Digital Payment &

Transactions,
A road to cashless Culture

Presented By:
Capt. Amit Kumar
Pilot / Consultant for Aviation, IT and Telecom domain.
Some thing about Financial system

Every country has a financial system of its own that serves as backbone of its entire
development. A financial system is a set of institutional arrangements through which
financial surplus in the economy is mobilized from surplus units and transferred to
deficit spenders. The financial system of any country consists of banking and non
banking financial institutes, these institutes are providing various types of financial
services to the customers. In the financial services, financial clearing and fund
transfer service is most important service than other services. Payment systems
improve financial intelligibility, stimulating business growth and consumption .The
success of the banking system has depends upon the efficient and quality of clearing
system of the industry. If we overlook the worldwide this system has changing
drastically with technological advancements. Last few years evident that, Information
and Communication Technology (ICT) have become a mean for improvement of
financial system worldwide. In India, most of banks and financial institutions are
offering ICT based financial products and services to improve their business efficiency
and speed of services e.g. called e-banking, internet banking, electronic fund transfer,
electronic clearing, mobile banking etc.
Payment system

Payments are an indispensable part of our daily transactions, be it a consumer to a

business, a business to a consumer or a business to a business. Payments raise the
GDP of a country thus it is mandatory that the payment systems of the country are
safe, secure, sound, efficient, accessible and authorize, as states the mission
statement of the Reserve Bank of Indias publication on Payment Systems in India
(200912). The Reserve Bank of India continually strives towards ensuring the smooth
progress of the payments system. Payment systems in any country are the most
essential part of the economic system of that country. Efficiency in these is required to
guarantee the timely completion of all transactions. As the payment system is one of
the most important components of the financial system, innovative ways of making
payments which are less hassle some are being focused upon. The BPSS is trying to
effect a change in the mode of payments in India, from paper to electronic. Since
electronic means are both safer and more
efficient efforts are continuously being made to change the mind set of people and
make them shift to electronic-payments. An efficient payment system forms the
backbone of economic wellbeing of a nation.
Some History of Payment System in India

Payment instruments and mechanisms have a very long history in India. The earliest
payment instruments known to have been used in India were coins, which were either
in gold, silver and copper. In the Mughal period, Indian has starting use of bills of
exchange in the commercial centres. In the Muslim period traders' were use Pay
orders it was issued from the Royal Treasury on one of the District or Provincial
treasuries. They were called Barattes and were akin to present day drafts or cheques.
In the in the twelfth century one of the most important financial instrument were
evolved that is Hundi it has continued till today. Till 1835 there were variety of
currency systems and coinage in India, but in 1835, the East India Company
introduced the Company's Rupee to bring about uniformity of coinage over British
India. A paper currency system were implemented in 18th century, earliest issues of
paper currency were issued by the Bank of Hindustan, then after issued by the
General Bank in Bengal and Bihar, the Bengal Bank and three Presidency Banks. The
Paper Currency Act of 1861 conferred the monopoly of the Government of India and
presidency banks working in India. After the establishment of the RBI all rights of
currency system has given to the RBI in India.
Some History of Payment System in India

Payment instruments and mechanisms have a very long history in India. The earliest
payment instruments known to have been used in India were coins, which were either
in gold, silver and copper. In the Mughal period, Indian has starting use of bills of
exchange in the commercial centres. In the Muslim period traders' were use Pay
orders it was issued from the Royal Treasury on one of the District or Provincial
treasuries. They were called Barattes and were akin to present day drafts or cheques.
In the in the twelfth century one of the most important financial instrument were
evolved that is Hundi it has continued till today. Till 1835 there were variety of
currency systems and coinage in India, but in 1835, the East India Company
introduced the Company's Rupee to bring about uniformity of coinage over British
India. A paper currency system were implemented in 18th century, earliest issues of
paper currency were issued by the Bank of Hindustan, then after issued by the
General Bank in Bengal and Bihar, the Bengal Bank and three Presidency Banks. The
Paper Currency Act of 1861 conferred the monopoly of the Government of India and
presidency banks working in India. After the establishment of the RBI all rights of
currency system has given to the RBI in India.
Modern Payment System in India

