Mobile Payments - Go Cashless

After demonetization, apart from the PoS machines, many other digital payment modes have cropped up including mobile wallets, including Aadhaar Enabled Payment Systems (AEPS), Unified Payment Interface (UPI), and even Unstructured Supplementary Service Data (USSD). From all of these, USSD is primarily meant for people who do not have smartphones or internet connectivity but wish to adopt the *99# service for digital banking and cashless payment system.
*99# is a USSD based mobile service for banking transactions, which can be used by both smartphone and basic phone users. However, to use this service, it is imperative that the user has a registered mobile number with his bank account, which can be done either at the bank or through an ATM. Why *99# service is so helpfulWhat would be more convenient and quick than to simply dial a number to check your bank account balance or even make payments? *99# services is loaded with many more features including:
The service also works on basic G…

India is slowly moving towards cashless economy, and we have recently seen e-wallets taking over cash. There are UPI-based payments gateways through which people can pay at the shops and restaurants, and these payment gateways can also be used for electricity, DTH, telephone landline, and LPG payments.
However, UPI apps can only be used when you have an internet connection and that can prove to be a problem, considering only 460 million people have access to the Internet out of the 1.252 billion population. And that is exactly where USSD- based mobile banking comes into picture. What is USSD payment method?
Unstructured Supplementary Service Data (USSD) is developed by NUUP National Unified USSD Platform. It lets users send and receive money without internet connectivity. The best part is – this technology can be used without a smartphone. When you do a transaction with USSD, the payment is done directly between the bank and the telecom operator. To transmit the information, the payment g…

Flipkart, India’s largest Ecommerce enterprise has launched its own digital wallet, PhonePe. Built on the platform of Unified Payment Interface (UPI), PhonePe lets you transfer funds instantly without even loading your PhonePe app with money. That’s right, unlike other digital wallets, where you are required to load money first in the wallet, to be able to use it for transactions, with PhonePe you can directly use the money on your bank for payments.
In fact, Flipkart also announced that Myntra’s ‘My Cashback’ feature would be converted into the PhonePe wallet. Currently, only available for Android users, PhonePe will soon be launched for iOS and other operating systems as well. All the useful features of PhonePe Loading the PhonePe wallet with money isn’t required once your bank account is linked to the app All refunds and cashbacks will be credited to the PhonePe wallet You can withdraw the balance in the wallet to your bank free You can also use PhonePe wallet to transfer funds betwee…

The government along with the Reserve Bank of India is making all the efforts to eliminate all mediators between merchants and customers. The government has recently introduced an interoperable Quick Response (QR) code system which can be used instead of the PoS or swipe machines to accept payments.
An interoperable QR code will help the merchants accept payments directly from the customer’s mobile phone without any PoS terminal. A standard QR code for the various financial transactions is needed, as the current QR codes are not recognized across all the wallet applications. For instance, though PayTM has a QR code based payment system, it allows fund transfer only between two PayTM users. How payments would be easier with QR Code A common QR code will be able to identify multiple payments gateways like MasterCard, Visa, and RuPay. Users will be able to transfer funds from their phone irrespective of the app or the service provider they are using.
At the time of payment, the merchant …

A payment gateway provides a safe and secure channel for the consumers and merchants for accepting and making payments.
CCAvenue, PayU, and Paytm have emerged as the preferred payment gateways by many around the country. However, the major question here is - How to decide which payment gateway service is the best for the online business?
Luckily, we are here to help you make the right decision. CCAvenueLaunched in 2001, CCAvenue is one of the veteran payment gateways in the Ecommerce industry. Nearly 85% of the Indian merchants avail the services of CCAvenue. Some of the
Key features of CCAvenue are: Multiple currency processing 100+ payment options Zero setup fee Retry option, where the customers can make a purchase in three attempts SNIP, which allows the merchants to collect payments across various social media channels
CCAvenue payment gateway supports the largest network of banks and payment options. The vast network of payment options is evident as the gateway supports 100+ debit ca…

With the recent turn of events, many alternate payment channels like e-wallets and mobile payments have cropped up in respect to financial transactions. Till now you could transfer funds through the various apps from your phone to a bank account, another mobile number, or any service provider. However, now you can do financial transactions from your mobile through just an SMS.
SMS payments have hence become the easiest ways to transfer funds. Although, there are many beneficial factors of SMS payments, one of them is that the users don’t even need to have a bank account to avail the SMS payment service. Let’s find out how can SMS payments be used for transactions. How to use SMS PaymentsFollow the steps below to know how to transfer funds using SMS service: Share your mobile number with the receiver The receiver will send you a text containing his name and the payable amount You can authorize the payment either by entering the payable amount or the alphanumeric code you have received The…