Uber Cool, Hot & Happening in Mumbai

Tuesday, September 19, 2017

Chak De India Aajma le BHIMKaDum with NPCI


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Once upon a time in Mumbai, while travelling in a office hour-rushed local, we had an ironic epiphany. An epiphany was that , we had the Celebrity among us , who had possessed The Credit card. An irony was that , we discovered her Celebrity status only after she declared that she had lost that Credit Card. Rather confusing, is not it ?.  Let's take it bit by bit, cause that's how Electronics = E-Payments works in bits of 0 and 1.

In those days of manual banking, Internet was LUXURY, which could be afforded by a chosen few. Naturally E-banking, online transactions were rare like crystal clear Air. Very few elites possessed Debit , Credit , ATM cards and it was sort of status symbol to flaunt. Now in the era of Demonetization , transparency and E-currency CARDS are necessary and easily available. But the Million Dollar question is , how and which card to select ?

The answer is Simple and Sure fire. India is the largest & thriving democracy in the world. Our democratically selected Government is anytime more Trustworthy & Secure than the others. Get RuPay to Pay & Receive.



In the modern, high-tech world, Life is Easier, time-saving and Secure due to Electronic transactions. Our daily tasks are simplified eg. we don't need to stand in numerous queues for various payments. We don't need to carry cash-bundles for shopping, so no worry about thefts. All the work is done by a RuPay genie while we take it Easy. National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) for creating a Payment& Settlement Infrastructure in India. NPCI, is a “Not for Profit” Company to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. 

RuPay is an established brand with complete portfolio of debit, credit,  and prepaid cards. National Financial SwitchCheque Truncation System and Aadhaar Enabled Payment System are the flagship products of NPCI. With Immediate Payment Service, India became the leading country in the world in real time payments in retail sector. Bharat Interface for Money/Unified Payments Interface is the revolutionary product in payment system. The other recently launched products Bharat Bill PayNational Common Mobility Card and National Electronic Toll Collection are bringing revolution in small value electronic payments.


RuPay is a domestic, open-loop, multilateral payment system to all banks and financial institutions in India.featuring Common network, switching & interchange fees across all banks. It has in-built capability to offer tailor-made products for specific needs for the banking system. Pungrain, Kisan Card, Aadhaar based cards. It offers payment options across channels i.e. ATM / POS / e-commerce as well as Aadhaar based transactions at micro ATMs.

RuPay Advantages:
• All transactions under RuPay card scheme are processed within the country.
• RuPay complies with the regulatory requirement for debit cards and the PIN has been made
mandatory .This ensures a higher level of security to the customers.
• RuPay pricing is simple, transparent and highly competitive.
•RuPay has a strategic tie-up with Discover Financial Services and Japan Credit Bureau to
offer international acceptance globally.



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.and Bharat Interface for Money (BHIM) will make money transfers as easy as sending a text message in real-time.

 Go cashless – anywhere, anytime. A simple and secure way to make payments.
 24 x7 Instant money transfer service
 Scan and Pay
 Collect and receive money from your friends at a single click and that too instantly.
 Direct bank account to bank account transfer using UPI ID / Mobile No. / Aadhaar No. /
Account No. & IFS code.
 Generate and share yourpersonalised QR code.
 Instant notifications Get instant transaction alerts for every transaction on BHIM.
 Access BHIM App in your favourite language. BHIM is available in English and 13 regional
languages.
 Best answer to Cash on Delivery hassle, running to an ATM or rendering exact amount.
 Merchant Payment with Single Application or In-App Payments.



UPI Benefits 
1. Round the clock availability
2. Single Application for accessing different bank accounts
3. Use of UPI ID is more secure, no credential sharing
4. Single click authentication
5. Raise Complaint from Mobile App directly
6. Entertainment, Education Institutes, Retail etc. accept UPI payments from their customers.

I am sure, now Dhinchak Pooja will stop harassing us with ' Baapu Dede Thoda Cash ' 

Please check  www.Bhimupi.org.in , www.Rupay.co.in , www.Npci.org.in   for more details.

4 comments:

  1. It was terribly helpful on behalf of me. Keep sharing such ideas within the future similarly. This was truly what i used to be longing for, and that i am glad to came here! Thanks for sharing the such data with USA.

    ReplyDelete
    Replies
    1. Thanks and Welcome to 'Spirit Of Mumbai'

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