The Reserve Bank of India (RBI) has played a significant role in developing the
payment and settlement systems in the nation from its establishment. The emergence
of e-commerce has created new financial requirements that in many cases cannot be
effectively fulfilled by the traditional payment systems. To recognizing these needs
the RBI has implemented bank computerisation project in India and providing ICT
based networking facilities to the banks and financial institutions in India. Since 1991
the RBI has started 'BANKNET' it is network for banking institutes other than Banknet
The 'INFINET' - Indian Financial Network is a satellite based wide area network using
VSAT (Very Small Aperture Terminal) technology set up in June 1999. The Centralised
Funds Management System (CFMS) facilitates centralised balance viewing of and
funds transfer between own accounts of a member bank maintained with the Bank at
different locations. In Indian banking system ATM also providing better alternative to
traditional payment system it can be used for payment of utility bills, funds transfer
between accounts, deposit of cheques and cash into accounts, balance enquiry and
several other banking transactions. Apart from these facilities RBI has enhancing the
payment system by introducing MICR technology, ECS, EFT, NEFT, Card Based
Clearing and RTGS etc.
Role of the Government / RBI in Encouraging E-Payments in
India
RBI has taken several initiatives to strengthen the e-payments system in India and
encourage people to adopt it
The Payment and Settlement Systems Act, 2007 was a major step in this direction. It
enables the RBI to regulate, supervise and lay down policies involving payment and
settlement space in India. Apart from some basic instructions to banks as to the
personal and confidential nature of customer payments, supervising the timely payment
and settlement of all transactions, the RBI has actively encouraged all banks and
consumers to embrace e-payments.
RBI has also granted NBFCs (Non-Banking Financial Companies) the permission to issue
co branded credit cards forming partnerships with commercial banks
The Kisan Credit Card Scheme was launched by NABARD in order to meet the credit
needs of farmers, so that they can be free of paper money hassles and use only plastic
money.
A domestic card scheme known as Rupay has recently been started by the National
Payments Corporation of India (NPCI),promoted by RBI and Indian Banks Association
(IBA), inspired by Union pay in China, which will be promoting the use of cards i.e.
plastic money. Initially functioning as an NPO, Rupay will focus on potential customers
from rural and semi-urban areas of India. Rupay will have a much wider coverage than
Visa, MasterCard or American Express cards which have always been used for card-
based settlements
Coverage of E-Payments /cashless transactions in India

Today in India e-payments culture even though there are many

effective electronic payment channels and systems in place is
not the first choice of common people. Despite the
infrastructure being there nearly 63% of all payments are still
made in cash. A relatively small percentage of the population
pays their bills electronically and most of that population is from
urban India-the metropolitans. Also in some cases the
transaction is done partially online and partially offline. The
main reason for this apathy switch to e-payments comes from
lack of awareness of the customer despite various efforts by the
Government.
Some of the methods of E-Payments in India

MICR Clearing :

Traditional cheque clearing process is time consuming and lengthy it affects value of
transaction of settlement. To enhance speed of cheque clearing the RBI has started
MICR cheque and MICR clearing system. Magnetic Ink Character Recognition (MICR) is a
character recognition technology adopted mainly by the banking industry to facilitate
the faster processing of cheque is called MICR clearing system. There are 64 MICR
clearing centers are operated in India in 15 divisions in India. MICR technology
transformed cheque processing systems by enabling the introduction of automated
clearing houses. The system is well stabilized in India with the overall reject rates of
around 1% while international reject rates are around 2%. Cheque clearing accounts for
over 95% of the retail payment and more than 70% of cheque clearing is based on
MICR technology
Some of the methods of E-Payments in India

Electronic Clearing System :

Electronic Clearing System (ECS) is a retail payment system which facilitates bulk
payments,
that facilitate payments from one-to-many and receipts that are from many-to-one. ECS
Scheme operated by the RBI since 1996-97, helps to make payment from a single
account at a bank branch to any number of accounts maintained with the branches of
the same or other banks. ECS (Credit) also known as Credit Push facility facilitates the
bulk payments whereby the account of the institution remitting the payment is debited
and the payments remitted to beneficiaries accounts. This facility is now available at
67 major centres in the country. ECS (Debit) also known as Debit Pull facility facilitates
the collection of payments by utility companies. In this system the account of the
customers of the utility company, in different banks are debited and the amounts are
transferred to the account of the company. Amount of ECS based credit is increased
from Rs.98 million to Rs.121.5 million in 2009-10 to 2011-12 and ECS based Debit
transaction has been increased from Rs. 149.3 million to Rs.164.7 million in 2009-10 to
2011-12.
Some of the methods of E-Payments in India

Electronic Fund Transfer (EFT & NEFT) :

EFT System hosted and operated by the RBI, permits transfer of funds, upto Rs. 5 lakh
from any account at any branch of any member bank in any city to any other account
at any branch of any member bank in any other city. This system utilizes the Service
Branches of the member banks and the nodal offices of RBI. The Reserve Bank of India
acts as the service provider as well as regulator. The NEFT was introduced in 2005.
Since its inception the coverage of NEFT has increased. It is called Special Electronic
Fund Transfer (SEFT) also. It is covering about 30,000 branches in 500 cities. This has
facilitated same day transfer of funds across accounts of constituents at all these
branches. Overall EFT and NEFT based clearing grow from Rs. 66.3 million to Rs. 226.1
million in the year 2009-10 to 2011-12
Some of the methods of E-Payments in India

Real Time Gross Settlement System (RTGS) :

RTGS is system for large value clearing operated since 2003; the minimum amount to
be
remitted through RTGS is Rs.1 lakh. There is no upper ceiling for RTGS transactions. It
provides
facilitates to settlement of transactions on a gross basis. This system ensures
settlement of payments with no credit risk involved. It is therefore, essentially a system
for settlement of large value and time critical payments. The system facilitates Inter-
bank as well as customer payments. In India all bank branches are not RTGS enabled
because only core banking (CBS) enabled bank branches can extend this facility. As on
January 31st, 2009 more than 57000 bank branches were enabled for RTGS system. In
year 2009-10 to 2011-12 transactions related customers remittances have raised from
Rs. 33.2 million to Rs. 55 million.
Some of the methods of E-Payments in India

