UPI adds one more believer to its channel – Karvy KTrack

          KTrack is the mobile investment App offered by Karvy Computershare Private Limited (KCPL)

Karvy forayed into the mutual fund servicing business in 1994 and has been servicing the open-ended mutual funds, since the time they were setup in India in their true form in 1995.

With Mutual Funds emerging as a distinct assets class over the years, Karvy entered into strategic alliance with Computershare, Australia, and formed Karvy Computershare Pvt. Ltd.

To simplify the whole life-cycle of Mutual Funds investments for retail investors, KCPL has launched a Mobile APP under the brand name KTrack.

The goal of KTrack is to enhance the mutual fund investment experience for retial investors.

Retail investors often get lost while managing Mutual Funds investments due to the multiple steps involved in the cycle.

From NAV details to fetching account statement to simple queries, all call for considerable time and effort. And if you are on the move, it becomes even more difficult, juggling portfolios, calculating net worth, sending emails to generate account statement, etc.

          Keeping all this in view, Karvy unveiled the KTRACK mobile app with enhanced user experience and all new services and transacting capabilities.

The Key features for Investors are:

1. Enhanced user experience

- Login through Facebook or Google account

- All new navigation menu

- Sliding tabs for ease of navigation

- OTP Read, and many more...

2. Link your family folios for single portfolio view

3. Invest or re-allocate portfolio from "My Portfolio"

4. Know your transaction status any time

5. Track your NAV performance

          KCPL has added the UPI channel as a payment option from this week. Through the UPI Channel, investors can seamlessly invest money in mutual funds, without the need to log into their netbanking portal or other payment channels.

           

Who will MotivatE Hoichoi to join NPCI’s Bharat Bill Payment System ?

The word "Hoichoi" literally means "chaos/ hullabaloo", and for Bengalis, there is no fun without chaos/ hullabaloo.

Hoichoi is an on-demand video streaming platform, owned and maintained by SVF Entertainment Pvt Ltd, launched on 20th September 2017.

Hoichoi is currently available for Android, iOS, Apple TV, Amazon Fire TV. It is the second OTT platform after 'addatimes' in worldwide focusing exclusively on Bengali language content

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Q: What is ‘on-demand video streaming platform’?

Ans: Video on demand (VOD) is a programming system which allows users to select and watch/listen to video or audio content such as movies and TV shows whenever they choose, rather than at a scheduled broadcast time, the method that prevailed with over-the-air programming during the 20th century. IPTV technology is commonly used to bring VOD to televisions and personal computers.

Q: What are the popular ‘on-demand video streaming platforms’ in India?

Ans: Top 10 OTT platforms in India

Q: What are the types of subscription plans available with ‘on-demand video streaming platforms’?

Ans: Free and Paid subscription plans are the norms across the streaming platforms.

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Hoichoi co-founder and director Mahendra Soni said that almost 40% of the platform’s audience comes from non-urban areas which is why it decided to emulate the successful telecom model and introduce Hoichoi Top-Up cards to make it convenient for our customers to subscribe to Hoichoi.

“This offline payment mechanism is never heard of before in the OTT industry and will help us reach the masses in Tier II and Tier III cities. One can simply purchase the Hoichoi Top Up Cards available for subscribing to our 3 months, 6 months and 12 months plans from the nearest retailer and access the largest collection of the best in Bengali entertainment on Hoichoi without having to do any online financial transaction,” he elaborated.

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          Bharat Bill Payment System (BBPS) platform is a better choice than the planned Top UP Cards.

The following are the reasons which favour BBPS

Reason 01) Multiple payment methods including Cash available at BBPS counters

Reason 02) BBPS Counters are spread across India and are not restricted to any geographical area

Reason 03) Reconciliation under BBPS is far simpler than reconciliation under Top UP Cards

Reason 04) Operating costs under BBPS are far less as compared to Top UP Cards

Reason 05) Goodwill across the media for the first OTT platform to ‘Go Live’, on BBPS

Reason 06) Trendsetter for media platforms to onboard BBPS

Reason 07) Opportunity to be part of Government’s Safe Digital program

BBPS Payment Modes: Cash, Wallets, Credit Card, IMPS, Debit Card, UPI, Prepaid Card, Net Banking

BBPS Payment Channels: KIOSK, Agent, ATM, Internet Bank Branch, Mobile, Business Correspondents

BBPS Payment Options : Full,Part,Minimum,Cut-Off, Duration, Excess, Penalty

Reference Articles:

Bengali content finds pan-India audience with growth of Hoichoi, a regional language OTT player

Bengali video streaming app Hoichoi plans offline subscriptions

The secret of Bengali cinema’s most powerful producers: ‘Keep making mistakes, keep making flops’

Hoichoi Leadership

Union Bank of India to join National Electronic Toll Collection (NETC)

          Union Bank of India has finally decided to join the National Electronic Toll Collection (NETC) bandwagon.  

Union Bank of India’s Head-Digital Banking has floated a REQUEST FOR PROPOSAL (RFP) for  ‘Selection of Vendor for Implementation of National Electronic Toll Collection (NETC) -Acquiring on OPEX Model’, in September 2018

          Union Bank of India, a Public Sector Bank has its Head Office at 239, Vidhan Bhavan Marg, Union Bank Bhavan, Nariman Point, Mumbai – 400021,and it’s its Digital Banking Department is in the same building on the  7th Floor.

