You must be thinking about how a person can make their lifestyle easy with NPCI, so let me introduce you guys NPCI, which stands for National Payment Corporation Of India. It’s an organization which makes our life little easy by providing us one umbrella retail payments and settlement systems in India. Started by Reserve Bank Of India and Indian Banks Association under the provision of the Payment Settlement Systems Act,2007.
The two core products of NPCI is RuPay and BHIM.
1) RuPay: A card for all your needs like Debit, Credit and Prepaid, provided by banks in India to support the retail electronic payments in India. The key features of RuPay:
1) Mandatory pin for secure transaction
2) Simple and standard pricing for all
3) Tied-up with Discover Financial Services and Japan Credit Bureau to offer international acceptance globally
RuPay is also tying up with different brands to bring best discounts and shopping experience for its users.
2) BHIM: this app makes our money transferring easy, without any hassle . We can go cashless and utilize the service to make payments. Not only money payment but also 24*7 money transfer service is available through BHIM. The app provide one click feature to send and receive money to friends and family. The app is language and single application payment friendly.
Key benefits of BHIM for consumers is:
1) Round the clock availability
2) Single application for accessing different bank accounts
3) Single click authentication
1) Single click Two-Factor authentication
2) Universal application for transaction
3) Enable seamless merchant transactions
1) Seamless fund collection from customers-single identifiers
2) Resoles the COD collection problem
3) In-App Payments