On line Tax Accounting System (OLTAS)

A measure aimed at providing better facilities for the government tax collection and for
tax payers was the introduction of the On line Tax Accounting System (OLTAS) with a
network of various banks authorized for collection of tax receipts. The Reserve Bank
and the Tax Information Repository at the National Securities Depository Ltd. (NSDL)
are also part of the OLTAS. Data is captured from the channels submitted by tax payers
tendered at the designated bank branches and transmitted electronically to the
repository. The collection and transmission of data on tax collection have thus been
made efficient on a T+1 cycle basis. The OLTAS works in a fully secured environment ,
with data being transmitted using encryption facilities and digital signatures for
enhanced security. The system, in live operations from July 1, 2004 is performing well.
Under the OLTAS 15 offices of the Reserve Bank, and 11699 authorised branches of 31
agency banks transmitted daily data on income/corporate tax collected by them to the
tax information network (TIN) hosted by NSDL. The income tax challan form has also
been simplified and made into a single copy challan.
Some of the methods of E-Payments in India

Card Based Clearing (CBC)

Credit and Debit cards have been in use in the country for many years now. In India
card fashion increasing day by day due to its convenience and utility. Many banks have
providing customised credit and debit cards to increase their business in India. However
the card base as well as the usage has picked up during the last five years drastically.
In the year 2009 to 2012 credit card based transaction are increased from Rs. 234.2
million to Rs. 320 million and debit card based transactions are increased from Rs.
170.2 million to Rs. 327.5 million.
Some of the methods of E-Payments in India
POS :
Types of POS

Physical POS
Physical Card Swiping PTSN with landline / GPRS enabled

MPOS
Phone connected with external POS device through jack / Bluetooth

V-POS
Virtual E-payment Gateway
Physical POS
STEP 1: SWIPE A DEBIT/CREDIT CARD ON
THE POS MACHINE

STEP 2: ENTER AMOUNT TO BE PAID AND PIN

STEP 3: GENERATE RECEIPT
Physical POS
STEP 1: SWIPE A DEBIT/CREDIT CARD ON
THE POS MACHINE

STEP 2: ENTER AMOUNT TO BE PAID AND PIN

STEP 3: GENERATE RECEIPT
Mobile POS

Note: mSwipe is used as an example of MPOS here

Virtual-POS
NO MACHINE REQUIRED
CUSTOMERS CAN SCAN QR CODE OF THE MERCHANT FOR INSTANT
PAYMENT
Installation of POS Terminal
OPEN / IDENTIFY CURRENT ACCOUNT FOR TRANSACTIONS
FILL IN THE APPLICATION FORM (ONLINE / AT THE
BRANCH)
IDENTIFY TYPE OF POS REQUIRED (LANDLINE / GPRS)
SUBMIT FOLLOWING DOCUMENTS:
Proof of business
Shop & establishment registration certificate
VAT certificate
Sales tax..
Proof of address
Photo identity proof of proprietor / partner
Financial details
Bank statement
Income tax return
ACCEPTANCE OF MDR BY MERCHANT
EXECUTION OF MERCHANT ESTABLISHMENT
AGREEMENT
Some of the methods of E-Payments in India

New USSD features

Using account number instead of MMID

Can work with only Aadhaar number also
Some of the methods of E-Payments in India

Unified Payment Interface (UPI)

Requirements for registration on UPI

REQUIREMENTS
Smartphone with internet facility
Bank Account details (only for registration)

AVAILABLE APPS
SBI app, PNB UPI, UPI Collect (ICICI), Axis Pay, Canara Bank UPI, UCO
UPI, Union Bank UPI, OBC UPI and 20 other banks
3rd party apps Trupay, Phonepe, UPI pay, Mypoolin etc
Some of the methods of E-Payments in India

Unified Payment Interface (UPI)

UPI Registration Process

Choose your unique

Download any ID (Aadhar, Mobile
banks app or 3rd No.) as Virtual Select your bank
party app Payment Address
(VPA)

Set M-PIN for

Registration Give account details
validating
Completed for first time
transactions
Some of the methods of E-Payments in India
Unified Payment Interface (UPI)

Sample Screenshots
(PhonePe app)
Some of the methods of E-Payments in India
Unified Payment Interface (UPI)

Sending Money on UPI

Enter payees
Choose Send Virtual
Enter amount
Money Payment
Address

Confirm the Write remarks

Hit Send
details for transaction
Some of the methods of E-Payments in India
Unified Payment Interface (UPI)

Sending Money
Some of the methods of E-Payments in India
Unified Payment Interface (UPI)

Collecting Money (raise a demand) on UPI

Enter payers
Choose
Virtual
Collect Enter amount
Payment
Money
Address

Enter when do
Write remarks
Hit Confirm you want to
for transaction
collect
Some of the methods of E-Payments in India
Unified Payment Interface (UPI)

