DIGITAL PAYMENTS - Step by Step Guide for Various Modes of Digital Payments.

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DIGITAL PAYMENTS-Wallets, Point of sale, Unified Payment Interface (UPI), Bank Cards and others.

Digital payment is a way of payment which is made through digital modes. In digital payments, payer and payee both use digital modes to send and receive money. It is also called electronic payment. No hard cash is involved in the digital payments. It is an instant and convenient way to make payments. Digital payments save you from long queues of ATMs and banks. Because, if you pay digitally, you won’t need to withdraw cash from your account. It also saves lots of time and a little bit money as well. In this post we will discuss different types of digital payments modes and their procedure in nut shell.

How do one can change Mobile number in ICICI Bank mobile App



Procedure to update Indian Mobile Number in ICICI bank Savings account:
One can update the Mobile number though any of the following Channels:

Through ICICI Bank ATM:
 For this Visit the nearest ICICI Bank ATM.
Just use your existing ATM card on the machine.
  • Choose or Select ‘More options’  on the atm machine's main menu  
  • Then choose register your Mobile number option.
  • Enter the mobile number.
  • Click yes then again confirm mobile number and click yes.
  • This way Your mobile number will be updated in 1 working day.


Through ICICI Bank Branch:

For this visit nearest ICICI Bank branch along with your original photo ID proof. Once the request is placed, your mobile number will be updated in 2 working days.


To Register mobile number two steps are followed:


For Indian Resident Customers

One can follow any of the below mentioned options to register yourself for the Mobile Banking Service.

Register yourself for Mobile Banking at any ICICI Bank ATM.

Visit your nearest ICICI Bank Branch to register yourself for Mobile Banking.

 You will be required to carry along any identity proof to complete the registration process.
  • Original letter of introduction from existing bank
  • Driving License - Book type or laminated & embossed
  • Employee Identity Card
  • PAN Card
  • Ex-Service Man Card
  • Bar Council/Indian Medical Association Card/Senior Citizen Card
  • PIO Booklet for returning NRIs
  • Photo Identity card issued by Public Sector Undertakings(PSU) to Retired employees
  • MAPIN card
  • Passport
  • Voter ID Card

For ICICI Bank NRI Customer

One  can follow any of the below mentioned options to register yourself for the Mobile Banking Service.


Download and fill in the registration form, post it with valid identity proof to the address mentioned here:

ICICI Bank Limited,

ICICI Bank Towers,

Internet Banking Operations,CLOG

Survey no: 115/27,

Plot no:12,Nanakramguda,

Serilingampally,

Hyderabad - 500032

For customers living in the UK, USA, Canada, Australia, Singapore and UAE, the registration form can be posted to their local PO Box address. Click here to learn about the PO Box service.


NRI Customers can also visit any ICICI Bank Branch in India and submit the registration form with valid identity proof.


Bank Cards


Getting a Bank Card


1 HOW TO ISSUE A CARD FROM YOUR ACCOUNT

  • Approach nearest bank branch
  • Multiple cards from one account
  • PIN issued by bank separately


2 ACTIVATE YOUR CARD

  • At your Bank’s ATM by even balance checking
  • At your bank branch by any transaction


pos and card setup, upi, digital payments
Point of Sale (PoS) & Card steps

BANKS ISSUE VARIOUS CARDS FOR THEIR ACCOUNT HOLDERS

  1. Prepaid Cards
  2. Debit cards
  3. Credit Cards 

USE YOUR CARD TO SHOP ANYWHERE

  1. At any PoS 
  2. At ATM
  3. Online shopping
PREPAID CARD CAN BE ISSUED BY ANY BANK FROM ACCOUNT OR CASH (FOLLOWING BENEFITS)
  1. Pre-loaded card
  2. Equivalent to cash
  3. Can be recharged several times
  4. Can be usedatany PoS, ATM

Unstructured SupplementaryService Data (USSD) based Mobile Banking *99# -National Unified USSD Platform (NUUP)


Requirement for Activation
  1. ACCOUNT IN A BANK
  2. ANY MOBILE PHONE ON GSM NETWORK; NO INTERNET NEEDED
Can be used for payments upto Rs 5000 per day per customer

Registration
  • Visit your branch to link mobile number and bank account (Can be done at ATM or online also).
  • You will get your Mobile Money Identifier (MMID) and Mobile PIN (MPIN) upon registration
  • Remember your MMID and MPIN
Aadhaar Enabled Payment System (AEPS)
  • AEPS allows bank-to-bank transaction at PoS (MicroATM) with the help of Banking Correspondent
  • Seed your account with your Aadhaar number
  • Now do transactions without remembering any PIN
Aadhar enabled Services
  1. Balance Enquiry
  2. Cash Withdrawal
  3. Cash Deposit
  4. Aadhaar to AadhaarFunds Transfer
Key Steps for AEPS Transaction
  • GO TO A MICROATM OR BANKING CORRESPONDENT
  • PROVIDE YOUR BANK NAME AND AADHAAR
  • CHOOSE WHICH TRANSACTION TO DO
  • PROVIDE FINGER PRINT ON SCANNER
  • ON SUCCESSFUL TRANSACTION, TAKE THE PRINT SLIP
  • PROCESS COMPLETED
MicroATM Transaction

