Andhra Bank- A Leading Public Sector Bank, trying to increase it’s pie of ePayments

Andhra Bank- A Leading Public Sector Bank, trying to increase it’s pie of ePayments

A good number of Public Sector Banks, are waking up to the immense possibilities of ePayments.

Andhra Bank is one such bank, the full text of this development can be accessed at

http://www.thehindubusinessline.com/2009/06/19/stories/2009061952450100.htm

Mr.Mathew Josheph, Deputy General Manager, Andhra Bank, feels that the transaction cost of ePayments as compared to normal banking is very less.

Andhra Bank, in my view, can increase it’s share of ePayments and also it’s CASA Base by -- Installing POS Terminals at APSRTC(Andhra Pradesh State Road Transport Corporation), Ticket Counters.

On an average, the cost of an Overnight Inter-State Ticket is Rs350/-, and 70% of the inter-state travellers are aware of Debit cards, and its benefits.

By installing POS Terminals, Andhra Bank can tap the float funds of APSRTC and also gain experience in marketing ePayments products.

Another untapped segment is the School/College Fees. This is a lucrative segement and again 60-70% parents are aware of the benefits of Debit Cards.

In fact, the above two segments are waiting to be captured by Banks for ePayments and the first-mover will have the last laugh.

Come On Andhra Bank------- You can lead the way for ePayments in Road Corporations and Education sector