Collecting Money
Some of the methods of E-Payments in India

Digital Payment/ transaction Without Using Internet through Mobile

By
 *99# : Launch Story

Dedicated to the nation on 28th August, 2014 by Honorable PM of India

Service launched with 32 Banks & 11 Telecom Service Providers

Service formerly known as NUUP (now known as *99#)

English kept as the default language for this service

Launched with Financial & Non-Financial Services

 *99# : Features

Standardised Menu for Banks and Customers

Facilitates interoperable mobile banking transactions

Capability to reach 960 million mobile phone users

Works across all handsets & GSM service providers

Works on both Basic phones as well as Smartphones

Works without GPRS and service available while roaming as well

Multilingual options (Available in 12 languages including English & Hindi)

 *99# : Benefits

Simplicity User required to just dial a short code

Convenient Simple and easy to use service

Round the Clock Availability Works 24*7*365

Real Time Transaction Immediate in

nature

Language Flexibility Available in 12 languages

Easy Accessibility No internet connection required

 *99# : Ecosystem

TSP
Banks
Available across all
Services
11 Telecom Service 43 Banks part o
f Coverage
Providers (TSPs) n service Include 8 Services Offered
s
in the country
all 27 Public Sector Includes Bankin , in 12
g Available
Banks and & Non-banking and languages
leading Private Value Added including English &
Sector Banks Services Hindi
 *99# : Services Offered

Fund Transfer (Mobile No. & MMID)

Financial Transactions Fund Transfer (IFSC & Account No.)
Fund Transfer (Aadhaar)

Balance Enquiry
Mini Statement
Non-Financial Transactions Request MMID
MPIN (Generate & Change)
Generate OTP

Value Added Service Query Service on Aadhaar Mapper (*99*99#)

*99# : Transaction Flow for Non-Financial
Transactions

Telco Service Provider Telecom Gateway

NUUP Server

Bank CBS Bank Server

*99# : Transaction Flow for Financial
Transactions

Telco Service Telecom

NUUP Server
Provider Gateway

Bank Server

Banks IMPS
Beneficiary NPCI IMPS
Switch
Switch Switch
(as
Remitter)
 *99# : Balance Enquiry

Enter Your Option:

Welcome to NUUP
Please 1. Balance Enquiry
2. Mini Statement
Enter 3 Letters of your
Banks short name or 3. Fund Transfer - MMID
first 4. Fund Transfer - Account
4 Letters of your Banks No
IFSC 5. Fund Transfer - Aadhaar
6. Know MMID
*99#
-
SBI or
SBIN

Your available account

balance is Rs 5000.
 *99# : Mini Statement
Enter Your Option:
1. Balance Enquiry
Welcome to NUUP Please
2. Mini Statement
Enter 3 Letters of your 3. Fund Transfer - MMID
Banks 4. Fund Transfer - Account No
5. Fund Transfer - Aadhaar
short name or first 4
Letters of 6. Know MMID
7. Change M-PIN
your Banks IFSC 8. Generate OTP

*99# SBI or 2
SBIN

Date | Cr/Dr
|
Amount
01-02-14 CR
500
01-02-14 DR
500
01-02-14 CR
500
01-02-14 DR
 *99# : Know MMID

Enter Your Option:

Welcome to NUUP Please 1. Balance Enquiry
Enter 3 Letters of your 2. Mini Statement
Banks 3. Fund Transfer - MMID
short name or first 4 4. Fund Transfer -
Letters of Account
your Banks IFSC No
5. Fund Transfer -
*99# Aadhaar
6. Know MMID
SBIN
6

Your MMID allotted

for
the A/C No.
XXXXXX1234
is XXXXXXX
 *99# : Generate MPIN

Enter Your Option:

Welcome to NUUP Enter
3 Letters of your Banks
short name or first 4
Letters of your Banks
IFSC
*99# SBI or SBIN
1. Balance Enquiry
2. Mini Statement
3. Fund Transfer - MMID
4. Fund Transfer - Account No
5. Fund Transfer - Aadhaar
6. Know MMID
7. MPIN
7

Enter Your Option:

[Enter last 6 digits of your [Enter MPIN] [Reenter
card number] [Expiry MPIN] separated with 1. Generate MPIN
2. Change MPIN
date MMYY] separated single space
with single space 7

123456 0818 1111 1111 1

Your MPIN is
successfully
generated.
 *99# : Change MPIN
Welcome to NUUP Enter
3 Letters of your Banks
short name or first 4
Letters of your Banks
IFSC
Enter Your Option:
1. Balance Enquiry
2. Mini Statement
3. Fund Transfer - MMID
4. Fund Transfer - Account No
5. Fund Transfer - Aadhaar
6. Know MMID
7. Change M-PIN
8. Generate OTP

*99# SBI or SBIN 7

[Enter old M-PIN]

[Last 4-digits of
Re-enter new M-
Enter new M-PIN PIN account number]
4321 separated with single
space

4321
4321 1234 4567

M-PIN associated with

a/c no xxxxxxx4567
changed successfully.

