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Saturday, April 2, 2022

NPCI Circular No 142 – Acceptance of UPI based payments by Merchants

 NPCI Circular No 142 – Acceptance of UPI based payments by Merchants


NPCI – UPI Division released the Circular Non n142 on 25th March 2022, highlighting the need for Merchants to accept UPI Payments from any UPI App.

The circular is addressed to all Banks on UPI.

Gist of the circular:

UPI acquiring banks need to ensure that merchants on-boarded (directly or indirectly) accept payments from any UPI App and do not restrict payments from specified UPI apps only.



This is to ensure that there is a level playing field to all UPI apps and consumer has the choice of making a payment from his/her preferred UPI App.

Please note that is applicable to only UPI-Collect Requests.


Under the UPI Scan n Pay at the merchants physical place, the customer can pay through UPI App.

UPI-Collect is one of the most preferred payment modes to buy goods / services on

e-commerce sites.


Under the UPI-Collect mode, customer need not disclose their bank account details. They can just key in the UPI VPA, and log into the respective UPI App to complete the payment.

Major e-commerce players have their own UPI handles to receive payment from their customers. EG: Amazon Pay has 2 UPI Handles.,

Axis Bank@apl

Yes Bank@yapl


Now with the above circular, e-commerce players will have to offer a choice to their customers to pay from any UPI App.


In case of any customer complaints, NPCI may take appropriate action, as the case might be.


Read the complete NPCI Cir No 142 @ https://www.npci.org.in/PDF/npci/upi/circular/2022/UPI-OC-142-Acceptance-of-UPI-based-payments-by-merchants.pdf




Sunday, January 23, 2022

WhatsApp Status Update - WhatsApp has sent you a UPI Payment Reminder

WhatsApp Status Update - WhatsApp has sent you a UPI Payment Reminder

          WhatsApp through the Status Tab is sending messages to its users in India to try out UPI payments through WhatsApp      

Once you click on WhatsApp Status Tab, a message from WhatsApp will appear. Something similar as below.



          There are around 3 different screens, each screen highlighting the benefits of routing UPI transactions through WhatsApp.

          The short advertisements are a reminder that WhatsApp is in the payment business too.



          Read more here about the various aspects of WhatsApp payment journey in India

Link 01) WhatsApp Payments offering cashback to Android and iOS users @ https://www.livemint.com/technology/whatsapp-payments-offering-cashback-to-android-and-ios-users-see-details-11635834921524.html

 

Link 02) WhatsApp betting big on rural India with its UPI feature @ https://www.cnbctv18.com/business/whatsapp-betting-big-on-rural-india-with-its-upi-feature-11941162.htm

Two recent user-friendly tools to enhance the payment experience

Tool 01 - In September, WhatsApp placed the ₹ symbol in its chat-composer, to make it recognizable and easy for people across segments to use its digital payments feature.  This feature is a powerful reminder for WhatsApp, to make UPI transactions on the go.

 

Tool 02 – Also, WhatsApp has equipped its main camera to scan QR codes. Through this feature, WhatsApp users can make payments to UPI merchants too. This expands the scope of the WhatsApp payment channel.

 

As per a few reports available on the internet, WhatsApp has also started offering cash-backs to a few Android and IOS users. However, there is no official comment on this.

As NPCI publishes the monthly run rate of each UPI TPA (Third Payment App) the strike rate of these short status messages will be known in the coming months.

 

 

 

 

 

           

Thursday, January 6, 2022

 NPCI Bharat BillPay Ltd. announces a Block Buster with Unified Presentment Management System (UPMS)



            NBBL, a wholly-owned subsidiary of National Payments Corporation of India, unveiled a Block Buster for Bill Payments i.e , the UPMS.

The full form of UPMS is Unified Presentment Management System.

UPMs will play a key role in pushing up volumes from the present 19 lacs daily average to 100 lacs by 2024.

AXIS Bank, IDFC First Bank and PhonePe are off the block offer UPMS to their customers as soon as possible.

At the same time, multiple Banks and Consumer Tech companies are accessing the sandbox finetuning their UPMS offerings.

As the launch date comes closer, there will be more clarity of the process flow.