Union Bank of India has a physical presence through its 4200+ branches spread across the country.

Bank has implemented a Core Banking Solution covering all its branches and also extends services to its customers via number of delivery channels like ATM, e-banking, Mobile banking, IMPS , POS, Debit/Credit Cards, Unified Payment Interface (UPI) , Union Selfie &Mpassbook, Ucontrol App for credit cards, Payment Gateway & Access control server solution, Bhim Aadhar, Bharat QR etc.

Now, seeing the potential of NETC, Union Bank of India too has decided to join the same.

Let us wait and see the benefits of NETC to Union Bank of India

Paytm Payments Bank encourages Punjab State Power Corporation Limited (PSPCL) to join BBPS

Er. Baldev Singh Sran   CMD PSPCL   said that with the support of electricity consumers, on July 16,2018, PSPCL has achieved a landmark in digital collections by collecting Rs. 220 crore on a single day.

During July, 2018, 45.43% of total electricity collections of PSPCL has been received through digital modes, which is the highest record of digital collection in this segment in our country.

          In May 2017, PSPCL partnered with Paytm to allow its 90 lac+ consumers to pay their electricity bills through the PAYTM APP.

          This digital payment mode was in addition to the facilities of ePayments  on PSPCL  website, through Debit Card, Credit Card, Net Banking etc.

          Speaking on the partnership, Principal Secy.Power ,Punjab Govt.cum Chairman & Managing Director of PSPCL & PSTCL Sh. A Venu Prasad, IAS said, PSPCL has already given the facilities of E-payment on its website, through Debit Card, Credit Card, Net Banking etc.

With the view to further promote online collection of electricity bills, PSPCL is happy to collaborate with Paytm to enable quick, seamless and easy bill payment experience. Consumers can tap on the  Electricity icon in their Paytm App, choose Punjab State Power Corporation Limited (PSPCL) as their preferred electricity utility, enter their consumer number and can make the payment instantly in few steps.

Taking this partnership further, Paytm Payments Bank has assisted to PSPCL to join the BBPS (Bharat Bill Payment System) channel.

The main advantage of BBPS is ‘Anywhere, Anytime’, Bills Payments.

PSPCL consumers need not search PSPCL collection centres to pay their bills, instead they can visit any BBPS collection centre and pay their bills.

BBPS counters accept cash payments too, this enables consumers to pay their bills in cash too without any geographical restrictions.

A wage-earner in Kerala can pay his/her family’s PSPCL electricity bill from Kerala itself by visiting the BBPS counter. This reduces the friction in bill payments and boosts bill payments within the due dates.

Speaking on the partnership between Paytm Payments Bank, BBPS and PSPCL, Punjab’s Minister for Power, New and Renewable Sources of Energy Sardar Gurpreet Singh Kangar said: “We are happy to note that consumers of Punjab State would be benefited with ease of bill payment service via Bharat BillPay.

This gives power and control to the consumer to pay bills of PSPCL or any bill across India via their preferred app/website enabled on Bharat BillPay at one location. This will also facilitate the digital India initiative as consumers will have access to all digital channels to make their payments.”   

A Venu Prasad, Principal Secretary, Power, Government of Punjab appealed all PSPCL consumers to pay their electricity bills through BBPS channels and “enjoy the convenience of easy online electricity bill payments”.

“We are confident PSPCL consumers will find this service extremely convenient and useful,” he said.   

The Digital Collections Tag Line of PSPCL is :

All payments exceeding Rs. 3 Lac in a billing cycle/month shall only be accepted through e-banking, credit/debit card, RTGS/NEFT or any other approved digital mode as per the CC no. 39/2018

The various ways through which PSPCL consumers can pay their Electricity Bill is highlighted here.

The Joy of Safe ePayments at Andhra Pradesh’s AnnA CanteeN’s

          In the next couple of months Anna Canteen across Andhra Pradesh will dish out 2,15,000 meals per day.

In all, 100 canteens in 35 towns were opened in the first phase, while another 103 units in 75 towns would be inaugurated in the next.

Each canteen is expected to serve at least 350 plates of food for breakfast, lunch and dinner. The capacity could be extended up to 500 plates when needed.

Every canteen sports decent interiors and a uniform elevation and design. They are also equipped with the technology required for electronic surveillance, issuing tokens and feedback system.

The project is taken up by the Akshaya Patra Foundation, which provides the meals, in collaboration with the Municipal Administration and Civil Supplies Departments.

          It would be a boost to Safe ePayments if citizens are encouraged to buy the tokens through the digital channel instead of the old-fashioned cash mode.

          This would reduce the need to haggle for change and also reduce the stress levels of the cashiers in the respective Anna Canteens.

          Real time monitoring of the sales can also be monitored with minimal investment

          In the last week of November 2016, Shri Chandrababu Naidu’s Government  launched  ‘AP Purse’ to push cashless transactions. AP Purse is an Android app that compiles various mobile payment apps and tools.

          However, the AP Purse is not visible on Google Playstore now.

          Citizens will be happy to buy the tokens through a Pre-loaded Contactless Card.

          This will also reduce fraudulent transactions and is a better option than costly face recognition machines.

          A dedicated website with a live plate counter of all the Anna Canteens will boost transparency

Suggested Reading:

103 more Anna Canteens will be opened in next phase

Two days on, Andhra's Anna canteens an instant hit among poor, middle class

Food for all: All you need to know about Anna Canteens launched in Andhra Pradesh