*99# : Generate OTP
Enter Your Option:
Welcome to NUUP 1. Balance Enquiry
2. Mini Statement
Enter 3 Letters of
3. Fund Transfer -
your 4. Fund Transfer - Account No
MMID
Banks short name 5. Fund Transfer - Aadhaar
or 6. Know MMID
7. Change M-PIN
first 4 Letters of 8. Generate OTP
*99# your SBI or
Banks IFSCSBIN 8

Your OTP is Enter M-PIN] [Last 4-

123456. This is digits
of accountwith
separated number]
single
valid for one
space
transaction and
for
1 hour.

1234 4567
 *99# : Funds Transfer Using Mobile No.
and MMID
Enter Your Option:
1. Balance Enquiry
2. Mini Statement
3. Fund Transfer - MMID
4. Fund Transfer - Account No
Welcome to NUUP Enter 3 5. Fund Transfer - Aadhaar
Letters of your Banks short 6. Know MMID
7. Change M-PIN
name or first 4 Letters of
8. Generate OTP
your Banks IFSC

SBI or SBIN
3

Enter Amount & remarks

(optional) separated with
Enter Beneficiary Mobile No
single space
Enter Beneficiary MMID
AS [Amount] [Remarks]

500 rent 9240378 9933465782

Want to transfer Rs 500 to Your a/c no. xxxxxxx4567 is

beneficiary with Mobile debited for Rs. 500.00 on
9911330092 and MMID 9002567
16-02-2014 and a/c linked
For rent
[Enter Your M-Pin] [Last 4-digits to mobile 9911330092
of account number] separated credited (IMPS Ref no
with single space 212233445555)

1234 4567
 *99# : Funds Transfer Using Account No.
and IFSC
Enter Your Option:
1. Balance Enquiry
Welcome to NUUP Enter 3
2. Mini Statement
Letters of your Banks short 3. Fund Transfer - MMID
name or first 4 Letters of 4. Fund Transfer - Account No
your Banks IFSC 5. Fund Transfer - Aadhaar
6. Know MMID
7. Change M-PIN
8. Generate OTP
SBI or SBIN
*99# 4

Enter Amount & remarks

(optional) separated with
single space Enter Beneficiary Account
Enter Beneficiary IFSC
Number
AS [Amount] [Remarks]

500 rent 123456789023 SBIN000121

Want to transfer Rs 500 to

Your a/c no. xxxxxxx4567 is
beneficiary with IFSC SBIN000121
and Account 12345678912For rent
debited for Rs. 500.00 on
16-02-2014 and a/c
[Enter Your M-Pin] [Last 4-digits of 12345678912 credited
account number] separated with
(IMPS Ref no
single space
212233445555)
Ex: 1234 4567

1234 4567
*99T# : Fund Transfer using Aadhaar card

Welcome to NUUP Select Option:

1 BalanceInq
Please Enter First 4 Letters of IFS 2 Mini Stmt
Code of your Bank to begin. 3 Fund Transfer-MMID
For any query, contact your bank. 4 Fund Transfer-A/c No
Charges apply 5 Fund Transfer-Aadhaar
6 Know MMID
7 Change MPIN
8 Generate OTP
*99# 9 Agent Cash Out
SBIN 5

Rs 500 to bene with Aadhaar Enter Amount & remarks

Enter Beneficiary 12-digit Aadhaar
123456789012 rent (optional) separated with single
Number
space
[Enter Your M-Pin] [Last 4-digits of
Ex:123456789012
account number] separated with AS [Amount] [Remarks]
single space
Ex: 1234 4567

1567 7284 500 123456789012

rent

Your a/c no. xxxxxxx7284 is

debited for Rs. 500.00 on 16-02-
2014 and a/c linked to Aadhaar
123456789012 credited (IMPS Ref
no 212233445555)
 *99# : TSPs & Supported Languages

