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Digital payments

It's all about how to do Cashless/ Digital transactions, types of Cashless/ Digital Transactions

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Digital payments

  1. 1. Digital Payments Transforming India to Digital India
  2. 2.  Based on an article from Economic Times.
  3. 3. Synopsis  Introduction  Multiple Digital Payment Options Unified Payment Interface(UPI) E- Wallet Cards and PoS Aadhar-enabled Payment System Unstructured Supplementary Service Data(USSD)  Policy Measures by Government  Barriers to Digital Payments
  4. 4. Introduction  Payments are made using payment instruments. Cash, for example, is a payment instrument. ... the nature of the payment instrument is Paper Digital / Cash Less : Every Instrument other than Cash (Non Cash) and which does not rely on paper(Non Paper) for its transaction. Simply, in other words, transactions that mainly use Electronic mediu m are considered as Digital
  5. 5. Unified Payment Interface(UPI)
  6. 6. Unified Payment Interface(UPI)  UPI is an indigenously developed platform by National Payments Corporation of India (NPCI) and set up with the support of the Reserve Bank and Indian Banks Association (IBA). UPI is an open and interoperable technology stack that works by allocating a unique identification or address (not bank account/card details) for each user, resulting in more secure transactions.
  7. 7. Unified Payment Interface(UPI) Logo: Industry: Finance Founded: 11th April, 2016 Founder: Reserve Bank of India Headquarters: Mumbai, Maharashtra, India[1] Products: Online platform for transactions Parent: National Payments Corporation of India Website: www. npci.org.in More Info:
  8. 8. Unified Payment Interface(UPI)  UPI allows customers to transfer money across banks with the use of a virtual address such as USER ID or MOBILE NO.  Some of the features are as follows:  It will be available 24/7 including Sundays and Public Holidays.  Notifications for the payments are received immediately.  Secure Payment Gateways  You can schedule your Payments and stop worrying about deadlines.
  9. 9. Unified Payment Interface(UPI)
  10. 10. Unified Payment Interface(UPI) UPI can be used in many day to day activities  Transfer of money to friends and relatives  Paying Utility Bills  Buying Railway and Movie Tickets  Barcode( Scan and Pay)-Based Payments  Insurance Premium Collection  Donations, School Fees and other over the counter payments  E- Commerce, Retail Stores How to start using this service  Android Users can download the respective bank's UPI- enabled mobile app from the Go ogle Play Store. IOS users will have to wait longer.  Currently, 30 Banks including SBI, PNB, Canara etc; have their individual platforms.
  11. 11. Unified Payment Interface(UPI)  This is Barcode( Scan and Pay )- Based Payment Methods
  12. 12. Unified Payment Interface(UPI)
  13. 13. Unified Payment Interface(UPI)
  14. 14. E- Wallets  E-wallet is an online prepaid account where one can stock money, to be used when required. As it is a pre-loaded facility, consumers can buy a range of products from airline tickets to grocery without swiping a debit or credit card.  Examples :
  15. 15.  First of all, as it is a Wallet, we have to load money into that for using our money online.  We can load money from various sources 1. Debit Cards / Credit Cards / Prepaid Cards 2. Directly from Bank Accounts using Internet Banking 3. Requesting money from Parents, Relatives and Friends E- Wallets How do they work?
  16. 16. E- Wallets What they can be used for?  Recharges  Mobile Recharge  DTH Recharge  Datacard Recharge  Metro Card Recharge  Bookings  Hotel Bookings  Movie Tickets  Travel Tickets  Bill Payments  Landline Bills  Broadband Bills  Electricity Bills  Postpaid Mobile Bills  Gas Bill Payments  Water Bill Payments  Insurance Premiums  Amusement Park Tickets
  17. 17. Types of E- Wallets Bank led Telco led Prepaid E- Comm Tech Payment Banks
  18. 18. E- Wallets - Paytm
  19. 19. Download and install the Paytm app on your phone. The is available on Play Store, Windows Mobile Store and the iOS App Store. 1 E- Wallets - Paytm
  20. 20. Sign Up for Paytm2 E- Wallets - Paytm
  21. 21. E- Wallets - Paytm Once you have logged into your account, you need to put in some money into it. 3 Load Money
  22. 22. E- Wallets - Paytm Pay or Send Money 4 і) iі) iii )
  23. 23. E- Wallets - Paytm 5 Receive Money
  24. 24. E- Wallets - Paytm The app offers a "nearby" option which shows all the places near your location that accept payment through Paytm. Nearby Search Option 6
  25. 25. PoS (Point of Sale)  The “point” where a transaction is finalized or the moment where a customer tenders payment in exchange for goods and services. Any form of payment can be used, such as cash, debit cards, credit cards, mobile payments and even Bitcoin.  Types of PoS  Physical PoS  M- PoS  V- PoS
  26. 26. PoS (Point of Sale) Types of PoS PHYSICAL POS Physical Card Swiping - PTSN with landline / GPRS enabled M - PoS Phone connected with external PoS device through jack/ Bluetooth V - PoS Virtual E-payment Gateway
  27. 27. PoS (Point of Sale)
  28. 28. PoS (Point of Sale)
  29. 29. PoS (Point of Sale)
  30. 30. V- PoS  No PoS Machine required  QR Code used for payment to Bank Account of Merchant  Complete Privacy of Merchant Bank Account PoS (Point of Sale)
  31. 31. Unstructured Supplementary Service Data (USSD) based Mobile Banking  *99# - National Unified USSD Platform (NUUP)
  32. 32. Unstructured Supplementary Service Data (USSD) based Mobile Banking Requirements 1.ACCOUNT IN A BANK 2.ANY MOBILE PHONE ON GSM NETWORK
  33. 33. Registration 1. Visit any Branch to link mobile number and bank account (it can be done at ATM or Online also) 2. You will get your Mobile Money Identifier(MMID) and Mobile Pin(MPIN) upon registration 3. Remember your MMID and MPIN Unstructured Supplementary Service Data (USSD) based Mobile Banking
  34. 34. Unstructured Supplementary Service Data (USSD) based Mobile Banking Dial *99# from your phone 1 2 3
  35. 35. Unstructured Supplementary Service Data (USSD) based Mobile Banking 4 5 6
  36. 36. Unstructured Supplementary Service Data (USSD) based Mobile Banking 7 8
  37. 37. Massive Growth in Digital Transactions
  38. 38. Important Statistics
  39. 39. Important Statistics
  40. 40. Policy Measures by Government
  41. 41. Barriers to Digital Payments
  42. 42. A Presentation by Venkatesh Kumar Maale