Q: What is UPMS?

Ans: UPMS is a platform wherein the customers will be able to set up bill fetch requests from BBPS Billers based on unique identifiers.

The unique identifiers can be customers

a)      Account Number with the Biller

b)      Registered Mobile Number

c)       Registered email Id

NBBL through UPMS will enable the customers to set up standing instructions – from any channel and for any mode on their recurring bill payments.

The bills will be automatically fetched from the billers and presented to customers for their action, in terms of auto-debit and bill payment management.

Customers will be able to see the status of all their saved bills in one platform.

Q: What are the benefits expected from UPMS

Ans: 01) Customers need to do only update their unique identifiers of the bills once.

02) As and when the bill against the unique identifier is generated by the biller, the same will reflect in UPMS. Customers need not log into different portals to check their bill status.

03) As and when customers pay their bills via any BBPS Channel /  any BBPS Mode, the payment details will reflect under the particular bill in UPMS

04) This means I as a customer, can register my Electricity bill on UPMS and in November 21 pay the electricity bill via PAYTM, in December 21 via PhonePe, in January 22 via Amazon Pay and all the monthly bill details / payment details will reflect in UPMS

The benefits are immense and as customers, especially corporate customers start using UPMS they will be able to appreciate the simplicity of UPMS.

The only criteria are that the billers has to be part of the BBPS platform.          

 

Q: At present, how many billers are Live on BBPS?

Ans: 20,000 + Billers across multiple categories are Live on BBP.

The highest category of billers is from the education sector. More than 17,000/ - from across India are part of the BBPS.

This means Students / Parents can pull the pending fee details based on a unique identifier and pay the same.

 Q: Can Mutual Funds join as Billers on BBPS?

Ans; Yes, Mutual Funds can join as Billers especially for SIPs investments.   

Q: What are the most favorite categories of Bill Payments on BBPS?

Ans: The most favorite categories of bill payments are Electricity and FASTag

Electricity as the bills are generated month on month and have to be paid before the due date

FASTag as folks prefer to top-up while traveling along Toll Roads and top-up via BBPS is extremely fast and easy.

Q: What is BlockBuster?

The Merriam-webster Dictionary defines "Blockbuster", as - that is notably expensive, effective, successful, large, or extravagant –

UPMS is Large and on the way to be successful.  

About NPCI Bharat BillPay Ltd.

NPCI Bharat BillPay Ltd. is a wholly-owned subsidiary of National Payments Corporation of India.

Came into effect from April 1, 2021, NBBL is growing rapidly on account of the ease and accessibility it offers to the customers and the one-stop solution to Billers for low-cost collections.

The platform offers 20,000+ billers across multiple banks and non-bank channels.

 

Source Article: https://www.npci.org.in/PDF/npci/press-releases/2022/NBBL-Press-Release-NBBL-launches-Unified-Presentment-Management-System-(UPMS)-to-simplify-bill-payments.pdf

 

 

Disclaimer: These are my personal opinions only. The bottom line ‘Safe ePayments’.

Nothing more - Nothing Less. 

Sunday, October 3, 2021

UPI – Standardisation of Transaction Limits

 

UPI – Standardisation of Transaction Limits

NPCI – UPI Team vide Circular dt 24th September 2021 announced standardization of UPI Transaction limits.

            The circular is addressed to UPI Member Banks, UPI PSPs, and UPI Third Party Application Providers.

            The Go-Live date is 31st October 2021. This means from 1st November 2021; UPI end-users will experience the same kind of limits across all UPI Apps.




            There are different limits for:

01)

P2P/ P2M

P2M

Non-Verified Offline

02)

P2P/ P2M

P2M

03)

P2M Verified Specified Categories (OC 82, OC 96)

 

The limits for Category 01 transactions is Rs2,000/-

The limits for Category 02 transactions is Rs1,00,000/-

The limits for Category 03 transactions is Rs2,00,000/-

Read more about the limits at cashfree blog @ https://blog.cashfree.com/upi-transaction-limit-2020/

 

Disclaimer: These are my personal views only. The bottom line is Safe ePayments. Nothing more – Nothing less.