S. Languages Short
No. Codes
1 Englis *99
Airtel Vodafone Idea h #
2 Hind *99*22#
i
3 Marat *99*28#
hi
4 Gujara *99*27#
MTNL Aircel Tata ti
5 Tam *99*23#
il
6 Kannada *99*26#
7 Telug *99*24#
Reliance Uninor Videocon u
8 Punja *99*30#
bi
9 Benga *99*29#
li
1 Malayalam *99*25#
BSNL Quadrant 0
1
Assamese *99*31#
1
1 Oriy *99*32#
2 a
 *99# : Banks Short Code & IFSC
S. No. Bank Name Short Name IFSC
1 Allahabad Bank ALB ALLA
2 Andhra Bank ANB ANDB
3 Axis Bank AXB UTIB
4 Bank of Baroda BOB BARB
5 Bank of India BOI BKID
6 Bank of Maharashtra BOM MAHB
7 Canara Bank CNB CNRB
8 Central Bank of India CBI CBIN
9 Corporation Bank CRB CORP
10 Dena Bank DNB BKDN
11 HDFC Bank HDF HDFC
12 ICICI Bank ICI ICIC
13 IDBI Bank IDB IBKL
14 Indian Bank INB IDIB
15 Indian Overseas Bank IOB IOBA
16 ING Vysya Bank ING VYSA
17 Karur Vysya Bank KVB KVBL
18 Kotak Mahindra Bank KMB KKBK
19 Oriental Bank of Commerce OBC ORBC
20 Punjab and Sindh Bank PSB PSIB
21 Punjab National Bank PNB PUNB
 Continued
22 State Bank of Bikaner & Jaipur SBJ SBBJ
23 State Bank of Hyderabad SBH SBHY
24 State Bank of India SBI SBIN
25 State Bank of Mysore SBM SBMY
26 State Bank of Patiala SBP STBP
27 State Bank of Travancore SBT SBTR
28 Syndicate Bank SYB SYNB
29 UCO Bank UCO UCBA
30 Union Bank of India UOB UBIN
31 United Bank of India UBI UTBI
32 Vijaya Bank VJB VIJB
33 Ratnakar Bank RBL RATN
34 IndusInd Bank IIB INDB
35 Bhartiya Mahila Bank BMB BMBL
36 South Indian Bank SIB SIBL
37 Saraswat Co-op Bank SRC SRCB
38 Yes Bank YES YESB
39 NKGSB NKG NKGS
40 Janata Sahakari Bank JSB JSBP
41 DCB Bank DCB DCBL
42 Karnataka Bank KBL KARB
43 Apna Sahakari Bank APN ASBL
 *99# : Important Points to Remember

User to register mobile number with the bank

User to keep the beneficiary details handy

User to keep the last 4 digits of the remitter account no. & MPIN handy

User to use GSM phone & keypad to have special character like * & #

User to have sufficient mobile balance (applicable for prepaid connections)

Some of the methods of E-Payments in India

Aadhar enabled payment system (AEPS)

Introduction -Biometric Micro-ATM

Biometric Micro-ATMs from Bioenable are latest

biometric authentication enabled handheld
device.Micro-ATMs are also known as a Point of
Transaction Terminal(PoT).
Some of the methods of E-Payments in India

Aadhaar Enabled Payment System (AEPS)

AEPS ALLOWS BANK-TO-BANK TRANSACTION AT POS (MICRO ATM) WITH THE HELP OF
BC
ONLY AADHAAR NEEDED

AADHAAR ENABLED SERVICES

Balance Enquiry
Cash Withdrawal
Cash Deposit
Aadhaar to Aadhaar Funds Transfer
Some of the methods of E-Payments in India

Aadhaar Enabled Payment System (AEPS)

Key Steps for AEPS Transaction

Go to a
Provide your Choose which
MicroATM or
bank name and transaction to
Banking
Aadhaar do
Correspondent

On successful
Provide Finger
Process transaction,
print on
Completed take the print
scanner
slip
Some of the methods of E-Payments in India

Aadhar enabled payment system (AEPS)

Application Biometric Micro-ATM

Micro-ATMs will primarily perform the

following functions:
Cash withdrawal
Cash deposit
Balance inquiries
Remittances
Some of the methods of E-Payments in India

Aadhar enabled payment system (AEPS)

Micro-ATMs Need

In the rural area it is not feasible for the banks to

availing ATMs for following reasons
High ATM Set up cost
Low Rural population
Transaction volume is low
Low transaction value
Micro ATMs from BioEnable Technology is a one
stop solution for banks bring ATM services to the
unbanked rural areas in a secure manner.
Some of the methods of E-Payments in India
Aadhar enabled payment system (AEPS)
Micro-ATM works

Micro-ATM will be operated by the Bank appointed Business

correspondents (BC )The Bank appointed BC handle the physical
currency , not like a regular ATM machine.All transactions will
require online biometric authentication with the UIDAI
authentication server in order to be processed.
This Biometric Micro ATMs will allow customers to perform basic
financial transactions using only their AADHAAR number and their
fingerprint as identity proof (along with a Bank Identification
Number for inter-bank transactions). Unlike an ATM, the cash-in /
cash-out functions of the micro ATM will be performed by an
operator, thus bringing down the cost of the device and the cost
of servicing the customer. The micro ATM will support the
following financial transactions:
Cash Transaction :- Cash Deposit ,Cash Withdrawal
Funds transfer
Balance inquiry for Bank Account
Some of the methods of E-Payments in India

Aadhar enabled payment system (AEPS)

Benefits Biometric Micro-ATM Solution

High Accuracy
Give strong authentication
Biometric authentication is used instead of PIN
Cost Reduction :- Hidden costs of ATM card management
like card personalization, delivery, management, re-
issuance, PIN generation, help-desk, and re-issuance can
be avoided
Suitable for Indian rural area
Flexible account access allows clients to access their
accounts at their convenience
Low operational cost
 Some of the methods of E-Payments in India

Aadhaar Enabled Payment System (AEPS)

Screen
Shots
Some of the methods of E-Payments in India
E-
Wallets
What are e-wallets
ELECTRONIC PRE-PAID PAYMENT SYSTEM, MOBILE-FIRST

USED IN PURCHASING ITEMS ON-LINE WITH A COMPUTER

OR A SMARTPHONE AT A STORE.

