Digital Banking Products Archive

e-Rupee (e₹)- Central Bank Digital Currency (CBDC) of India 

e-Rupee, digital rupee, e₹, Central Bank Digital Currency, CBDC, wallet, digital wallet, denomination, risks
E-Rupee is the digital rupee launched by the Reserve Bank of India. The Central Bank Digital Currency (CBDC) of India is represented by the symbol e₹-R. The digital currency, will supplement physical currency and will be
30 Jul 23 Author CategoryDigital Banking Products, Quick Reference No Comment Read More

Central Bank Digital Currency (CBDC)

CBDC, Central bank digital currency, digital currency, legal tender, central bank, wholesale CBDC, retail CBDC, token, fiat money, crypto currency, bitcoin, e-Rupee, e₹, advantages, goal
Central bank digital currency (CBDC) is digital token issued by the central bank of a country. CBDC is the digital form of physical currency. Since issued by the central bank itself, CBDCs too are legal tenders.
30 Jul 23 Author CategoryDigital Banking Products, Quick Reference No Comment Read More

M-POS (Mobile Point of Sale) & Digital Banking

M-POS, Mobile Point-Of-Sale, terminal, credit, debit, NFC, EMV, Credit, debit, biometric, iZettle, Square Inc, cyber security, system requirement, evolution
M-POS or Mobile Point-Of-Sale terminal is a smartphone or tablet equipped with an application/ software provided by a vendor to convert it as a POS terminal. A dedicated wireless device that performs the functions of a cash
19 May 20 Author CategoryBanking Awareness, Digital Banking Products, Everything About No Comment Read More

Types of Point Of Sale (POS)Terminals

Point Of Sale, POS , terminal, GPRS, PSTN, m-POS, Mobile, portable, base station, Acquirer owned, retailer owned, IPOS, Predominantly Off-line Terminal, POT, Integrated POS,
Point Of Sales terminals (POS Terminals) have played a key role in promoting payment card based transactions in India thereby catalysing migration to digital channel payments and digital banking. Today, all banks in India promote transaction through
17 May 20 Author CategoryBanking Awareness, Digital Banking Products, Quick Reference No Comment Read More

POS Terminal (Point Of Sale Terminal)

POS, POS Terminal, Point of sale terminal, benefits, types, GPRS POS terminal, PSTN POS Terminal
POS Terminal (Point Of Sale terminal) was conceived as an automated version of cash register. POS terminals have undergone a tremendous transformation thereby becoming an integral part of digital payment channels and digital banking. Today, POS terminals
16 May 20 Author CategoryDigital Banking Products, Quick Reference No Comment Read More

Cash withdrawal facility at POS terminals

Cash withdrawal facility at POS terminals, POS, Point-of-Sale terminals, digital channels for payments, digital banking, ATM network, digital transaction, cash withdrawal limit, cards, UPI
Cash withdrawal facility at POS terminals (Point-of-Sale terminals) was introduced in India by RBI in 2009, but failed to gain acceptance among public in India. However, the facility is gradually gaining popularity among the public as general
13 May 20 Author CategoryBanking News, Digital Banking Products, Quick Reference No Comment Read More

e-KYC – Electronic Know Your Customer process

e-KYC, Know Your Customer, Aadhaar, Officially Valid Documents, OVD, periodic due diligence
e-KYC is an electronic way of carrying out the Know Your Customer (KYC) process. The e-KYC process is completed through an authentic real time method using Aadhaar Authentication by the customer. It is a simple paperless way
2 May 20 Author CategoryBanking Awareness, Digital Banking Products, Everything About No Comment Read More

National Financial Switch (NFS)

NFS, ATM network, National Financial Switch, IDRBT, NPCI, digital channel, payment system, digital banking, On-Us, Off-Us, technical decline, business decline,
National Financial Switch (NFS) is the largest network of shared automated teller machines (ATMs) in India. Thus, NFS functions as the backbone of Indian ATM network. NFS was designed and implemented by the Institute for Development and
30 Apr 20 Author CategoryBanking Awareness, Digital Banking Products, Everything About No Comment Read More

APBS & AEPS (Aadhaar Payment Bridge System & Aadhaar Enabled Payment System)

APBS, AEPS, Aadhaar Payment Bridge System, Aadhaar Enabled Payment System, NPCI, payment system, digital channel, Aadhaar number, UIDAI, payment services, NACH, financial inclusion, micro ATM, business correspondent,
Aadhaar Payment Bridge System (APBS) and Aadhaar Enabled Payment System (AEPS), leverage the power of the unique Aadhaar number issued by UIDAI (Unique Identification Authority of India). AEPS and ABPS were introduced by NPCI for payment services.
29 Apr 20 Author CategoryBanking Awareness, Digital Banking Products, Everything About No Comment Read More

National Automated Clearing House (NACH) & Electronic Clearance Service (ECS)

NACH ,ECS, National Automated Clearing House, NACH, Electronic Clearance Service, National Payments Corporation of India, NPCI, credit, debit, Aadhaar Payment Bridge, APB, Direct Benefit Transfer, DBT, Unique Mandate Reference Number, UMRN
National Automated Clearing House (NACH) is a web based solution implemented by National Payments Corporation of India (NPCI) for addressing recurring, interbank, high volume electronic transactions. It is an improved and much efficient version of Electronic Clearance
28 Apr 20 Author CategoryBanking Awareness, Digital Banking Products, Everything About No Comment Read More