                           UPI- UNIFIED PAYMENT INTERFACE
upi, unified payment interface
 
REQUIREMENTS
  • Smartphone with internet facility
  • Bank Account details (only for registration)
AVAILABLE APPS (28 BANK APPS)

SBI app, PNB UPI, UPI Collect (ICICI), Axis Pay, Canara Bank UPI, UCO UPI, Union Bank UPI, OBC UPI and 20 other banks


UPI Registration Process 

UPI, Re\gistration process of UPi, digital payments, homepage of UPI
  1. DOWNLOAD ANY BANK’S APP OR 3RD PARTY APP
  2. CHOOSE YOUR UNIQUE ID (AADHAR, MOBILE NO.) AS VIRTUAL PAYMENT ADDRESS (VPA)
  3. SELECT YOUR BANK
  4. GIVE ACCOUNT DETAILS FOR FIRST TIME
  5. SET M-PIN FOR VALIDATING TRANSACTIONS
  6. REGISTRATION COMPLETED

Sending Money on UPI 

sending money through upi, unified payment interface, upi
  1. CHOOSE “SEND MONEY”
  2. ENTER PAYEE’S VIRTUAL PAYMENT ADDRESS
  3. ENTER AMOUNT  
  4. WRITE REMARKS FOR TRANSACTION
  5. CONFIRM THE DETAILS
  6. HIT “SEND

Collecting Money (raise a demand) on UPI

  1. CHOOSE “COLLECT MONEY”
  2. ENTER PAYER’S VIRTUAL PAYMENT ADDRESS
  3. ENTER AMOUNT
  4. ENTER WHEN DO YOU WANT TO COLLECT
  5. WRITE REMARKS FOR TRANSACTION
  6. HIT “CONFIRM”

                                            WALLETS



What are e - wallets?

  • Electronic pre-paid payment system, mobile-first
  • Used in purchasing items on-line with a computer or a smartphone at a store.
  • An individual's account is required to be linked to the digital wallet to load money in it.
  • Most banks have their e-wallets and some private companies

Using Wallets 

Consumer Wallet Limits: Rs.20,000/month for all. Rs.1 lakh/month with KYC
  1. CONSUMER DOWNLOADS THE APP ON SMARTPHONE
  2. SIGN UP USING MOBILE
  3. LOAD MONEY USING DEBIT CARD/CREDIT CARD OF NETBANKING
  4. START USING WALLET TO MAKE PAYMENTS
Merchant Wallet Limits: Rs.50,000/month with Self Declaration. Rs.1 lakh/month with KYC
  1. SHOPKEEPER / SERVICE PROVIDER DOWNLOADS THE APP
  2. SIGN UP USING MOBILE SELF
  3. DECLARE ITSELF AS A MERCHANT
  4. START ACCEPTING PAYMENT

Basic Requirements to Start Using a Wallet: Bank Account, Smartphone, 2G/3G Connection & A Free Wallet App



                                      Point of Sale (PoS)

Types of PoS

PHYSICAL POS :

Physical Card Swiping –PTSN with landline / GPRS enabled 
physical pos,physical card swiping,ptsnwith landline

 MPOS : Phone connected with external POS device through jack / Bluetooth 
digital payments, mpos,


 V-POS : Virtual E-payment Gateway
digital payments, v-pos, virtual e-payment gateway

Physical PoS working:

  1. SWIPE A DEBIT/CREDIT CARD ON THE POS MACHINE
  2. ENTER AMOUNT TO BE PAID AND PIN
  3. GENERATE RECEIPT

Installation of Physical PoSTerminal


1. Open / identify current account for transactions
2. Identify type of PoS required (landline / GPRS)
3. Fill in the application form (online / at the branch)
4. Submit following documents:
a. Proof of business(any one)
  • Shop & establishment registration certificate
  • VAT certificate
  • Sales tax
b. Proof of address
c. Photo identity proof of proprietor / partner
d. Financial details
  • Bank statement
  • Income tax return
5. Acceptance of MDR by merchant
6. Execution of Merchant Establishment Agreement

V-PoS

1. No PoS machine required
2. QR code used for payment to bank account of merchant
3. Complete privacy of merchant bank account

Must Do Practices

1. Register your mobile number at bank for regular information by SMS for every transaction
2. Never share your PIN to anyone
3. Transact at only trusted merchants
4. While at ATM, ensure no one is looking over your shoulders



                                        SUMMARY
all about digital payments,hirarchy of digital payments

CONCLUSION:

                          Digital payments are more convenient than cash payments. You do not need to carry a lot of cash with you all the time. You can make digital payments in seconds. The change is not a concern with digital payments when you can pay the exact amount. You will also have all your payments recorded automatically. We can say that Digital payments is the future of fund transfer and money transactions.


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