AN INDIVIDUAL'S ACCOUNT IS REQUIRED TO BE LINKED

TO THE DIGITAL WALLET TO LOAD MONEY IN IT.

PROVIDED BY MANY BANKS AND PRIVATE COMPANIES

Some of the methods of E-Payments in India
E-
Wallets Using Wallets
Consumer Wallet Limits: Rs.20,000/month for all. Rs.1 lakh/month with KYC

Load Money
Consumer Start using
Sign Up Using Debit
Downloads wallet to
Using Card/Credit
the App on make
Mobile Card of
smartphone payments
NetBanking

Merchant Wallet Limits: Rs.50,000/month with Self Declaration. Rs.1 lakh/month with KYC

Shopkeeper/Service
Self Declare itself as Start Accepting
Provider Downloads Sign up using Paytm
a Merchant Payment
the App

Basic Requirements to Start Using a Wallet: Bank Account, Smartphone, 2G/3G

Connection & A Free Wallet App
Some Popular E-Wallets

Airtel Money:

With the Airtel Money app, users can easily

recharge prepaid accounts or pay postpaid bills.
You can also shop online if your digital wallet
has cash loaded in it. Its also extremely safe as
every transaction or payment you make
requires a secret 4-digit mPin.
Some Popular E-Wallets

Citi MasterPass:
Citi MasterPass, a free digital wallet, helps
make checking out while online shopping a
speedier process. Once youve stored all
your payment and shipping details in your
Citi Wallet, simply click on the MasterPass
button and it will take care of the rest.
Some Popular E-Wallets

Citrus Pay:
Citrus Pay, one of the top e-wallets in India, it offers
a Citrus wallet for customers as well as payment
solutions to businesses. With a strong base of 800
million customers, it has definitely earned its spot
as one of the best mobile wallets in India.
Some Popular E-Wallets
Ezetap:

Ezetap, a Bangalore based digital payment solution

founded in 2011, offers business owners solutions to
accept card payments via electronic devices. It also
send customers e-receipts through an SMS or email.
Some Popular E-Wallets

Freecharge:
Freecharge, one of the most famous names right now
when it comes to digital payment in India, has been
known to target the youth in all their promotions.
With equivalent amount of coupons given for every
recharge you make, its a great option to save while
paying your bills online.
Some Popular E-Wallets

HDFC PayZapp:
HDFC PayZapp, making digital payment in India
simplified with one click payments, is one of the top
online wallets in India. Users can easily compare
flight and hotel tickets and even buy music or pay
bills with the app. Simple connect your debit/credit
card once and forget worrying about making
payments.
 Some Popular E-Wallets
ICICI Pockets:
While you might find a Pocket card redundant, considering
youre opting for an e-wallet app to avoid using a card, they
do have a pretty neat wallet app. Its VISA powered and
can be used on any Indian website, or to transfer money to
email ids, WhatsApp contacts, and also just tap and pay
your friends easily.
 Some Popular E-Wallets

JioMoney:
JioMoney, launched recently in 2016 by Jio, is a digital
payment app. With JioMoney, one can receive great
discounts and offers. Users can also bookmark their
frequently visited retailers so shopping can be made quicker
than usual.
 Some Popular E-Wallets

Juspay:
JusPay Safe is a payment browser with over
650+ transactions in a day. They offer a
browser with which users can make payments
quickly via cards with 2 clicks.
 Some Popular E-Wallets
LIME:
LIME, launched by AXIS in 2015, was the first mobile
app in India to integrate wallets, shopping, payments,
and banking. Apart from the usual features like making
payments, they also let you analyze what you spend.
With a cool feature that rounds up all your change and
invest in a deposit, and a shared wallet tool, theyve
definitely earned their spot in the top list of mobile
wallets in India.
Some Popular E-Wallets

.Mobikwik:
Mobikwik is a Gurgaon based e-wallet payment
system in India that helps its users store their money.
Founded in 2009 by Bipin Singh and Upasana Taku,
this digital wallet enables users to recharge, pay bills,
and make third-party purchases with one tap
 Some Popular E-Wallets
MomoeXpress:
MomoeXpress, a Bangalore based digital wallet in
India, claims to have the fastest checkout system.
Though theyre only available in Bangalore, they have
a wide range of solutions they offer to residents on
the city. From paying for your rickshaw ride to salons
& spas, there are over 3000 outlets available at your
disposal.
 Some Popular E-Wallets
MoneyonMobile:
MoneyOnMobile, authorized by the Reserve Bank of
India, enables users to buy goods, products, and
services from registered merchants. Its a multilingual
app that reaches remote areas of the country to
millions of users making online payments available to
a wide population.
Some Popular E-Wallets
Mswipe:
Mswipe, the first mobile point-of-sales solution in
India was founded in 2012. They dont exactly offer an
app, but they do provide a machine that can be
attached to your mobile device to accept card
payments. This may not be a digital wallet app but it
does support going cashless.
 Some Popular E-Wallets

