send money, receive money, scan and pay, approve/reject the collect request, generate static and dynamic QR code, log a complaint, manage profile and bank account UNIFIED PAYMENTS INTERFACE (UPI) The Future of Payments • UPI is a system for instant, electronic payments through user’s smart phone. • It is an advanced version of Immediate Payment Service (IMPS) which was used to transfer money between bank accounts. Like IM • It authenticates the identity of the user like a debit card does using the phone as a tool instead of a separate card. • It works 24x7, 365 days. BHIM APP • Bharat Interface for Money (BHIM) and UPI • BHIM - simple, easy and quick payment transactions with mobile phone • BHIM - Its built on UPI platform. • - Other Apps on UPI platform are Bank Apps, PhonePe, Google Tez AEPS (Aadhaar Enabled Payment System) AEPS (Aadhaar Enabled Payment System) • Facilitating Aadhaar number based banking transactions • Inputs required – Aadhaar number, biometric and bank name • Customers do not need to carry mobile phone or card, or do not need to remember any password to transact. It uses customers’ fingerprint as mode of authentication. AADHAR Enabled Payment System • AADHAR Enabled Payment System is a payment service empowering a bank customer to use AADHAR as his/her identity to access his • 367 Mn. Aadhaar mapped in NPCI’s Aadhaar Mapper. • It allows bank-to-bank transaction at PoS (MicroATM) with the help of Banking Correspondent (BC)/Village Level Entrepreneur (VLE • The user has to seed his/her account with their AADHAR number at bank or with the help of BC/VLE. • User can do as many transactions at any AEPS point without any PIN or password. AADHAR Enabled Payment System • Linking of Bank Account: Type *99*99# from your Mobile. It will ask for Aadhaar Number, enter Aadhaar No and press OK and then press 1. You will get B • Needed: IIN (Identifying the Bank to which the customer is associated) AADHAAR Number Fingerprint captured during their enrolment • Services: Balance Enquiry Cash Withdrawal or Deposit Purchase at Fair Price Shop Transfer of Funds to/ from another AADHAR Account USSD • USSD Banking or *99# Banking • Customer do not need to have a smartphone or internet connection to use USSD banking • It can be accessed with any normal feature phone • It is accessible through a common code *99# • It uses customers’ registered mobile number to connect with bank account Unstructured Supplementary Service Data • Needed: Bank Account Any Mobile Phone on GSM Network Registering mobile phone number against account with the Bank • How to get it Visit Bank Branch to link Mobile Number with Bank Account – by done on-line Get MPIN (Mobile PIN) & MMID (Mobile Money Identifier) Remember the above … MPIN & MMID Unstructured Supplementary Service Data Unstructured Supplementary Service Data OTHER SERVICES BALANCE ENQUIRY of Bank Account linked with Mobile Number MINI STATEMENT of above Account KNOW MMID – User can know the Mobile Money Identifier (MMID) allotted by Bank to Account during the mobile banking registration GENERATE / CHANGE MPIN E-Wallet Payments Wallet • Digital versions of traditional wallets that someone would carry in their pockets. • Offer payment services through which individuals/business can receive/send money via mobile devices. • They can hold digital information about Credit and debit cards with which it can be linked for making payment. • Store coupons and loyalty programs, pecific information about personal identity and more. e-WALLET • Needed: BANK ACCOUNT SMART PHONE 2G / 3G / 4G CONNECTION E-WALLET APP • ALSO: Need to register Mobile No. with Bank for SMS on transactions Never share PIN Use at trusted Merchants only USING E-WALLET 1. Choose the wallet services available in the market. 2. Download the application of wallet as chosen. 3. Complete the Registration process by providing details like Name, e-Mail ID, Mobile No. 4. Mobile No. verification code is sent by the wallet company to verify the mobile no. 5. Input the verification code during the registration process as requested by application. 6. Payment wallet is created and can be used once loaded with some amount for its use for shopping. 7. Payment wallet can be loaded using Credit Card, Debit Card, Net Banking, ATM Card & IMPS. 8. Once Payment wallet is loaded, it can be used for Fund Transfer, Shopping and other transactions. PoS(Point Of Sale) Pos Innovative Digital Payments Platforms . BHIM Unified Payments Interface (UPI) (Launched in Aug 2016) . AadhaarBHIM USSD Enabled (Launched Payment in Dec System 2016) (Launched in 2013) . BHIM Aadhaar for Merchants (Launched on 14th April 2017) New payment . Low-cost interoperable acceptance mechanism modes (Launched in Feb 2017) launched to cater to . 346 Toll Plazas as of Oct 2017 varying . Bharat Bill Payment System for Utility bill payment needs Payments ( Launched in Sep 2016) . 66 Non bank Pre Paid Instrument Providers Wallets licensed by RBI Other . National Common Mobility Card- Standards Key finalized Product 4Ps of Digital Payments • Price Place - Cost to Merchant : Merchant Discount Rate (MDR), PoS , Gateway Integration • Over the Counter (OTC) : PoS, Cost BharatQR, Wallet QR - Cost to Bank : Switching Fee and • Online: eCommerce and Bank portal Interchange Fee - Cost to Customer: Convenience Fee ( • Mobile App: Wallet, Mobile apps few) and transaction charges ( IMPS, Including BHIM NEFT and RTGS) • Micro ATM: AePS/BHIM Aadhaar Product Promotion - Web Based : NEFT, IMPS, NEFT and • Card Scheme Owner Schemes: RTGS VISA/MC/ AmEx/RuPay - Card Based : Credit and Debit Card • Bank Scheme: Card Specific - Smart Phone: UPI, Wallet, BharatQR Schemes • PPI: Cashbacks/ discounts - Feature Phone: USSD • BHIM Schemes: BHIM merchants - With Aadhaar: AePS, BHIM Aadhaar and BHIM Individuals - Business Transactions : NACH, ECS Benefits of Digital Payments Convenience of use Anytime, Anywhere, Any mode Secure transactions Facilitate financial inclusion Incentive, cashback, offers and promotional schemes on digital payments No fear of losing cash or getting fake currency No need to handle cash 39 Videos • Video For First time Login • Video For Top up and Recharge Thank You.
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