           

 

Sunday, September 12, 2021

Slice Super Card or Uni 1/3rd Card – Who will give me these 7 features?

 Slice Super Card or Uni 1/3rd Card – Who will give me these 7 features?

Basic Assumption: Both Slice Super Card and UNI card are prepaid cards with a credit limit.

Technically they are not Cred Cards, but function as credit cards.

I am looking forward to the below 7 features, to enhance my user experience.



NF1) Let us the user decide if he/she want a lower limit than the arrived limit

DE1) Say, the underwriting team of “SLICE SUPER CARD” / Uni decides to grant me a limit of RS5,55,555/-. I am not comfortable with such a high limit and would like to start off with a limit of Rs1,11,111/- only. The modification option should be directly available in the App itself. This way I will not be tempted to overspend and fall in a debt trap.

Of course, this may be a bad business decision for “SLICE SUPER CARD” / Uni, but is customer friendly.

NF2) Increase the repayment channels. Please engage with CRED and let users pay their billed amounts via CRED. Repayment directly from the APP itself - UPI or NEFT or IMPS

DE2) The repayment to the “SLICE SUPER CARD” / UNI prepaid cards are a major pain point. As the Card BIN is of Prepaid card, many payment channels do not support the same. As the user base increases, the complaints will amplify across social media.

“SLICE SUPER CARD” repayment period is 3 days from the billing date. Hence, it becomes much more important for a seamless repayment experience.

Hopefully, this will be sorted out soon.

 

NF3) Copy of Report shared to Credit Bureaus

DE3) As these are prepaid cards, not sure as to what will be reported to Credit Bureaus i.e sanctioned loan amount or Overdue amount (how will overdue amount be calculated) or the billed amount. Hence, for transparency it will be great if “SLICE SUPER CARD” / UNI share the credit reporting of the card holder as and when submitted.   

 

NF4) Add on Cards by carving limits

DE4) I have a sanctioned limit of 6 digits, I would like to carve 4 digits out of the same, and stand guarantee to my 18years + ward. This way my ward will learn the joy of digital transactions. “SLICE SUPER CARD” / UNI can have a new business stream. Also, my ward will be able to build a decent credit score.

 

NF5) BBPS option directly on the APP

DE5) Bill Payment is a major recurring activity in individual’s life. It will be helpful if the BBPS payment is directly integrated into the APP.  This will encourage “SLICE SUPER CARD” / UNI card holders to pay their BBPS Bills via their “SLICE SUPER CARD” / UNI cards only, instead of doing transactions from other APPS

 

NF6) Carryover instalments with the minimum interest charges

DE6) Transaction Date 25/06/2021 INR12,000/- , card holder chooses 1/3rd as per the below billing dates

Billing Date A) 01/07/2021 – Instalment 1 of INR4,000/-

Billing Date B) 06/08/2021 - Instalment 2 of INR4,000/-

Billing Date C) 11/09/2021 - Instalment 3 of INR4,000/-

Say, card holder wants to postpone Instalment 2 of INR4,000/-

There should be an option to rollover the same, with the additional cost informed upfront.

Of course, all card holders may not be eligible for the rollover option.

 

 

NF7) Option to split last transactions made on 1 prior billing cycle – EXPLAIN IN DETIAL, Restore the limit, reversal of 1% cashback

DE7) EG: Billing Date A) 01/07/2021,

Billing Date B) 06/08/2021

Billing Date C) 11/09/2021

Card Holder makes a transaction of INR10,000/- on 10/07/2021 and prefers to pay in full, instead of the 1/3rd option.

He / She may be given the option to convert the INR10,000/- transaction into a 1/3rd transaction up to 11/09/2021 billing date

 

If you want any new feature, please write to    or,

            If the same is feasible, “SLICE SUPER CARD” or UNI Management team may make it live.            

            Unless, you try, you cannot predict the outcome.

            So, go ahead,

UNI Contact Details: mobileadmin@uni.club, 080 – 68216821

“SLICE SUPER CARD” Contact Details: +91-8047096430, help@sliceit.com

 

 

Disclaimer: These are my personal views only. The bottom line is Safe ePayments - Nothing more, Nothing Less

 

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