NPCI to introduce BASE i.e Bharat Aadhaar Seeding Enabler

NPCI to introduce BASE i.e Bharat Aadhaar Seeding Enabler

              NPCI - NACH Team has released a document informing to public at large on the launch of BASE

              The full form of BASE is Bharat Aadhaar Seeding Enabler

              Government’s Direct Benefit Transfer runs on Aadhaar Numbers. Citizens Aadhaar Numbers have to be seeded into specific bank accounts. In turn, that information should flow to NPCI Mapper. Over the years, substantial amounts have been routed through DBT channel to the end beneficiaries.

The DBT Channel has routed Rs.6,30,264/- Crores via 717 crores transactions in FY 2021-22 . The number keeps on increasing every month.

To further enhance customer satisfaction, NPCI has come out with BASE.

              The objectives of this new facility by NPCI is to: -

Objective 01) Enable citizens to check Aadhaar seeding status

Objective 02) Enable citizens to do Aadhaar seeding

Objective 03) Enable citizens to do Aadhaar deseeding

Objective 04) Enable citizens to move Aadhaar seeding from one Bank to another Bank

 

Aadhaar Seeding in NPCI Mapper is a two-step process

Step 01) The respective Aadhaar must be linked to a specific Bank Account Number

Step 02) The specific bank should send that information to NPCI Mapper

Both steps are necessary for seamless delivery of Government Benefits to one’s bank account via the respective entity and NPCI

 

Step 2 is not possible without Step 1

Step 1 is incomplete if Step 2 is not done.

To reduce the TAT around Aadhaar seeding / deseeding, NPCI has come up with BASE

Customers can refer the NPCI FAQs for better clarity @ https://www.npci.org.in/what-we-do/nach/faqs/customers

 

Q: When is the Go Live Date?

Ans: The Go Live is not mentioned in the document. As the go-live process involves multiple integrations between various IT Systems, hoping that BASE goes live in the next couple of months.

The Benefits of BASE are: -

Benefit 01) Reduce dependence on the banks staff

Benefit 02) Be aware of their latest Aadhaar Seeding status

Benefit 03) Reduce the TAT for Aadhaar seeding in NPCI Mapper

Benefit 04) Use of Digital Tools to enhance customer satisfaction.

 

Read the complete NPCI Circular @ https://www.npci.org.in/what-we-do/nach/circulars

Circular No 3 – Bharat Aadhaar Seeding Enabler (BASE)

 

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

 

 

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 25^th 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

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.

 

 

 

 

 

           

 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. 

UPI – Standardisation of Transaction Limits

 

UPI – Standardisation of Transaction Limits

NPCI – UPI Team vide Circular dt 24^th 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 31^st October 2021. This means from 1^st 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.