Ola Money:
Ola Money, launched in 2015, is a digital wallet in
India offered by Ola. While its majorly being used to
make payments for Ola cab rides, making cashless
traveling a dream come true, it can also be used to buy
groceries or flight tickets and much more.
Some Popular E-Wallets
Oxigen:
Oxigen, a FinTech company founded in July 2004, is
one of the major providers of digital payment in India.
Along with making online purchases and paying bills,
you can also send gift cards to your dear ones.
Some Popular E-Wallets

PayMate:
PayMate, founded in 2006 by Ajay Adiseshann,
launched PayPOS in 2012, an app for small business
owners to receive payments conveniently via debit
cards and credit cards and also process electronic
transactions.
Some Popular E-Wallets
Paytm:
Paytm, launched in 2010, is currently the largest
mobile wallet app in India. With payments via Paytm
being accepted almost everywhere, its hard not to
simply switch to it completely. From paying mobile
bills to buying movie tickets, theres almost nothing
you cant do with Paytm.
Some Popular E-Wallets
State Bank Buddy:
State Bank Buddy, a product of State Bank of India, is
an online wallet in India thats available in 13
languages. Users (non SBI account holders too) can
send money via Facebook, or to other bank accounts,
book hotels or movie tickets and much more!
Some Popular E-Wallets

PayUmoney:
PayUmoney, a part of PayU India, is a free payment
gateway solution for merchants to collect payments
from customers via debit/credit cards or net banking,
and more. They also offer SMS and email invoicing for
merchants that do not have a website.
 Must Do Practices
Register your mobile number at bank for regular information
by SMS for every transaction
Never share your PIN to anyone
Transact at only trusted merchants
While at ATM, ensure no one is looking over your shoulders
Never respond to call who pretend calling from Bank and ask
for Card Details by giving spicy offers
Never respond to emails which says that you have won big
amount or someone has left big money for you.
Government initiatives for DIGITAL
PAYMENTS

LUCKY GRAHAK
YOJANA
&
DIGI- VYAPAR
YOJANA
 Current Scenario
Only 5% of 1 Billion+
PCE in India Mobile
is Digital Connections

Usage of Cash in Consumer Payments

98
85 86
Low 68 371+ Million
Taxation 55 Smartphone
Base 38
43 s

14

25 Crore+
Large % as volume % as value
Jan Dhan
Informal
Accounts
Economy
Opened
Drive Against Corruption and Black
Money

25 crore Jan Dhan Accounts

Statutory Status to Aadhar

Introduction of RuPay Cards

Income Declaration Scheme

Demonetization of High Value Notes

 Incentives to Promote Digital
Payment
1 lakh Villages to be provided with 2 PoS machines

Regional Rural Banks & Cooperative Banks to issue

4.32 crore Rupay Kisan Cards

10% discounts at fuel purchase, highway tolls, rail

tickets and insurance premiums

No service tax on all digital transaction upto Rs. 2000

PSBs advised to reduce PoS rentals to Rs. 100 per

month

Free accident insurance cover of up to Rs. 10 lakh for

online rail tickets

No transaction fees for payments made through digital

Lucky Grahak
Yojana
&
Digi- Vyapar
Yojana
 Digital Transactions through RuPay
er a g e Cards, UPI, AEPS & USSD
Cov
Transactions between 50- 3,000

Promotin
g
Separate incentives for Consumers
&
and Merchants
Rewardin Awards Random draw of Digital Transaction
g Digital Ids to select awardees
Payment
s

en ti ng
m National Payment Corporation of India
Imple ncy
Age (NPCI)
 Consumers
Mega
Awards
Transactio (14.04.17)
Daily : 15000 @ 1000 for 100 days
ns Weekly : 7000+ with max prize of 1 lakh
Beginning
for consumers
(08.11.16) Lucky Grahak Yojana
1. 1 Crore
First 2. 50 Lakh
Draw 3. 25 Lakh

for merchants
(25.12.1
6) 1. 50 Lakh
Digi- Vyapar Yojana 2. 25 Lakh
3. 5 Lakh

Weekly Awards :7000 with max award of

Merchant 50,000
s
 a t e d
Esti m
n d i ture 340 Crore
Expe
C2M, C2G and all AEPS transactions
Promoting Technical and Security Audit of the
& Rules backend software/ infra by NPCI
Transactions using RuPay, USSD, UPI
Rewarding
& AEPS only
Digital
Payments
Transactions above Rs 3000/- and
i s n ot below 50/-
t
Wha red P2P and B2B transfers
cove Transactions through Credit cards/ e
wallets
 Thank you for your kind attention.
Wish everyone a happy and cheerful Life
Ahead

Take care and Keep Smiling

For Any Further Query Please feel free to contact
Capt. Amit Kumar
Pilot & Consultant (Aviation, IT & Telecom Domain)
Email : captamitkr@gmail.com
Mobile : +91 9013728083 , 9431002987
Yahoo/GoogleTalk/Hangout/LiveMessenger/Skype ID: chaliya007
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